The reality is that most people who make a living writing software in the bay area are middle-aged, married or partnered, have children and a fat mortgage, and aren't really a part of "silicon valley". They live quietly, don't go to meetups or write blogs, and they're mediocre to decent contributors at work and they know it. A large minority, perhaps even a majority, are not white; they are Indian, Pakistani, Chinese, and from almost every other national or ethnic background you could name. Many are women, despite the oft-repeated myth of sexist hiring practices. In a nutshell, they're ordinary people with ordinary concerns nothing like the HN echo chamber's perceptions of the world. And you can bet your ass they'd like a little security.
And that seems reasonable, but I'm not sure how you expect that to work, given the last bubble caused entire companies to go under, and multi-year commitments to staff might cause even more to go under, or at least through bankruptcy proceedings where they will shed those staff anyway.