This is a very interesting story this morning. We have seen people flying by here (I'm east of Silicon Valley) on their way out of the state - resettling in Colorado, Nevada, Idaho and Texas. These tend to be sharp, young professionals. Many are about to have families or have small children. The implications of this story are complex and telling, I think. What happens next? I think a lot of these people who just unpacked the moving van just before receiving this pay cut will likely apply their talents locally, starting new businesses - including high-tech businesses. I think this is good for the country and continues California's rejection of good, educated citizens. Almost none remain. The only thing that has kept California from total economic depression has been, IMO, the financial engine of Silicon Valley.