Instagram boss Adam Mosseri announced his decision to move back to the US on Monday, after a year of living in London because managing Twitter killer Threads was unmanageable.
Cheaper house prices, a favourable exchange rate, cost-friendlier engineers and Government research and tax credits have all been attributed to a boom in Transatlantic moves.
The Gap, who owns Banana Republic, closed a number of Banana Republic s stores during the pandemic and last month announced it would lay off 1,800 workers at its San Francisco HQ.
A growing number of San Francisco tech executives are abandoning the city to move to London, fueling an American-led boom in foreign home sales in the UK capital city.