401–410 of 622 posts
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The east coast has entire Ivy League and yet no Silicon Valley. Also, how do you explain Seattle?
Many of the brightest on the East Coast get sucked into finance.
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Agreed. They're companies trying to avoid taxes or regulation. Only companies on the downslide really consider that as an relevant option.
To be fair, here's the complete list of companies in the known universe that don't try to avoid taxes or regulation: [error data not found] There's a cost of moving. California's taxes and regulations are bad, bad enough to force many out, but not all. If things continue on their present course, even Google and Amazon, who personally like the political climate there, will have to start looking elsewhere.
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Oracle leaving for Texas reminded me of this person: https://news.ycombinator.com/item?id=18442941 People getting excited for Texas seems a bit silly! Real tech hub but... this is Oracle. C'mon.
The damage to CA's economy won't come from the has-beens leaving, but the never-will-be's that never happen. It's hard to have a ramen startup when your garage costs a million dollars. SF has been operating on the "Get Big Quick" financial injection model for a while now, so it probably won't stop those types of companies. But we shouldn't pretend that there's been a good environment for the idyllic startup in at lea…
Word.
Peter Thiel had something to say about this - basically, he said that so much of the VC money that a start up would raise would go to rent that it no longer makes sense to start a company in the Bay Area.
And those garages in Austin, Nashville, Charlotte, Railegh-Durham, and basically every where else are starting to look very attractive to savvy start up founders. Especially under the WFH circumstances bc of covid.
The real state I wonder about is Illinois. Who the hell wants to live in Illinois? Both the state income tax and property tax is absurd and you can easily cross state lines to somewhere cheaper with pretty much the same scenery.
Have you never been to Chicago? Pretty nice town.
I almost died when I visited in February.
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Have you never been to Chicago? Pretty nice town.
Nice to visit, wouldn't want to live there. Did I mention it's the murder capital of the United States?
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…
"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," This sentiment is problematic. Oracle has 130 000 employees and $40B in revenue. That's massive. They are a tech company, not a media company like FB. They are a lynchpin, just because 'we don't like them' doesn't make them 'not' that. It's like Burning Man: eve…
I predict that it will continue to be a slow transition until a tax friendly state with a decent tech hub joins California, Montana, North Dakota, and Oklahoma in banning non-competes. If that ever happens, California is in deeper trouble.
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Proposition 13, mentioned by a sibling comment.
Two counterpoints: - Direct your discontent toward the corporations and landlords who are exploiting Prop 13 when it wasn't intended for them. It was intended to protect homeowners (often on retirement income) from skyrocketing property values that is out of their control. It's done great at that, but unfortunately (like any regulation) has also been exploited by the greedy. - That aside, don't presume to be entitled…
Luckily, if someone is being priced out by fair property taxes, they still own a valuable asset.
These companies leaving for Texas will not have a negative impact on the Bay Area, but it will have a positive impact on Texas. One of the things I didn't see mentioned in the comments here is the contribution of immigrants in Bay Area tech scene. And CA, with Bay Area in particular is very friendly to immigrants from all over the world. A very large percentage of those will never move to Texas, well unless this migr…
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I totally agree and I think property taxes are way more fair and equitable for a society than income taxes. Usually we tax behaviors we want to curb. Income taxes disincentivize people from earning more, whereas property taxes are a consumption tax. In my mind this makes way more sense, and there's good data to suggest property taxes are the best/most efficient way to gain needed revenue for a city but do the least "…
"I totally agree and I think property taxes are way more fair and equitable for a society than income taxes." Until you retire and no longer can pay the tax and are kicked out of your home. Logically, it makes more sense to tax people who are actually making money (income and capital gains) since that means they actually have money. Taxing people on a fundamental need (shelter) could potentially increase homelessness…