Can't connect to development server

I’ve gotten expo projects to work in the past but trying to get a new expo project up and running, and bumping into a few hurdles. I initially couldn’t get my project to run in a yarn workspace, so tried to just run the starter tabs projects and had the same issue.

Ran yarn start
Opened iOS simulator, see splash screen load and then the red screen of death (screenshot below).

Ran expo diagnostics and got the following

      OS: macOS 10.14.6
      Shell: 3.2.57 - /bin/bash
      Node: 12.14.0 - ~/.nvm/versions/node/v12.14.0/bin/node
      Yarn: 1.21.1 - /usr/local/bin/yarn
      npm: 6.13.4 - ~/.nvm/versions/node/v12.14.0/bin/npm
      Watchman: 4.7.0 - /usr/local/bin/watchman
      Xcode: 11.2.1/11B500 - /usr/bin/xcodebuild
      expo: ^36.0.0 => 36.0.2
      react: 16.9.0 => 16.9.0
      react-native: => 0.61.4
      react-navigation: ~4.0.10 => 4.0.10
      expo-cli: 3.11.2

Try restarting the development server.
If you could not resolve issue present with console error.