What Do Longhorns, Oracle, and Tesla Have In Common? Texas

Issue 49

12.14.20 - Silicon Valley has long been the epicenter of the tech industry for many decades, starting in 1938 when Bill Hewlett and David Packard started tinkering in a Palo Alto garage. Of course, the descendant of the company they founded, Hewlett Packard Enterprise, has ended up moving its headquarters to Texas.

Now on Friday, another longtime, iconic Silicon Valley company, Oracle, announced plans to join them – stating that it will relocate its headquarters to Austin. There has been a string of high-profile tech brands and executives leaving California besides just Oracle though: Last week, Elon Musk said he has moved to Texas after selling his California home earlier this year and sending out many tweets stating his frustration with the local government.

Such moves are to be expected during the pandemic when people are working from home anyway. Several tech firms have said they'll give employees the option to permanently work from home even after the pandemic ends. Many have also voiced complaints of mismanagement of the city and state, such as Musk.

In the words of the great American folk hero Davy Crockett, “You may all go to hell and I will go to Texas.”

Source: Bloomberg