Why some tech companies and billionaires are leaving California

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.

While it may be an overstatement to say California is hemorrhaging people, some of the state’s major companies and wealthiest residents are leaving for states like Texas, Arizona and Florida. In 2020, Oracle, Palantir and Hewlett-Packard Enterprise were among the companies that announced they’re relocating their headquarters out of the Golden State. Wealthy individuals from the tech industry moving recently include Larry Ellison, Drew Houston, Joe Lonsdale and Elon Musk, currently the world’s richest man.

California’s population and job growth have both slowed to a trickle, with many citing concerns about high taxes, cost of living and heavy regulations. With the rise of remote work in 2020, over 135,000 more people left California than moved in — the third largest net migration loss ever recorded for the state. Although some big names have committed to stay, one recent survey found that two of every three Bay Area workers would leave the area permanently if they could continue to work from home indefinitely. Dropbox, Twitter, and Facebook 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 [ … ]

What do you think?

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Nico Norris
4 months ago

Unreasonable cost of living, outrageous housing market, wildfire crises, homeless crisis, high taxes, high regulations.

ACD
ACD
4 months ago

When you tax people for leaving the state, something has gone horribly wrong.

paradox
4 months ago

Wonder why?….
More taxes and regulations to solve the homeless problem created by too much tax and regulations.

Tag Lady
4 months ago

It’s because Democrats are ruining the California!

Polly Prepper
4 months ago

They always eat their own. The Left, the Right, doesn’t matter.  
But they’re right, California is definitely a mess. I can’t stand going there.

Franco Combs
4 months ago

All those people/businesses moving from California are the seeds of Texas’ destruction

kaching
4 months ago

High crime, rampant homelessness, oppressive taxes, social justice woke policies, illegal immigrants … soon only those who can’t afford to move will be the only ones remaining in this liberal state. Welcome to the next Detroit.

eclectic
4 months ago

Unfortunately, the California toxic mindset leaves with these people. As they move into Arizona, Florida, and Texas they will destroy these once fine states, too, with their poisonous ideologies.

escharotic
4 months ago

In California
Motor voter law: all drivers are automatically registered to vote.
Jungle Primary: Top 2 candidates with the most vote totals go to the general election We had 2 dems on the ballot for multiple offices.
Ballot harvesting legalized: Absentee ballots can be turned in by non-family members. Ballot buying anyone 
Statewide mail-in voting: Not allowed by the state constitution, but they did it anyway

Adolfo Lyons
Adolfo Lyons
4 months ago

California will institute a wealth tax on those that are leaving.
Remember the Iron Curtain and Berlin Wall were built to keep people in.
Like a prison.

real2211
4 months ago

California is another democrat trash state where all legal residents are leaving and illegals are moving into

Gentrified
4 months ago

The question of the article should be: “Why are still tech companies and billionaires in California?”

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