The low-income people that will be left behind will face a multitude of challenges. They will have fewer customers to serve. Their employers’ operating costs will be subject to Baumol’s cost disease, increasing the pressure to automate or shut down. And the tax base that pays for the policing and education services they consume will diminish.
Specific political entities are still constrained by geography. They can only affect those who live within its boundaries (even if they impose a tax on leaving). And so, cities who will not submit to their wishes might find themselves depleted of the world’s most productive people.
The 10X Class is likely to face political resistance. After all, you can only vote once, regardless of how wealthy you are. But when you have a choice, you can also leave.
A growing number of high-paying jobs are no longer dependent on location. Many high-paid employees will still choose to live in cities, but they will no longer have to. This will give them the power to move to new places or to impose their will on the places they’re already in. Members of the 10X Class will have particular power since they will have an oversized impact on the city’s tax base and the viability of local industries (both the ones that employ them and those that provide services to them).
Companies that try to avoid hiring the most productive employees will see their margins erode regardless of where they are. This means that even if only some companies start hiring remotely, the dynamics will change for everyone. Ultimately, if your products are competing on a global scale, you have to compete for talent on a global scale. Previously, companies could sell globally and hire locally only because hiring globally was not an option. Now, it is.