Posted on 11/09/2020 12:23:55 PM PST by Vendome
Joe Lonsdale co-founded Palantir Technologies, which just went public, and was an early employee at PayPal. But in recent years he's been a venture capitalist, running 8VC out of San Francisco. Now he's moving the investment firm to Austin, driven out of California by taxes and other concerns. According to CNBC, Lonsdale has already hosted Elon Musk and Michael Dell at his new Austin home.
(Excerpt) Read more at bizjournals.com ...
LOVE Child of the sixties, too groovy man
Southern California
Merciful Maude.
I hope he left his crap ideas in California.
We’re trying real hard to keep Texas on the good guy team!
Leave your “voting habits” in SF, Joe.
Don’t bring em to Texas with ya..we don’t need em.
Gas company
Texas needs to impose a California imagration tax.
True enough. Politics aside I happen to like Austin. Any college town, really. Maybe I’ll spare Stanford.
There are still a number of defense contractors in Southern California. Lots of aerospace suppliers still here. Remnants of the Howard Hughes era. California managed to drive out almost every major industry. If not for Tesla there’d be no automotive industry left but when I was a kid there were several auto plants here. Movies still have an imprint but a lot of the production is done out of state or out of country. Silicon valley is really more a stroke of luck, because the real innovators were here in the years after Nixon and Reagan. There is no incentive for them to stay, other than ideological. If they actually had to pay taxes here they’d run to another state. But they cheat. Legally cheat, using old tax loopholes. Those loopholes are now mostly closed but they are grandfathered in. Meanwhile, people making $200k a year can’t afford to live anywhere near their work. Maybe Covid-19 will change the dynamics. Work from home, why work in a state that has a 14% income tax bracket? Myself, I’ve got my eyes on Reno. Expensive, because of all the Cali expats. But a move would pay for itself in 18 months.
Nevada side of Lake Tahoe was my choice. It's a 51 minute drive to the VA in Reno.
Ca people need to stay in CA and suffer the consequences of their actions. When they move to red states they pollute them and turn them blue.
And joy to the world.
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