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Elon Musk moves to Texas

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Re: Elon Musk moves to Texas

#91

Post by nickthemagicman »

doyouevensunbro wrote: post #66

Musk made it clear what he thought about worker’s rights when he forced the Tesla plant open during the pandemic: https://www.bbc.com/news/technology-52627744 The modern day robber barons will never care about the working class. It is up to us to look out for ourselves.

Covid is a classic trolly problem.

Pull the lever and destroy the economy, put the government in debt, destroy businesses, send millions into poverty, hurt individuals futures, increase infant mortality, increase drug use/overdoses, hurt artists and destroy museums, increase suicides, and more.

Don't pull the lever and kill a .01 percent of people above the age of 55 who won't stay quarantined.

I think he thinks pulling the lever is the wrong decision, and he's moving to a place with like minded thinkers.

Re: Elon Musk moves to Texas

#92

Post by dafoex »

toomuchtodo wrote: post #15
goshx wrote: post #12

Earlier quoted context omitted.

"These laws make it illegal to buy a car from Tesla in person, at a Tesla Gallery. Thus, all Texas orders are taken via the internet or over the phone. Texas residents can still easily buy a car from Tesla, but the purchase is handled as an out-of-state transaction and must be completed before the vehicle ships to Texas." Tesla is not your regular dealership. Car purchases are made online anyways.

This. All of our Teslas were bought online, and we showed up at the gallery or service center only to take delivery ("here's your [fob|rfid key] and we'll auth the vehicle in your Tesla account"). Carvana has a similar model for used vehicles, and they are very successful with the demo they cater to (buy online or in app, with a test drive period after purchase if you want to return the vehicle). People hate the trad…

I'd rather a traditional dealership than having to log into my car. When I got my Skoda Citigo it was a pretty painless experience, aside from the fact that motorised wing mirrors weren't standard.

Re: Elon Musk moves to Texas

#94

Post by menssen »

jowday wrote: post #14

Isn't the actual listed location of residence more a formality for a billionaire like Musk? I presume he'll still rent residences in LA and the Bay Area considering he'll be back and forth for business related to Tesla and SpaceX. This seems like he's renting a place in Texas and making a big deal out of 'moving there' to make a point about California's regulatory environment.

Finance YouTuber Graham Stephen recently made a big deal out of moving from Los Angeles to Vegas because the tax savings more-or-less paid for a giant mansion in Vegas. (And because of some slightly cringey comments about not wanting to see so many homeless people, but that's not the editorial comment I'm trying to make right now.)

But, he's keeping his house in CA (for "weekends and vacations"), and he's building his studio in Vegas to be an exact replica of the old one.

So, yeah, charitably, "moving" for the highly wealthy does not really look anything like "moving" for anybody else.

Less charitably, it seems like a scam. In GS' case, nobody can tell where he's doing his work from, so "oh we spent too long at the beach on this 'vacation day,'" better stay here and film tomorrow's episode from CA, nobody will ever know." In EM's case, I suspect he spends more time business-traveling than at home anyway, so it would be pretty difficult to prove which of his houses he "lives" in.

And if anybody balks, there's a huge amount of PR content proving that they "moved."

This wouldn't bug me so much if it weren't for the arrogant, selfish, hubristic political comments they always make on the way out.

Re: Elon Musk moves to Texas

#95

Post by boringg »

It's unfortunate that Elon is leaving California given that the state has really lifted him to the pedestal he is on - through the talent network (highly talented employees, VCs), and the progressive policies that CA built for clean technology (Solar, EVs, Energy Storage). That was paid for on the backs of the people. Funny how short his memory is.

Elon is a talented man - I absolutely respect what he's done. However - let's call this what it is - he doesn't want to pay a large tax bill for the success that he has had (hence selling all property in CA). I get it - it sucks and you can also be much more anti-union in Texas.

Too bad he had to go along with the narrative “I think we’ll see some reduction in the influence of Silicon Valley” -- feels like a slap in the face to the market that lifted Tesla off the ground.

