California exodus is just a myth, massive UC research project finds – By Michelle Robertson (SF GATE) / July 8 2021
Despite the popular belief that residents are fleeing California, there is not in fact a statewide exodus, new research out of the University of California finds.
The results of the project contradict many of the myths surrounding California and its population.
For one, while residents are moving out of state, they are not doing so at “unusual rates.” Similarly, the research found no evidence of “millionaire flight” from California and notes that the state continues to attract as much venture capital as all other U.S. states combined, despite the recent exodus of Hewlett-Packard and Oracle.
The report did reveal net migration out of San Francisco during the pandemic. However, about two-thirds of people who left the city remained in the Bay Area, while 80% stayed in California, which is consistent with earlier trends.
