Big Tech billionaire Elon Musk has been signaling for quite some time that he is unhappy with California, its politicians, and its senseless rule-making.
In 2021, Musk moved Tesla headquarters to the Lone Star State, inspired by the state’s arrogant, power-mad, and greedy politicians.
More recently, SpaceX CEO Musk announced that the firm would also relocate its headquarters to Texas. This time, his decision was based on the state enacting woke legislation depriving parents of basic rights over their children.
Now, Musk is shuttering X’s San Francisco office, weeks after announcing that he will move the social media company’s headquarters to Texas but will have locations in the Bay Area. This is a continuation of the “X-odus” that is in response to the state’s new controversial student gender identity law.
In a staff memo on Monday, X CEO Linda Yaccarino said the office closure will occur “over the next few weeks” and described the decision as “the right one for our company in the long term.”“For those based in San Francisco, I know this will impact you all in different ways. Leadership is actively working on plans, including transportation options, for those directly impacted,” Yaccarino added in the memo, according to a copy obtained by Fortune.Yaccarino said X would transfer operations to new “primary locations” for its Bay Area employees, including an existing office in San Jose, as well as a “new engineering-focused shared space” in Palo Alto created to house Musk’s artificial intelligence startup xAI.
Musk indicates the new headquarters for the social media behemoth would be Austin, Texas.
“And X HQ will move to Austin,” said Elon Musk in a post to the platform Tuesday afternoon. Musk purchased the social media giant in a $44 billion deal in 2022.At this point, it’s unclear how much office space, if any, X will retain in San Francisco, or whether the company will require its employees to relocate to Texas — though Musk is known to be a staunch critic of remote work. A timeline for the potential move is also not known. The company did not respond to a message Tuesday seeking comment.
Just how angry is Musk about the new law? To put it in perspective, about a year ago, there was no plan to move X headquarters.
California’s progressive politicians have ignored warning after warning and proceeded to force woke morality on a clearly unwilling population. Consequences will be more frequent and much more painful in the future.
Meanwhile, Gov. Gavin Newsom recently signed California’s budget with an estimated $46.8 billion deficit built into it.
The deficit was about $32 billion in 2023 before growing even bigger this year, with more deficits projected for the future in the nation’s most populous state. Saturday’s signing came just two years after Newsom and Democratic lawmakers were boasting about surpluses that totaled more than $100 billion, the product of hundreds of billions of dollars of federal COVID-19 aid and a progressive tax code that produced a windfall of revenue from the state’s wealthiest residents.But those revenue spikes did not last as inflation slowed the economy, contributing to rising unemployment and a slowdown in the tech industry that has driven much of the state’s growth. The Newsom administration then badly miscalculated how much money California would have last year after a seven-month delay in the tax filing deadline.
With the loss of big tech firms, energy companies, and other businesses, this year’s budget deficit will likely expand considerably to about the size of the San Andreas Fault.
You know who’s going to have the last laugh.
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