Tesla moving HQ to Austin (layoffs, universities, taxes)

[ParaguaneroSwag]

Regardless of Elon’s disappointing Austin plans, another key factor here is the layoff wonderland that NorCal has been going through since the latter half of 2021. The layoffs that are still ongoing. The job market in NorCal I’d imagine is looking great over there (for employers). May as well take some of that talent away from the Silicon Valley companies laying off their employees.

[blameyourself]

Originally Posted by ParaguaneroSwag

Regardless of Elon’s disappointing Austin plans, another key factor here is the layoff wonderland that NorCal has been going through since the latter half of 2021. The layoffs that are still ongoing. The job market in NorCal I’d imagine is looking great over there (for employers). May as well take some of that talent away from the Silicon Valley companies laying off their employees.

I thought Austin was getting hit pretty good (perhaps Tesla is not part of that?).

https://www.kvue.com/article/money/a...ob%20in%202023.

Austin ranks 5th highest city for tech layoffs

[Need4Camaro]

Yeah, It isn't just SFO. The tech layoffs are happening everywhere.

Tech is boom and bust though. One moment they will mass-hire, and typically hire more than what they actually need. Then when they get the whim of a potential recession or find a way to get the work done cheaper, they drop an entire department, maybe keep a senior or two. I personally do not get attached to employers in tech as they are generally unreliable.

Companies right now are just shedding excess weight. Incase a recession does happen, that they will be able to float through it with minimal fiscal losses.

[Ice_Major]

Originally Posted by Need4Camaro

Yeah, It isn't just SFO. The tech layoffs are happening everywhere.

Tech is boom and bust though. One moment they will mass-hire, and typically hire more than what they actually need. Then when they get the whim of a potential recession or find a way to get the work done cheaper, they drop an entire department, maybe keep a senior or two. I personally do not get attached to employers in tech as they are generally unreliable.

Companies right now are just shedding excess weight. Incase a recession does happen, that they will be able to float through it with minimal fiscal losses.

The dangers of having a non-diversified economy. Tech has become such a large part of Austin's economy exposing the city to the boom-and-bust cycles you mentioned. Hopefully leaders can use the “cool city buzz” to bring in other industries so not to become too reliant on tech for driving and sustaining growth.

[Need4Camaro]

Originally Posted by Ice_Major

The dangers of having a non-diversified economy. Tech has become such a large part of Austin's economy exposing the city to the boom-and-bust cycles you mentioned. Hopefully leaders can use the “cool city buzz” to bring in other industries so not to become too reliant on tech for driving and sustaining growth.

I just say it is what it is. Thats the trade off with tech. Tech workers make substantially more than the average trade, on the higher end of tech, we are up there with attorneys and doctors... ...but there is just a large risk of a falling out due to a change in the industry which can happen pretty much overnight. I just use the excess to pay my mortgage and bills in advance incase I run into problems with the primary job. That plus I use Uber as a side hustle incase I find myself unemployed... ...and honestly, I don't become afraid of working multiple jobs if an opportunity exists. The trick with tech is staying ahead of the curve and doing everything you can to avoid living paycheck to paycheck. That means accepting that at any given moment, your job can disappear, so when something happens, it's not an immediate emergency on your behalf... and using any opportunity you can, to make excess money so if the sky does fall, you're not in trouble.

Companies speak of all this morality BS when it comes to company culture but trust me when I say they will not think of anything moral or bat an eye at the thought of dumping you, right before Christmas, when your property taxes are coming due if it means they can save a few pennies.

To be fair,

Austin, Seattle, SFO, ect are all in the same boat in this regard. It's just what they are. They're not in position to be diverse economical pools like DFW, Houston, Atlanta, Los Angeles. Most of those had primary industries before tech grew there. Atlanta, DFW and Houston were logistics (O&G / and being a major port of entry for Houston). Austin on the other hand met large portions of its growth due to tech and was never logistically connected for other trades (no major rail hubs, no major airports, only 1 interstate). The cool factor isn't going to be enough to drive other industries here. Cost and complexity of operations is what would have to decrease, and right now it still makes far more sense financially to operate in Houston or DFW if you're not a tech company looking for the tech talent in software engineering or looking for the cool factor due to amount of existing industry and industrial support in those cities.

[ashbeeigh]

Originally Posted by Ice_Major

The dangers of having a non-diversified economy. Tech has become such a large part of Austin's economy exposing the city to the boom-and-bust cycles you mentioned. Hopefully leaders can use the “cool city buzz” to bring in other industries so not to become too reliant on tech for driving and sustaining growth.

Ahhh. So maybe my choice to be a social worker may pay off. We’re always needed.

[Need4Camaro]

Originally Posted by ashbeeigh

Ahhh. So maybe my choice to be a social worker may pay off. We’re always needed.

Your field of work is definitely more stable I will admit that.

Most things funded by some form of government is typically is stable, but unfortunately also generally underpaid.

[ParaguaneroSwag]

Originally Posted by Need4Camaro

Yeah, It isn't just SFO. The tech layoffs are happening everywhere.

Tech is boom and bust though. One moment they will mass-hire, and typically hire more than what they actually need. Then when they get the whim of a potential recession or find a way to get the work done cheaper, they drop an entire department, maybe keep a senior or two. I personally do not get attached to employers in tech as they are generally unreliable.

Companies right now are just shedding excess weight. Incase a recession does happen, that they will be able to float through it with minimal fiscal losses.

It’s not just SFBA, but SFBA is by far the front runner in the United States.

[blameyourself]

Originally Posted by ParaguaneroSwag

It’s not just SFBA, but SFBA is by far the front runner in the United States.

As would make sense since they're the leader in the industry in the U.S. You seemed to be implying in post #51 that Austin wasn't experiencing layoffs. No?

[ParaguaneroSwag]

Originally Posted by blameyourself

As would make sense since they're the leader in the industry in the U.S. You seemed to be implying in post #51 that Austin wasn't experiencing layoffs. No?

No. The post was about the layoffs in Silicon Valley giving Tesla an opportunity to land talent without over paying for it due to the job market. What does that have to do with Austin?