How Texas Became The New Silicon Valley
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- Опубликовано: 17 дек 2023
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Thank you for watching my video on the Silicon Valley, I am currently working on a video that takes a unique look at Mid Atlantic region (thanks to more than a thousand of you voting in a recent community poll)
Its hot though like really hot..
@@AMPProf that's true, and I believe that the heat will eventually slow growth in places like Texas, Arizona, and Nevada to some extent. Blackouts during the spring are just awful. However for now, the South West is still growing like crazy.
Simple. California taxes drive out business and people.
California's GDP is $3.9 trillion. It's managing to survive somehow.
California taxes drive out the greedy and selfish.
@@EdDunkle Mainly because of its population and high inflation. Id argue texas has way higher buying power and and a higher budget surplus than California. Texas also has a higher credit rating, Texas has more money at disposal than california, Gdp figures dont tell a story here.
I live in California and pay the exact property tax rate when I first bought my home. I would never move to Texas and pay those ridiculously high property taxes that keep going up. You don't hear them talk about that inconvenient fact do you?
@aimxdy8680 California spends more then Texas. California has a bigger budget than Texas. California is richer then Texas!
Houston is far more diverse in business than stated here, far more. The city is second to NYC for Fortune 500 companies and has the world’s largest medical center.
Austin will soon overtake Houston.
“Silicon Hills” has been somewhat of a nickname for Austin since the mid 90’s. It’s long been known for startup companies. Nothing was “stolen” so much as companies are fed up with high taxes.
Not just tech is leaving California. Georgia long ago overtook Hollywood for film production. The common denominator is high taxes.
That's a really important point, as Georgia was able to make a significant dent in (not just film production, but editing and audio work) by offering a tax credit system several years ago. That would actually be a good basis for a video on the Atlanta area.
But Silicon Valley is still the high tech capital of the world.
Georgia overtook Hollywod for film Production? That is rediculous just on the face of it.
@@lalodaniels1388 Uh, yeah, long ago. But it’s easier to laugh than look it up on your own, I know.
@@Anahi1991 You have to be completely stupid to believe that.
Houston is not dependent on oil, its home to the world’s largest medical center (employs over 100K), aerospace (Houston we have a problem? Hello??), the restaurant capital of America with more per capita than any city, the nations largest international seaport, and home to the most Fortune 500 companies after NYC with 24, Dallas has 11. Lots of misinformation in this video.
If you look at how Houston's real estate market and congestion change over time with crude prices, I would argue the city is dependent on oil. Of course, it's the nation's fourth largest city, so it has other lucrative industries though.
@@SomethingDifferentFilms The reason Houston avoided the 08 housing crash more so than other cities has to do with it not having zoning laws, nothing to do with oil. You skipped past Houston double the Fortune 500 companies yet praised Dallas for it?
@@kaymillerfromTX I'm working on a video that takes a deeper look at the "other half" of the Texas Triagle, so I didn't spend a lot of time looking at Houston or San Antonio here. However the story of those cities is perhaps the most interesting story to be told about the state of Texas.
I think its Houston metro area vs DFW. Alot of Hq's in Irving and outside Dallas proper.
@@RickJ04040DFW still comes in 2nd behind Houston metro and I believe the point was that it makes no sense to say Houston’s economy is dependent on oil. That hasn’t been true in decades.
Learning how Texas evolved into the new Silicon Valley was eye-opening
Texas won’t get as near as big as Silicon Valley. It’s a rival sure, but nothing close.
They moved there to pay less taxes.
While voting for the opposite policies that Texans do.
fewer*
And paying the same amount for homes as they did in California gentrifying many neighborhoods
Lower cost of housing and less woke idiots blocking the freeways
If it was that simple, why did they wait so long? Texas has had lower taxes than California, essentially forever.
"As the culture pivots from cowboys to coding" The culture in Austin has never been cowboys
The video focuses alot on Austin because of its growth, but my goal was to also address the state more generally.
