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Tesla’s headquarters will move to Austin

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Re: Tesla’s headquarters will move to Austin

#631

Post by muzz »

jillesvangurp wrote: post #585
muzz wrote: post #395

Earlier quoted context omitted.

Elon personally potentially saving billions in taxes might have a lot to do with both of those ie his move and then the company's move. As an investor in the company, I am concerned about that (that this change was done to benefit one person rather than the company). https://www.houstonchronicle.com/business/article/Elon-Musk-...

I'm a shareholder as well. I can see the value add of a friendlier tax regime for the company, its employees, and indeed its CEO, less bureaucracy, and access to clean energy that Texas has to offer over the Bay are. I see it in terms of share holder value. Overpaying for staff, infrastructure, housing, facilities, etc. and dealing with local government that is too inept to address even the most basic challenges (hou…

This is why we have markets. This news is now public, and TSLA is down today, ie investors have decided it is worth less after the news than before it.

Re: Tesla’s headquarters will move to Austin

#632

Post by muzz »

BuyMyBitcoins wrote: post #457
muzz wrote: post #375

Earlier quoted context omitted.

There is no "large exodus" of people moving out of California. The number of people moving from San Francisco to Austin in a year is something like 240 households. https://www.sfchronicle.com/bayarea/article/People-are-leavi...

I simply don’t believe SFChronicle here. I live in Texas and I see plenty of California plates on the road. The realtor I work with says Californians are flooding the market with cash. They’re offering 10’s of thousands of dollars over asking price and winning out over local offers.

The data is from the USPS. Sorry if it doesn't match some anecdotes

Re: Tesla’s headquarters will move to Austin

#633

Post by muzz »

bradknowles wrote: post #498
BuyMyBitcoins wrote: post #457

Earlier quoted context omitted.

I simply don’t believe SFChronicle here. I live in Texas and I see plenty of California plates on the road. The realtor I work with says Californians are flooding the market with cash. They’re offering 10’s of thousands of dollars over asking price and winning out over local offers.

I suspect that maybe not many are coming from San Francisco itself, which is only a tiny part of the Bay Area. And maybe not that many are coming from the greater Bay Area. Maybe they’re coming from other parts of California that also has very high cost of housing, like LA.

There's no evidence of this either. The contra-evidence is: https://www.capolicylab.org/wp-content/uploads/2021/03/CalEx...

Re: Tesla’s headquarters will move to Austin

#634

Post by muzz »

anchpop wrote: post #621
hef19898 wrote: post #552

Earlier quoted context omitted.

I am certain the 54 million $ in tax breaks and incentives have nothing to do with it whatsoever... https://www.theverge.com/2020/7/14/21323977/austin-tesla-tax...

yeah, 50 million over 10 years is nothing. That’s 5 million a year. They made 101 million profit in a day by selling 1.5 billion worth of their bitcoin holdings

Then why do it? That amount could pay for lots of schools to built etc

Re: Tesla’s headquarters will move to Austin

#635

Post by earth2mars »

bgentry wrote: post #411
scoofy wrote: post #307

Earlier quoted context omitted.

Traffic in Austin is insane. Legit insane. Definitely comparable to the Bay Area if not worse. And there is absolutely no transit alternative comparable to BART. There is a morning and evening train, but it's really only effective if you live and work exactly on the stops.

I lived in CA my whole life, including the last 10 years in the Bay Area, before moving to Austin a year ago. I can’t for the life of me understand what you’re talking about. I-35 is bad, that’s about it. The freeways around the rest of Austin are still moving even around rush hour. None of those hold a candle to the Bay Bridge on a Friday afternoon, not even remotely close to as bad.

you moved during COVID times where most people still not on roads. I guess when things become normal, you would see actual issue. Just wait for few more years before you can start complaining the heat, traffic & cost of living. Especially if you want to live in an area with good schools!

Re: Tesla’s headquarters will move to Austin

#636

Post by iab »

hunterb123 wrote: post #628
iab wrote: post #532

Earlier quoted context omitted.

Every time I hear someone rail against California, I think of that scene in Mad Men when Don Draper tells Michael Ginsberg: "I don't think about you at all"

You fantasize about a scene where you have a cool comeback when you overhear someone railing against a state you live in? Then you think about it again and comment on a public forum about it. Yeah that's totally not caring at all.

This is a good example of what I am talking about ^

Re: Tesla’s headquarters will move to Austin

#637

Post by dragonwriter »

muzz wrote: post #634
anchpop wrote: post #621

Earlier quoted context omitted.

yeah, 50 million over 10 years is nothing. That’s 5 million a year. They made 101 million profit in a day by selling 1.5 billion worth of their bitcoin holdings

Then why do it? That amount could pay for lots of schools to built etc

> That amount could pay for lots of schools to built etc

I think if you research school costs in the jurisdiction in question, you’ll find $54 million could not pay for a lot of schools to be built. Maybe 1-2.

Re: Tesla’s headquarters will move to Austin

#638

Post by vmception »

muzz wrote: post #632
BuyMyBitcoins wrote: post #457

Earlier quoted context omitted.

I simply don’t believe SFChronicle here. I live in Texas and I see plenty of California plates on the road. The realtor I work with says Californians are flooding the market with cash. They’re offering 10’s of thousands of dollars over asking price and winning out over local offers.

The data is from the USPS. Sorry if it doesn't match some anecdotes

USPS isnt the canonical whole picture either though, have you talked to actual humans in your physical friend group to extrapolate what others did last year?

Many people moved their nexus to their parents house while physically going elsewhere with the uncertainty. USPS data has no way of accounting for that if the physical human being did not tell USPS to forward mail to where they physically were.

Anecdotes are a signal to say “look over there and see where the hypothesis goes”, if people havent done that and simply invalidate anecdotes because meme, then the answer is not known

And for many questions the data doesn’t exist, just because someone elevated USPS change of address filings as a signal doesn’t mean it is the strongest

Re: Tesla’s headquarters will move to Austin

#640

Post by pvarangot »

oceanplexian wrote: post #383
pvarangot wrote: post #158

Earlier quoted context omitted.

I talked to several Tesla and former Tesla folks that will probably relocate because of this, and the say is that since Austin in less NIMBY than the Bay Area new housing will get built and prices will go down. It's a more complex bet than just "we move there because houses are affordable now".

It’s a no brainer, my company offered to let me move out of CA a few years ago. My utilities are 50% cheaper and more reliable, crime is lower, the air quality is better, and I bought a new construction with 10G Fiber Internet (You will never get this in California due to failing infrastructure). I miss is the arts, culture, and nightlife, but that was wiped out by government-enacted COVID restrictions so there are f…

> new construction with 10G Fiber Internet (You will never get this in California due to failing infrastructure)

I've had 10g fiber in three places in San Francisco and almost moved to a house in Cupertino that had 10g fiber. Not sure about the rest of California honestly.

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