Tesla, Oracle, Hewlett Packard Enterprise, Dropbox… in addition to being tech giants, what all these companies have in common is that they all made the bet to leave California. Direction: Texas.
Ya not only space in the heart of Elon Musk: Tesla’s boss revealed thatbeyond Mars, he had a strong interest in Texas. In addition to moving there, he relocated his entire empire there and is building new factories.
Elon Musk is not the only one to leave California for the « Lone Star State ». After nearly 100 years in Palo Alto, Hewlett Packard Enterprise teams have announced move their offices to Austin en 2021. Idem pour Oracle, whose teams were notified a week ago, while their boss Larry Ellison moves to Hawaii and « account on Zoom » to get the job done. Dropbox CEO Drew Houston, meanwhile, bought a home in Texas with the objective of making it his or her principal residence. Even the favorite electronic cigarettes of teenagers, Juul Labs, follow the movement.
A Covid effect, but not that
The coronavirus crisis is one of the reasons why the disenchantment with Silicon Valley. While the United States did not shine for its management of the crisis, California is one of the states to have adopted relatively firm measures, impacting some business activity. Elon Musk was annoyed on Twitter when the California government did not authorize the reopening of his Fremont plant. But Observer notes that this exodus to Texas already existed before the pandemic. Silicon Valley’s delirious rents. Silicon Valley’s delirious rentshad ended up cooling some elk, even among millionaires. Texas, on the other hand, has certain tax advantages. Unlike other places, it has no state income tax.
Published by MÉLANIE ROOSEL DEC. 17, 2020
source : https://www.ladn.eu/entreprises-innovantes/nouvelles-gouvernances/oubliez-silicon-valley-desormais-texas/