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> An individual who commented on a post on the topic on the anonymous professional network, Blind, speculated that the reason behind the move could be San Franc
by andjd 4y ago
> An individual who commented on a post on the topic on the anonymous professional network, Blind, speculated that the reason behind the move could be San Francisco’s Prop C, which levied a tax upon any San Francisco business that earns more than $50 million in gross receipts.
That's lazy journalism. Given that this was the office space of a company they acquired, it could just as easily be that they're consolidating operations, or that the workers there preferred working remotely during the pandemic.
Reporting on anonymous speculation doesn't make it any less speculative.
This makes it look like TechCrunch has more of a political desire to attack taxes than to report on verifiable facts.
- diebeforei485 4y agoIt's not attacking "taxes". It's specifically pointing out the flaws in a gross receipts tax system. It affects companies with large receipts but low margins (mostly fintech companies, which is why Stripe and Square also leaving).
- ricardobayes 4y agoTaxing revenue? Yikes. Way to kill off a startup hub.