Why some tech companies and billionaires are leaving California

  • 📰 CNBC
  • ⏱ Reading Time:
  • 1 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 4%
  • Publisher: 72%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

As Oracle, Palantir and Hewlett-Packard Enterprise move their headquarters out of California, experts say the state needs to find ways to reverse the trend.

are among the Bay Area companies that have already offered permanent remote work to most employees. Watch the video to learn the reasons behind the exodus, what's at stake if it continues to accelerate, and how experts say California should entice people to stay.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Bye California

California shouldn't chase greed, leave that to states like Louisiana and Texas that would gladly sacrifice their citizens to give a corporate tax break to billionaires.

It’s almost like there is a solution there but I can’t put my finger on it…

Stop voting for Democrats

Meanwhile in texas they can't sell the cars made there to Texans. backwards

Things really changed for me when I started investing with LisaRights2 I never knew for ex trading would be this profitable and I'm glad it went well for me. I invested $1500 abd was able to make profits of $19,600 within a week

Stop voting for liberals

How about lowering your damn outrageous taxes.

Simple: lower taxes, and stop all that woke nonsense

Don’t we need y’all to let the door hit yo a$$ in its split as you cut

Get rid of Gavin newsom for a start.

Great, they can move to Texas or Georgia or Florida where democracy is considered an inconvenience.

Duh. Make tax code more friendly to business and individuals. Sales tax over 9% Gas tax highest in nation Marginal highest income tax rate of 13.3%. And the place is a mess. 4th generation CA here and looking at moving out

They could do the polar opposite of what they’ve been doing for decades... You’d think going from the wealthiest state with highest quality of life to the poorest state with worst quality of life would have been a wake up call. It wasn’t though and neither will this be.

😂 Duh

Not that hard to explain…. You want less of something….Tax it. Pretty simple.

They can’t

Nothing will change until cali takes the red pill

A Call to Protect People and Nature! Thread to watch/read:

WONT BE MOVING TO ILLINOIS ANYTIME SOON 😱

overthrow the commie governments

The garage in Palo Alto the original entrepreneurs have moved?

California is not falling its a place of JESUS ALL SO

Leaving liberal mismanaged nonsense states lol 😂

Those companies have always been the black sheep of silicon Valley. No real innovation No big loss.

Why don't they just buy tax free California Muni bonds?

At what point does the state start to care? California

Ms Jener will fix it right?

Maybe the state will be livable again with a few more leaves.

Duh.

By not being cunts.

interesting 💭

Pretty sure your headline answered to your question...

Vote gop

keep the headquarters out of California, just leave the leftist workers there, lol

Cut taxes?

Might be good for the companies but not for the employees. Texas has higher property tax % than CA plus other taxes. You pay for not having state income tax, they get you. not to mention the weather. I moved from Menlo Park to Dallas 😟

They can move all they want but their employees are in for one hell of a reality check if they try to bring those liberal values to some of these tax friendly states. Culture shock does not even begin to describe it.

Lower their tax rate 😂

Let them go. Leaves room for endless startups who launch from there.

Everything comes full circle. Biggest tech like Facebook and google /twitter and amazon /Apple will collapse as they are becoming boring and regurgitate old ideas. So new start ups and new blood will move in

It can vote for independents which ia hard as dnc and rnc conspire together to destroy any 3rd party candidates. Thus cali only gets hippies like gavin or right wing ppl who golf at mara lago. If only the ppl of California had a voice in their state.

California will be fine.

We're good. Overpopulation is overrated. 🪳

You tweet this out every weekend!

It can’t, California is currently inhospitable

Leadership change.

Taxifornia

The state doesn’t want to

Elect a republican

Space X went to TX. Now their rockets can’t stop exploding. CA will survive with new start ups.

this is terrible news

Joe Biden taken to hospital. joebiden whitehouse kamalaharris

California can reverse the trend by becoming a Republican State. Truth

The realities of socialism

Two of the three named companies are no longer tech leaders. These dying companies can leave innovation hubs on the west coast at their peril.

CA will get big F. then it will be renamed CAF.

