Since 1938, Silicon Valley has been the epicenter of tech. That may be changing.<\/p>\n
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Change is afoot in Silicon Valley. A descendant of the company Bill Hewlett and David Packard founded,\u00a0Hewlett Packard Enterprise\u00a0(<\/span>HPE<\/span><\/a>), will\u00a0shortly be moving\u00a0to Texas. Another longtime Silicon Valley stalwart,\u00a0Oracle\u00a0(<\/span>ORCL<\/span><\/a>), recently announced plans to join them, saying it will\u00a0<\/span>relocate its headquarters<\/span><\/a>\u00a0to Austin.<\/span><\/p>\n A number of high profile tech investors and executives are packing their bags and leaving San Francisco, too: Elon Musk recently revealed he\u00a0<\/span>has moved to Texas<\/span><\/a>\u00a0after selling his Bel Air homes earlier this year.<\/span><\/p>\n Perhaps such moves are to be expected during the pandemic, when people are working from home anyway. Several tech firms have said they\u2019ll give employees the option to\u00a0<\/span>permanently work from home<\/span><\/a>\u00a0even after the pandemic ends.<\/span><\/p>\n Yet the relocation of corporate headquarters, company founders, and big-name VC investors points to what some have called a \u201ctech exodus\u201d from the Bay Area.<\/span><\/p>\n Some have publicly complained of mismanagement of the city and state. California has implemented Covid-19 related restrictions that some in tech\u2014particularly Musk\u2014were critical of. Florida and Texas, by comparison, have applied somewhat less stringent restrictions.<\/span><\/p>\n Silicon Valley also has notoriously high real estate prices. And California has a high personal income tax rate, while Florida and Texas have none.<\/span><\/p>\n A tech company decamping to Texas, and especially to Austin, is hardly groundbreaking. The tech hub, nicknamed \u201cSilicon Hills,\u201d is already home to industry leaders including\u00a0Advanced Micro Devices,\u00a0Dell,\u00a0and others.<\/span><\/p>\n As of November, 39 companies in tech and other industries had relocated to Austin so far this year, according to data from the Austin Chamber of Commerce. Among those are 8VC, the venture capital firm run by Palantir co-founder Joe Londonsdale.\u00a0Tesla\u00a0is also building a 4 million square foot facility just outside Austin that\u2019s expected to create 5,000 jobs, the Chamber\u2019s records show.<\/span><\/p>\n Miami Mayor Francis Suarez has also jumped on the opportunity to attract more leading firms to the area. Next Monday, Suarez is hosting a virtual roundtable discussion on how to foster the city\u2019s growing tech scene.<\/span><\/p>\n \u201cIf you are interested in growing Miami\u2019s reputation as an international tech\/startup hub and making Miami the city of the future, we want to hear from you,\u201d Suarez\u00a0<\/span>said on Twitter<\/span><\/a>. \u201cLet\u2019s work together to enhance innovation and catalyze entrepreneurship.\u201d<\/span><\/p>\n Here is a rundown of some of the big names in tech who have announced plans to leave the Bay Area for Texas just this year:<\/span><\/p>\n And here are a few who have recently moved to Florida:<\/strong><\/p>\n Joe Oringer: The founder and executive chairman of Shutterstock and a former New York resident bought a $42 million mansion in Miami Beach in October,\u00a0<\/span>according to<\/span><\/a>\u00a0the South Florida Business Journal. Oringer has since formed\u00a0<\/span>Pareto Holdings<\/span><\/a>, a firmed aimed at incubating and investing in startups in the Miami tech scene.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Since 1938, Silicon Valley has been the epicenter of tech. […]<\/p>\n","protected":false},"author":21,"featured_media":28495,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1069,43],"tags":[99,1385,178,1459,177,322],"class_list":["post-28494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editors-choice","category-management-leadership","tag-ceo","tag-ceo-northam","tag-elon-musk","tag-silicon-valley","tag-tesla","tag-texas"],"_links":{"self":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/28494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/comments?post=28494"}],"version-history":[{"count":3,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/28494\/revisions"}],"predecessor-version":[{"id":28571,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/posts\/28494\/revisions\/28571"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media\/28495"}],"wp:attachment":[{"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/media?parent=28494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/categories?post=28494"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/servidor-mxigen1.com\/ceona-antiguo\/wp-json\/wp\/v2\/tags?post=28494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Where are they going?<\/b><\/h1>\n
Who is leaving?<\/b><\/h1>\n
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