One of the main reasons Rahnema felt tethered to living in the Bay Area was to be in close proximity to the cream of the crop of tech talent, not unlike many others who move to the region. The migration from Silicon Valley to Austin was already in motion, but it's becoming clearer now just how influential the Texas capital may become to the broader tech scene as more people make the move. Rahnema, a Y Combinator grad and founder of a company backed by famed VC firm Initialized, represents one of many in Silicon Valley's tech talent pool who has decided to leave the Bay Area for Austin during the pandemic. Now, after moving to Austin, Texas, in early November, Rahnema has a three-bedroom house with front and back yards, a home gym, and a large home office - for about the same price. When Ben Rahnema lived in San Francisco's Cole Valley neighborhood, he rented a one-bedroom apartment with his partner. Video: How Silicon Valley became the tech industry’s home Visit Business Insider's homepage for more stories. He said Silicon Valley may not be as much of a powerhouse in the long-term, but that doesn't mean it's dead or won't rebound, and "people are over-exaggerating the kind of decline of" San Francisco. Rahnema said "FOMO" in the "hive-minded" Bay Area could prompt more people not wanting to miss out on the next best thing to move out of the region and to cities like Austin, which already has a tech scene of its own.
He paid for a one-bedroom apartment in San Francisco and, for the same price, now has a three-bedroom house in East Austin, with a home gym and a backyard. He told Business Insider that a shift to remote work, a growing network in Austin, and housing costs were all contributing factors in his decision to move. Startup founder Ben Rahnema moved to Austin from San Francisco in early November, one of many in the Bay Area who have fled to the Texas city during the pandemic.
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