Ask HN: Why is Oracle moving to Texas?
Two questions:
1) Why is oracle moving to Texas - in other words what does it get there thst it dosnt get here 2) what does it say about the state of things to come for Bay Area?
I’m sure that both billionaires will be real happy with that situation.
2) When concentration becomes less important, there's less reason to stay in the Bay Area with all of its flaws
He is likely also following the Elon Musk capital gains tax play book and realizes that CA is going to tax him at 13% while Texas will not tax him at all.
I'm guessing there will ultimately be little change for employees, as Oracle has a huge campus in Redwood City that I would be very surprised if they abandoned. Additionally, I know people at Oracle who own local business south of the city and even vineyards north of it. I can't imagine that they would also abandon/sell those properties. Of course, they are all wealthy enough to move to Texas, at least on paper.
Ultimately though I will be kind of surprised if Ellison and crew will meet a 183 day threshold to be considered a resident of Texas. After all he owns an entire Hawaiian island.
https://twitter.com/teddyschleifer/status/133857301480438988...
And clearly no one here knows what a nexus is.