What's the next hip town?
What's the next hip town?
It's always dynamic. Being near some success is good for artists and creators because they can tap into the revenue stream without being priced out. Too few customers and the density of innovation can't exist. Too much success and only the most successful and profitable ventures can survive.
California -> Austin
I think you could probably chalk a lot of this up to where company leadership has their vacation homes.
1. No state income tax.
2. Comparatively cheaper home prices, though with news link this perhaps not for long, centrally located Austin single family homes are incredibly expensive now.
3. Vibrant tech and VC community - not at the same level as SV but a not-too-distant second-or-third.
This Bloomberg article had a chart showing change in adjusted gross income from 2017 to 2018, but I'd be interested in something going back a few decades.
https://www.bloomberg.com/news/articles/2020-12-05/even-befo...
https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iPUtINXvmFd...
Uh, no.
Austin has a lousy VC community. There are countless articles about it.
And, as for tech, for software it's mainly only Tivoli alums--and a lot of the best ones decamped for greener (read: better salary not in Austin) pastures. IBM as a technical presence has been gone forever (the Advanced Workstation Division was quite amazing and IBM Somerset was one of the PowerPC development arenas). Apple just came in so hasn't spun anybody out yet.
I personally like the heat (over the cold). I mountain bike with my kids at dawn in summer. We camp in Flagstaff which is 30-40 deg cooler (7500ft elevation) and only 2 hours away.
Of course, California is also by far the largest destination of people who move out of Arizona. They are adjacent states after all and Phoenix is, let's face it, basically in Los Angeles already.
https://www2.census.gov/programs-surveys/demo/tables/geograp... [an XLS file]
The idea that location matters is so last 20 years.