The bigger, of course also more distant and vague, announcement is that "by 2050 Microsoft will remove from the environment all the carbon the company has emitted either directly or by electrical consumption since it was founded in 1975."
I'm a German engineer in the US. The thing with these stories is that they won't happen to you. If you're employed by a tech company you have great health insurance.
Of course, it still sucks that it can happen to someone at all and you might not want to live in such a society. That's a separate issue.
Speaking of SV, I think the cost of living and the social problems there have made it increasingly unattractive. Seattle is nice.