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Texas Attracted California Techies. Now It's Losing Them
The “Texas Miracle” loses some of its magic as Oracle announces it’s moving its new HQ out of Austin and Tesla lays off nearly 2,700 workers.
That year the tech goliath Oracle relocated its HQ to Austin, where it had already built a massive campus on the south shore of Town Lake, and Elon Musk began building a gargantuan Cybertruck factory just outside the city. In the mad summer of 2020, tech evangelist Joe Lonsdale wrote that Texas stood as a new frontier in the fight for human freedom and vowed to build a new city outside Austin to serve as a safe haven for disruptors, like other utopians who have been coming to the state for centuries. Governor Rick Perry was the main figure associated with this contest: he bragged endlessly about the deals he had struck with CEOs from colder and more heavily income-taxed states, and even about the rising price of in-demand U-Haul rentals from San Francisco to Dallas.
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