U CAN BET THESE COMPANIES ARE NOT COMING TO ILLINOIS 😱

CA can't be so stupid and liberal. You either support business that create jobs & tax revenues or you don't. And quit spending OPM on stupid leftwing stuff

All they have to do is cut taxes.

Go Red. It's the only way any state will progress.

Palantir? Is that even a big company?

To CA Governor...

By being more tax friendly? Seriously. Y'all are supposed to understand business.

It doesn't need to reverse the trend. Every right-wing libertarian needs to keep moving until they eventually die by falling off the edge of the earth. Texas needs to do a better job of forcing tax instead of acting as dishonest as Singapore.

Step 1) Kick out the governor Step 2) Kick out ALL of the state congress Step 3) Actually care about the success of business in California.

I would love to see CA crash and burn!

I am a victim of a MK-ultra program. Run by the cryptocurrency fanatics, the dutch government, mainstream media, various youtubers, and people on twitch. They use trauma based mind-control to trigger self-destructive behavior and try and drive me to suicide.

Techsodus won’t stop happening, California has become so tax happy they forgot to balance the scale and they have pushed business out. There’s a reason why Illinois doesn’t have a lot of big tech, high taxes. The big tech needs to get into deserts and boonies without people 1/2

Yup, I figured this shit out back in 2005, unless you're lucky to get IPO/stocks worth several millions, 11% or so state tax, redic prop taxes, rent, insurances, medical benefits, living expenses, so forth takes that $200k to $300k comp at par or below par to other places in US.

ITS AMUSING

Or why would they want to?

Please all move to Texas 🌊

Get rid of their stupid liberal policies making the working pay for the lazy.... California taxes coming to a state near you....

Not only big companies many people the real self reliant hardworking people are leaving California. It’s hard to work and give your taxes to lazy folks and illegals!

Red Forman knows the answer

Stop electing Democrats.

They can't. California is fucked. Just how the Democrats wanted it.

Pile on even more taxes, on anyone who has not left..,...seems to be the strategy

I shall be boycotting these losers who refuse to invest in our nation’s economy by being self absorbed mfker’s who refuse to pay their fair share in taxes like the rest of us!😡

Who gives a fk if whiny ass right wing billionaires move! California still has the 5th largest economy in the world!

They can’t.

good

A slow Saturday again. Retweet an article from January. Time to hire a new content manager!

If it’s anything like NY, where govt spends money because of deals with labor unions and their contractual obligations, then nothing except an amended State constitution could change it. And any attempt to would be met with heavily funded opposition as happened here

Nothing will change if Dems remain in control... unfortunately Cali is the liberal hq

California's gonna be fine lmao

Socialist often have the best ideas... right before they burn everything to the ground.

Vote the democrats out for starters.

It's not so much California that needs to reverse the trend the rest of the country that needs to start taxing he's rich trillion dollar companies appropriately. If you're not investing in our state or in our culture or Society you're a detriment

Well D-d-d-u-h! Do you really need Jim Cramer to explain it to you...?

If nobody can name a product they make are they really ‘major’ tech companies?

세계평화 질서유지 유대인 격리조치 해야합니다. 널리 인간세계(人間世界)를 이롭게 한다.

Techsodus

Palantir moving to Russia who knew?

It can’t. Damage done

Is it possible to find a good guy on Twitter?

there is no such thing as tax free state you will it other ways like high property tax and other taxes

Most people day enroll benefits leave unchanged % entire employment...

I think research just hitting a button early stages in life probably 18-30 hitting a button most employers offer retirement plan benefit common enroll benefits same % from time employed if it 5,10 or 15 years work for a company

People get old age 50-70 move California save in life early...

The centre is everywhere now

Stop being socialist. Stop putting “greens” in charge of the environment and the energy policy.

And so much more business being done in Toronto, called Hollywood North since the 1970s.

California is a mob state... it barely wants a Film and TV industry... cause every county is like a mafia that protects it's residents from having higher skilled workers move to the region. California needs to keep itself retarded or something, right GavinNewsom ?

