The biggest obstacle to locating any business outside of Manhattan is the transit system. Most subway lines run between the outer boroughs and Manhattan, and the regional commuter railroads (LIRR, NJ Transit, PATH and Metro North) all terminate in Manhattan (or primarily in Manhattan, since LIRR also has stations in Brooklyn and Queens). Thus, locating a business outside of Manhattan greatly reduces the area from which it can recruit employees.
The op is a VC and I am not sure what their angle is. But when tech jobs came to San Francisco, there was gentrification how is that really a benefit to the current community? Where is the proof that most of the promised 25, of jobs won't go to new community members that put pressure on the current residents to move out?