The Wall Street Journal news pages have a summary of the exodus from California:
The region's latest emigrant is database giant Oracle Corp., a fixture of Silicon Valley for decades that last year signed a 20-year deal to put its name on the San Francisco Giants' stadium, Oracle Park. The $180 billion tech giant on Friday said it had changed its headquarters location to Austin, Texas, from Redwood City, Calif....
It follows an announcement earlier this month by Hewlett Packard Enterprise Co. , another business-technology company with deep roots in Silicon Valley, that it is moving its headquarters to Houston—as well as similar moves by a number of well-known venture capitalists announced in recent months. Elon Musk, who had long lived in Los Angeles and commuted to Tesla Inc.'s operations near San Francisco, last week said he had moved to Texas.
Also: "Keith Rabois, a well-known San Francisco-based venture capitalist moving to Miami...said he was frustrated with declining quality-of-life issues like homelessness and the state's relatively high taxes, among other issues, and he realized he could do his job well from afar."
FutureOfCapitalism has been following the outflow of firms and individuals from New York, New Jersey, and Connecticut to Florida for some time. And we also earlier mentioned David Geffen's "renewed commitment to New York." Moving is a hassle, but as we've noted here, capital and talent will eventually flow to where they are well treated. In California's case, the only wonder is that the movement has been so slow, since the public-policy environment has been so hostile for so long.
