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Silicon Valley exodus: Bay Area tech companies leaving for Texas

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Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas

#71

Post by trident1000 »

njudah wrote: post #68
trident1000 wrote: post #47

Earlier quoted context omitted.

The LA mayor is telling people to not walk outside because of covid. If thats not absurd big liberal govt policy idk what is. Who would want to live somewhere where the govt thinks they can do that. Your rights as a person dont vanish in a crisis. https://fortune.com/2020/12/03/los-angeles-new-lockdown-rule... dannyincolor - He issued an order. Its not an ask. This isnt a where you live thing, this is a govt overstep…

The Attorney General of Texas filed a lawsuit claiming the results of election in four other states were invalid. If that isn't rejection of the constitution and democracy I don't know what is.

Comparing directing citizens physical actions to some high level legal battle. Got it.

Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas

#72

Post by sremani »

MAGZine wrote: post #62
s0rce wrote: post #49

Earlier quoted context omitted.

Lots of nimby policies (Prop 13, blocking new construction) significantly raises housing costs for everyone, I suspect this isn't a small part of why many people leave.

Are the people who are leaving the same people who vote for these policies? I suspect tech people who might move to texas are strongly YIMBY, not NIMBY.

There are pockets of Nimby in Texas - truth to be told Austin is one of the most Nimby cities in Texas. The only good thing is unlike Bay Area - the Cities in Texas a primed for outward sprawl.

Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas

#73

Post by DontGiveTwoFlux »

alexmingoia wrote: post #70
pb7 wrote: post #18

Earlier quoted context omitted.

Is there any evidence that the people moving are responsible for the bad policies? Something tells me the NIMBYs that bought their homes decades ago and pay $3.50 in annual property taxes aren't going anywhere.

What do low property taxes have to do with high rent and lack of housing? Higher property taxes would result in higher rent and property prices...

High taxes incentivizes more productive use of real estate, such as multi family housing.

Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas

#74

Post by throway1gjj »

pb7 wrote: post #59
s0rce wrote: post #49

Earlier quoted context omitted.

Lots of nimby policies (Prop 13, blocking new construction) significantly raises housing costs for everyone, I suspect this isn't a small part of why many people leave.

And you think the people leaving are the ones that voted for this? Can you explain what leads you to think that?

The people leaving are the ones that allowed this to take place by their voting choices, whether they realised it or not. And now they're bringing their great ideas to Texas.

Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas

#75

Post by halbritt »

W-Stool wrote: post #30

Given that the Texas GOP leadership recently mused publicly about seceding from the United States I wonder how many of the people and companies that left California for Texas would be pleased to wake up one morning and discover they now live in a foreign country? My guess would be: "not so many".

"seceding"

Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas

#76

Post by shoguning »

California and SF are doomed, but the recent news of HPE and ORCL moving are not a big deal. IMO these are stationary phase companies trying to cut cost. They are not growing revenue, they are not really dynamic companies anymore. Who cares? The swashbuckling SV types never would have worked at these companies anyway. Stability-seeking workers in other states are a much better fit for these companies. Win-win-win.

Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas

#77

Post by beamatronic »

alexmingoia wrote: post #70
pb7 wrote: post #18

Earlier quoted context omitted.

Is there any evidence that the people moving are responsible for the bad policies? Something tells me the NIMBYs that bought their homes decades ago and pay $3.50 in annual property taxes aren't going anywhere.

What do low property taxes have to do with high rent and lack of housing? Higher property taxes would result in higher rent and property prices...

They are referring to long time California residents taking advantage of Prop 13. Presumably, long time residents vote against "change", which would include construction of new homes. Now imagine a lifetime of such voting. This would lead to a long-term undersupply of housing. Leading to higher housing prices.

edit: added more

Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas

#78

Post by dannyincolor »

fairity wrote: post #61
11thEarlOfMar wrote: post #24

This general topic seems to come back into focus on a regular basis on HN (last time, 1 week ago). People have been leaving SV in numbers for the 30 years I've been here, always citing traffic & cost of housing as the primary reasons. Though this time, you could add decriminalization of petty crime. Nonetheless, the population growth remains net positive. The fundamental design of the Internet was to be robust agains…

Since cities thrive based on network effects, my question is: did everyone in past exoduses move to the same location? If not, is that not a good reason to believe this time will be different? Smart, ambitious people tend to congregate, and capital follows. If during past exoduses, people moved to random places, I can see why SV remained the primary magnet. But, this time everyone seems to be moving to Seattle and Au…

I imagine we will just have more innovation centers. Nothing wrong with that and certainly not deserving of the “California is dying” hype

Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas

#79

Post by dkobran »

Hypx wrote: post #28
dkobran wrote: post #16

HP and Oracle don’t exactly represent the heart of Silicon Valley today and what makes it special/unique. I actually think zombie corporations like Oracle, companies that haven’t innovated in decades and instead rely on an army of sales people to sell legacy software, are somewhat the antithesis of Silicon Valley which is really about real technological innovation and disruption at it’s core. I know there are lots of…

Agreed. They're companies trying to avoid taxes or regulation. Only companies on the downslide really consider that as an relevant option.

Some folks in my network are ex-Oracle and my understanding is that the company is run by the CFO and a huge group of MBAs. Any company where the bean counters are at the helm are optimizing for things like quarterly earnings, tax savings like you said, etc. This is the stage where they milk whatever they can out of a dying cash cow. There’s nothing interesting to me about this flavor of capitalism and I don’t think it’s something America should be proud of producing. Conversely, technology innovation and the entire ecosystem in Silicon Valley is really special and almost irreplicable.

Note: I have nothing against MBAs, I just don’t think it’s appropriate for them to have the loudest voice at a non-financial institution. They serve a critical role but it’s a supporting one and not suitable to leadership / company direction.

Re: Silicon Valley exodus: Bay Area tech companies leaving for Texas

#80

Post by wildrhythms »

burner831234 wrote: post #40
caseyf7 wrote: post #22

Many companies that assumed employees are working from home are discovering large numbers of employees are working from other areas and states.

And they are pulling them back or requesting a full move, using taxes as the reason.

Is there any substance to this other than the U.S. tax system being antiquated?
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