It is not a requirement that those people are in Seattle. Just as car manufacturing is not required to be in Detroit.

s/when/if/

It's not becuase of interest rates (or section 174 or H1Bs or whatever boogeyman you want)

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.

ZIRP was a historical anomaly. We shouldn’t expect another sustained period of what we understand to be low interest rates in our lifetimes.

Seattle residents are happy because other people they deem as "uncultured" are out of jobs?

If that is true, do we really want to save Seattle's "culture" from being hollowed out.

I think this happens to any city whose existing population and culture gets rapidly overwhelmed in a small amount of time, such that the existing group sees its way of life being erased. It can happen with situations like sudden mass migration (like in some European cities where they were used as relocation centers for asylum immigrants). But in Seattle’s case, I am betting it’s the tech industry as a whole not just Amazon. The city probably saw a large influx of people from California and also outside the US, replacing the earlier vibes, all within 20 years.

Is it still a bubble if it is not going to burst in your lifetime?

Not just rideshare, but food delivery has been practically outlawed with all the taxes and fees. We have…

Sales tax: 10.25% on prepared delivery food.

Commission cap: Apps can only charge restaurants up to 15% per order, which leads to apps passing on fees to consumers

PayUp ordinance from 2024: delivery workers must be paid at least $0.44 per engaged minute + $0.74 per engaged mile, or a minimum of $5 per offer, whichever is greater. For 2025, those rates increase to $0.45/minute, $0.77/mile, or $5.20 per offer.

I tried to order 1 pad Thai and 1 curry the other night and it was going to be over $70. Insanity.

Seattle levied taxes and fees on Uber and deliveries that are so high that it is comical. You literally will pay more in taxes and fees to the city than you’d ordinarily pay for the goods and services you are actually consuming. Like, up to 100% effective tax rates on consumption. Unsurprisingly, people noped out and now there is a new crisis because people that provided those services are underemployed or unemployed.

The politicians begrudgingly acknowledge the massive drop in business but simultaneously assert they can’t change anything because “it was the right thing to do”. Meanwhile, the people that worked in those businesses aren’t getting paid. Seattle has the highest minimum wage in the country, almost $21/hr before tips, but that is a cold comfort if there isn’t enough business to give you hours.

Seattle is not run by serious people.

Amazing nature, food, and people. Not a whole lot of cities that compete with it in the US.

I'm curious to know what you consider good weather.

Ironically, the weather in Seattle is better than most of Europe.