Frankly, I'm glad. Silicon Valley sucks. Let it be Texas's problem. Maybe housing won't be so outrageous on the Central Coast anymore.

RecallGavinNewsom and elect chamath and follow through on his policies.

2025 prediction: Omaha, Nebraska will be the tech capital of the world. FYI - We have a Dairy Queen.

Yet if the rest of us were to try and dodge taxes its a crime.

Not possible. California is over.

Without competitive tax environment many companies around the world will struggling to survive. This is not different for the big ones considering those are competing against companies from countries where the tax is lower or allow tax evasion...

The very low key and intelligent way California is correcting its over-population problem. Cali's number one industry is farming and agriculture so its just a matter of time before Califonians can breath the states beautiful clear green ocean and mountain air.

Elect chamath governor.

chamath, that’s how.

Oracle is a dying company as is HP. As long as the growth companies continue to set up show in CA, nobody will care. Oracle... pff...

Newsom Exodus for starters

'Texas might not have any state income taxes, but it has plenty of other costs.'

Probably because the politicians are just too focused on money making ventures rather than family and community friendly serendipity. Money != happiness Money is often the root cause of all imbalances, and politicians are to blame, 100%.

Yes, for God sake leave. We've got 44 million people here. What's losing 135,000 going to do? The quality of life has gone down. Let them go and don't look back. We will do fine we just need to lose another 35 million. We will survive and see our quality of life get better.

Maybe this should be the story

Make California a state with no state income tax; hire the homeless drug addicts to clean the feces off the streets; make loitering a criminal offense once again.

Wow you guys are going to tweet this story everyday.

They are legacy companies who also off-shore profits to evade taxes. Many received tax credits over the years. Maybe the headline should be, why don't major companies want to pay their fair share into the society that helped build them. Makes room for up and coming companies.

Stop taxing them so much 🤷‍♂️

Please. Your “trend” takes are omitting the fact that virtually all of these companies are actively building new campus spaces in California now. People want to be together. Zoom meetings have a time limit for a reason — we will all be having cocktails at a bar in SF this summer.

Such a missed opportunity to call it Techodus.

Easy wake up and vote Republican!!!

Recall the governor

Build newer tech firms with innovative ideas. California is going to continue being the hub of innovation and creativity.

More good news please(((

On the bright side the commute should be faster

Because TaxationFundsTheCorrupt too much here. wakeyWakey if your shill of network ever can.

Because the hardworking and contributing people are heavily exploited.

Democrats.

Decades of Democrat policies

But the problem is they will go to states & vote in the same type of idiots that ran California into the ground

Bcse it’s a dumpster fire and somehow they keep electing the same people who put them there. It’s the definition of insanity. Stop coming to states that are running well and voting the same

Gee. I wonder why? Huh? That’s a tough one

Deciding whether to live in California is an IQ test. Smart people are getting out.

Because it is a terrible state to live and work in.

DA, article should be “why are any companies staying in California”? It’s against a companies fiduciary responsible paying California higher taxes!

because of DEMOCRATS. You're are welcome. You own me $1 million for that. idiots fakenews

They need to go ruin other states🤷🏻‍♀️

Keep voting for the same morons. Reap what you sow.

Sadly, most bring the liberal policies they’re fleeing with them and corrupt another state 🤦🏼‍♀️

Progressive liberal policy. Duh.

Because Democrats destroy everything

GavinNewsom really needs to ponder this...

Let me guess. Taxes. Regulation. Crime.

1. One party statw 2. No checks and balances 3. Moved to the far left 4. Taxed is populist and getting higher 5. Net result. Crime, drugs, poop, tents, unemployment and 6. Getting worse Now how can liberals see this a a blueprint for the US EpicFail RecallGavinNewsom

Because it cost too much to live there along with the fires and earthquakes, people are hightailing it out of there.

Newsome

Cuz they are greedy takers that don’t want to pay their fair share in taxes? That’s probably it...

And all heading to texas!! Leave my texas alone

Hi Califórnia act on hydrogen vehicle structure.

California as a state, is in big trouble, this is the beginning of a mass exodus away from there.

Australia Australia Latest News, Australia Australia Headlines