I'm surprised that Houston isn't considered as a reasonable alternative for Austin. It has all the benefits of the Texas state government, but the cost of living is basically half of what it is in Austin, or a third of what it is in SV. There are no zoning laws, which means that it can expand endlessly and has a similar feeling to other cities without zoning laws, ie: you'll find a dive bar in the middle of a residential neighborhood. Montrose has such an awesome, dirty, authentic feeling. I could gush forever about Houston.

The city already survived the oil booms of the past and retained a unique feeling -- the injection of tech money isn't going to change that. Between NASA's JSC, Rice University, and the University of Houston, there's a half-decent talent pool to draw from. For a deeper talent pool, it's just a few hours away from all of Austin, Dallas, and College Station.

"Houston is a cruel, crazy town on a filthy river in East Texas with no zoning laws and a culture of sex, money and violence. It's a shabby, sprawling metropolis ruled by brazen women, crooked cops and super-rich pansexual cowboys who live by the code of the west—which can mean just about anything you need it to mean, in a pinch." - Hunter S. Thompson