Re: Elon Musk moves to Texas

#96

Post by 11thEarlOfMar »

I was on the edge of the same decision. This move by the new district attorney in LA is so far beyond the pale that if it's not rescinded soon, I am gone too:

"NEW: L.A. County DA George Gascon has issued a directive to prosecutors that the following misdemeanors will be declined for prosecution, with exemptions.

-Trespassing

-Disturbing the peace

-Driving without license

-Prostitution

-Resisting arrest"

This is an abbreviated tweet, and each of these has some explanation and color, for example, resisting arrest will still be prosecuted if the suspect physically assaults the officer. But they can break loose from restraint and flee and not be prosecuted for resisting.

Prostitution was more specifically 'loitering to commit prostitution'.

My issue is the message this sends to those committing criminal behavior. They'd be attracted to municipalities that they know will not prosecute them. In many cases, it's likely that this petty crime is largely in support of drug addiction or influenced by mental illness. It would be more effective (and lauded by me) if this approach was paired with an effective treatment system. None is put forth(?), and we'll just see more and more mayhem, as we have seen already in San Francisco.

Re: Elon Musk moves to Texas

#97

Post by [deleted] »

dafoex wrote: post #92
toomuchtodo wrote: post #15

Earlier quoted context omitted.

This. All of our Teslas were bought online, and we showed up at the gallery or service center only to take delivery ("here's your [fob|rfid key] and we'll auth the vehicle in your Tesla account"). Carvana has a similar model for used vehicles, and they are very successful with the demo they cater to (buy online or in app, with a test drive period after purchase if you want to return the vehicle). People hate the trad…

I'd rather a traditional dealership than having to log into my car. When I got my Skoda Citigo it was a pretty painless experience, aside from the fact that motorised wing mirrors weren't standard.

[deleted]

Re: Elon Musk moves to Texas

#98

Post by perryizgr8 »

Traster wrote: post #74
zaroth wrote: post #6

California is actively looking for ways to extract more money from Elon. It likely posed an appreciable risk to his business ventures that CA at some point will try to tax unrecognized capital gains, which would require him to liquidate shares to pay the tax. Basically akin to a hostile government takeover. If CA were to aggressively pursue such a policy, they would likely go after anyone they perceived as fleeing ju…

>Basically akin to a hostile government takeover. Or, you know, taxes to pay for the government subsidies that have funded all of Musk's current business operations.

Aren't those federal subsidies though?

Re: Elon Musk moves to Texas

#99

Post by darkwizard42 »

beerandt wrote: post #71
jcampbell1 wrote: post #56

Earlier quoted context omitted.

Let’s say you are a painter, and you paint 20 pictures and sell 10 for 100,000 each. You pay taxes on the 1m you receive. The other 10 painting are sitting in a storage unit. Then at some point in the future someone, one of you previous customers sells their painting in a private sale for 10M. They pay capital gains on $9.9m. Now you as the painter hypothetically have $100M worth of in paintings in your storage unit.…

Put another way, it's taxing money (value) that you haven't actually made yet.

Which is... kind of crazy, it forces you to immediately realize gains and pay taxes on that as well...

Re: Elon Musk moves to Texas

#100

Post by busterarm »

jlmorton wrote: post #79
busterarm wrote: post #62

Earlier quoted context omitted.

California has a $54B deficit this year. It's been all over the news, including very left-wing sources like NY Times and Politico. The state _projected_ a surplus and was off by an entire order of magnitude into the red. The state has been campaigning to Congress all year for about $14B in bailout money.

Did you miss the part where there's been a massive pandemic and sky-high unemployment for the past year? California had the nation's healthiest budget prior to the pandemic, with the highest per-capita surplus, largest rainy day fund. It's true that California relies heavily on income taxes, which include capital gains, both of which are much more strongly impacted by the business cycle than states primarily funded b…

From 2019:

https://www.forbes.com/sites/patrickgleason/2019/04/16/no-ca...

Where do you expect California to get the money for $1T in unfunded pension liabilities? California's budget is "healthy" only for as long as they ignore their long-term liabilities.

California's "healthy" finances was a lie that the state told you in order to have a hope of meeting future obligations. The legislation they keep trying to pass where they're going to chase after money of people leaving the state shows you the true picture. They wouldn't have a need for such games otherwise.

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