Yeah, I tell my wifey that every time my account grows decently from rents and net pay that freaking dual property tax liability knocks me down again. She doesn’t have much sympathy for me…
This is tempting. As cheap as Vegas
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CA GDP per capita still higher. Total GDP way higher. Not indicative of the supposedly terrible business environment. IMO CEO survey responders don’t consider “tons of wealthy customers” to qualify as a good business environment.
California is the center of tech (Silicon Valley) and entertainment (Hollywood). Two huge industries.
Texas is the center of what?
Austin is known as the live music capital of the world and Silicon Valley of the south.
Houston is the world healthcare hub and space exploration.
Texas is the largest oil producing state, accounting for 25% of nation’s output.
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The biggest employer in Austin is the government. .22%, then healthcare…Dell has 14,000 employees, IBM 6000…The rest of the Tech companies are fairly small employers…I would call Austin the Sacramento of Texas…As far as music that is not a large revenue source…And as far as oil. .Economies based on oil rarely do well…Look at Russia, Venezuela, Middle east…
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I bet tourism is huge for California too…
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Tourism is huge but NYC and Miami also have that. However, tech and entertainment are uniquely dominated by CA.
For sure, but the point of mentioning is that CA is very diversified in its revenue stream. We have money coming in from all directions, so even if you get a slight downturn, people do still try to travel some (international especially if cheaper here for example) that you are not dead in the water if your main and only income source dries up. We should also mention our agriculture too. All those veggies, fruits and wine even that goes out to everywhere…
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Russia and Middle East are doing badly because we overtook them in oil production. Shale and the tech that goes into precision drilling is a revolution few people talk about. Texas not only produces but also does a lot of supporting stuff like logistics and trading. Also some heavy industries move to that area to take advantage of cheap energy.
That’s all good. But for IT I say forget about it… We only need to worry about Seattle a little bit. Long term our biggest competitor will be China.
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Outdated info.
Apple 2nd biggest campus is in austin
The iPhone maker last week moved into a massive 1.1-million-square-foot campus in north Austin, as well as another smaller 216,000 square foot campus in southwest Austin, the company has confirmed. In total, Apple (AAPL, -0.04%) now has more than 6,000 employees in Texas’ capital.
Amazon, Facebook and Google are expanding fast there, didn’t release any official number, should have over 1000 employees.
Don’t like to see all that expansion happening outside of the Bay Area. I know we want to be greedy but let’s not be stupid either…
So far only lower value stuffs go there, can buy into there to hedge.
Thinking more about our economic base that is SV. Concerned too much expansion to @marcus335 country and to your Texas outpost. Kinda like when an employee works at home too much. Soon, out of sight, out of mind, boom, out of a job…
Is like manufacturing. In Singapore, we started moving lower valued manufacturing away to neighboring nations, to focus on higher value manufacturing, R&D and services. Soon we realize those high value stuffs are moving away too, so government abruptly reverse gear and encourage all forms of manufacturing and call R&D upstream manufacturing services.
What started as a trickle can turn into a down pour.
The current trend is not good, anti-growth here, cloud and AI in Seattle, lower value to Austin, SV may be thin out in the long run.
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That’s fine. We will just turn into Vancouver. Housing extremely pricey but nothing really underneath to support that.
But how long can that last? Perhaps for a small city like Carmel it could work since it survives on tourism alone but remember we have a crazy, huge budget (at least for the Fab 7x7). We have to make a lot of money in order to spend it all on providing services, tents and other goodies that some people think grow on trees…
If Vancouver managed to pull it off I think we’ll do just fine.
Why are you picking on such a beautiful state owned by Obama?
Did you forget he took over during the Jade Helm exercise years ago and took all the guns and so on?
Ask republican favorite conspiracy theorist Alex Jones 
