Source: http://m.la.curbed.com/archives/2015/01/...

Santa Monica's got a rep as being rife with the kind of NIMBYs who will shut your project down (it actually has an active "no-growth" movement). It's also got a rep for being the hot new tech epicenter as the locus of Silicon Beach (tech now accounts for a full quarter of Santa Monica's workers). And the effects of SaMo's "fear of growth" on that burgeoning tech scene were a hot topic at the State of the City event this week, which brought together big-time business honchos and city leaders to discuss the city's future, which could be quite grim if it keeps refusing to grow. Santa Monica Next reports that one hot issue was the way growth has stalled out and hit tech companies hard, leaving them on the hunt for increasingly rare office space and their workers looking for housing. 

Some tech companies, including biggies Google and Yahoo, seem to have given up already, and are defecting to Los Angeles's Playa Vista neighborhood (which has its own issues), or to Culver City or neighboring Venice.