It's not the "people with money" leaving. There's equal evidence of people with money staying and people with money leaving.

It's people who use their money to generate more value and employ lots of people that are, consistently, leaving. That means that thousands of jobs for the lower middle class are leaving and going to somewhere with a more favorable business environment.

And that's not good (well, it's good for the other city).

It's easy for people in tech hub cities to think that's never going to change but history shows boom towns going bust repeatedly. Sometimes they come back (Seattle). Sometimes they don't (the whole Rust Belt + Upstate NY).

And once the talent pool from a few large companies moves to another metro, whole industries relocate their offices to chase it.