Is the Bay Area Losing its Economic Luster as Tech Companies Move Out of State?

KQED's Forum

KQED

News Commentary, News, Politics

4.2 • 727 Ratings

🗓️ 23 December 2020

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

So far this month, two Bay Area tech heavyweights, Oracle Corp. and Hewlett Packard Enterprise, said they would move their headquarters to Texas. The news set off fears that the Bay Area and California are losing their allure to big employers and could spell future economic distress. While companies have routinely moved out of the Bay Area, some experts say this time is different -- in a troubling way. Other experts say that while the moves are noteworthy, they won’t derail the Bay Area’s economy or tech industry in the long term. We discuss the state of the Bay Area exodus and the region’s economy. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:43.6	From KQED.
0:45.9	Welcome back to Forum.
0:47.0	Scott Schaefer here today.
0:48.2	We're going to switch gears now and focus on the recent exodus of Marquis Silicon Valley
0:53.0	companies for Texas.
0:55.0	Earlier this month, Hewlett Packard announced it was shifting its corporate headquarters from Silicon Valley to Texas.
1:01.0	Then Tesla founder Elon Musk said he'd had it with California and was also heading to the Lone Star State.
1:07.0	And then last week, Oracle, which already had some of its operations in Austin, Texas,
1:12.0	said it too was picking up its headquarters and leaving. So what's going on here? And how
1:16.9	concerned should California be that perhaps we're killing the golden goose tech companies that
1:21.7	have driven our economy for so many years are thinking of leaving. Joining me are Jim Wunderman.
	...

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