except you are wrong -- I personally know a CA-17 commuter and there are many, many others, for decades... long ago, it started in Scotts Valley and then moving further South.
The numbers I have heard are 30,000 going from Santa Cruz north for work, daily, and 20,000 coming in to Santa Cruz for work, daily.
Working in tech and living in Santa Cruz is not new, a good chunk of the Gen X and Boomer crowd in Santa Cruz did that or does that. I don't think its nearly as much of a problem as Santa Cruz refusing to allow any sort of density. The complaints I hear about tiny changes, like a hotel replacing two stories with three stories, are the real cause of Santa Cruz's woes.
SC has tried to be exclusionary for the past four decades, which means landowners get rich and there's no room for anybody who isn't rich. Tech has little to do with this. San Luis Obispo is going through the same stuff, and they can't blame Silicon Valley for that at all.
The problem is not new people, the problem is refusing to share.