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It isn't that simple — SF actively rejects attempts to increase density.

So if Google's entire MTV campus was in SF, you really think housing prices would be better? Move Apple, Facebook, Google to SF and you have gentrification on steroids.

You are assuming that they could move into SF. I'm sure Google could easily fill the Transamerica pyramid.

SF isn't amenable to new construction, and Google and most these companies could easily be more decentralized then they are now in MV if they had to take up residence in the city.

If Facebook/Google were in SF, I reckon many of its workers would still live in San Jose, Fremont and Oakland, due to affordability concerns and a lack of density in the city proper.