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Things are very different in Silicon Valley and in California now from the 90's when Musk was on the team that started Paypal. I think he might not want to be
by nickthemagicman 6y ago
Things are very different in Silicon Valley and in California now from the 90's when Musk was on the team that started Paypal.
I think he might not want to be in the NEW California and Silicon Valley.
I could spend a lot of time doing research and trying to figure out why... but things have changed somehow.
I think the mass exodus of people from California kind of supports his decision.
I think California has a negative growth rate last time I checked.
- boringg 6y agoThings change - I don't disagree. Things can't always been boom times. California has had a pretty strong push since the 80s frankly with the telecom bust in early 2000s. I would say the cost of living has escalated significantly, the companies that can afford to thrive in the bay area are not hardware startups as VC money has a difficult time support most of their higher capital costs, longer growth cycles and lower multiples on return. The pressure to succeed and level of talent is incredibly competitive. Therefore a lot of the software companies have taken over which is a different demo of people. Don't believe the narrative on mass exodus - thats a signal that is being amplified in the press. Exodus? Yes, will it come back when we are not in pandemic? I would wager yes. Is it time for some people to move out of state especially those who don't or never liked it? Yes, take the pressure off our public systems.
- nickthemagicman 6y agoYou're right I stand corrected. Ignoring the Covid exodus, California had a .1% growth rate, which is in the lower half of all 50 states growth rate. Texas has the number one growth rate in the country.
- jayd16 6y agoIsn't Musk in LA?
- nickthemagicman 6y agoHe and his companies are all over.