Its interest rates more than AI.
When interest rates again are low, money is cheap, people will look for ways to make money on money, there will be another boom and massive demand for people.
When interest rates again are low, money is cheap, people will look for ways to make money on money, there will be another boom and massive demand for people.
when the next recession hits we will be back at ZIRP and stay there for years
welcome to the forever-MMT economy
Microsoft, Amazon, and other firms have been steadily moving out of Seattle for the past several years - first doing domestic offshoring in Tier 2 metros like RTP, DMV, and Denver and after that to dramatically expanding their already significant presence in the CEE and India.
A lot of people on work visas who were impacted during the initial COVID visa issues were PMs, EMs, and other mid-level managers who when they shifted back to their home country were given P/L and product responsibilities, and as such the center of gravity has left Seattle.
On top of that, local Seattle area politicians strangled the golden goose by becoming populist tech haters - great for winning an election, but did nothing for the Seattle or Washington economy.