Nor the majority of Texas. We’re a mostly urban state. The cowboy thing gets old
Willie Nelson is quintessential Austin so that's y is definitely a cowboy vibe to ATX
Austin was a technology hub before beginning in the 1980s. Now the start ups have shown up. Not as stable as other Tech. Austin will pay the price in the future for this. -former sad Austin resident
That's a good point
They should of kept austin weird 😢
@@TheSmokinApplesaustin isn’t weird lmao idk why they tried that, yknow a weird place? dayton. what the fuck happens there
@@cassidy_caustin is v weird, and extremely g*y lmao, and im coming from toronto
Just watched this. I’m a software developer and new greencard holder 🎉🎉 in the process of moving to Austin (originally from Sydney AU but been living in Montreal the last 5 or so years). Absolutely phyched to come. Problems in Canada: high CoL vs wages, and too cold…..
How did you get a green card without being a resident?
need a family members.@@swiftset
Pretty much the newest thing in Silicon Valley is artifical intelligence; I'm in Silicon Valley for several days per month, and the explosion of A.I. jobs over the past year means that Silicon Valley has already moved onto the next big thing in tech.
Austin rising! Are you part of the tech boom or considering a move? Share your thoughts on the new Silicon Valley in Austin. Let's discuss the tech wave!
can you make a video about why Philadelphia is not an alpha city. It is the birthplace of the United States.
And now those places are any more expensive
"Stole"? Y'all can HAVE IT!!!!
بسیار زیبا ❤❤❤❤❤❤❤❤❤❤❤❤❤
In Florida,Miami growing and rich. Orlando has poor leadership so going downhill with the parks.
Miami is poor when adjusting for per capita.
Yeah…no. You need to show the comparison of venture capital in sf and Austin to make this a serious argument. West coast tech is functionally unchanged and I'm not very confident what's the point of this video.
Send it back
Austin isn't even touching Seattle when it comes to tech, let alone Silicon Valley
That's true, but Metro Austin is nearly half the size of Metro Seattle. So I would say it's relative and growth in the tech industry has targeted Austin more than anywhere else since the 2010's.
@@SomethingDifferentFilms Austin metro is 4,279 square miles and Seattle is 5,782. Are you talking about the population?
You mean in terms of homeless or ?😊
bull shit two years ago it was Idaho and now that has dropped alot in realestate prices there a lot of stories circling how people that have left California for Texas regret it and want to come back but cant California need to get tougher on crime thats for sure
In my opinion I don’t think Austin will replace Silicon Valley but as a rival instead. Sure oracle, Tesla, and HP relocated to Texas but Apple, Google, and Facebook all have their HQ still in San Francisco with some offices in Austin. They still have deep investments in the area and I don’t think they plan on leaving anytime soon. Additionally, Houston’s economy has diversified to medical and aerospace. Houston has the largest medical center in the world and we have some of biggest engineering companies here in Houston. Btw Exxon’s corporate office is in Houston not Dallas.
I actually don't quite get it. Austin has less land, worse climate, no international airport, no harbor, no outdoor activity (except jumping into the river in summer) and no iconic tourist attraction nearby... But now the house price is already going up to an unaffordable level. How can we see the potential to beat Seattle or Silicon Valley on tech someday? Tech people earn so much money to not live in a cozier place, just because Texas doesn't have state income tax and Austin got some tech offices?
You forgot high property taxes also.
Texas has higher property taxes than California. That’s a fact.
You obviously don't know much about Austin. I moved here from L.A. back in 1994 and this video only presents a small bit of the many changes and growth that has been happening in Austin over the past 30 years. That change and growth has only accelerated after the great recession and even 10X more since the covid-19 pandemic. This never ending growth and change is nothing new to the Austin locals and longtime transplants like myself.
It’s just a whipped-together story in order to create a video. Typical RUclips fast-food production stuff.
Also, good call on the outdoor spaces; I couldn’t believe how paltry regional parks & open spaces are in Texas cities, compared the the Bay. One would expect it to be completely the opposite.
Uh I don't think a port is a big requirement for what are largely software companies.
California doesn't have an overdependence on tech. Maybe some small suburbs in Silicon Valley does, but Los Angeles and San Francisco has a far more diverse economy than tech. 95% of jobs here are not in tech
I'm guessing he mainly meant tax revenue?
Goooooo CALI RULES
What's odd is that those companies are leaving now from today's paper
They keep enacting the laws they've been doing recently, and all these companies will be back in California, no woman who values her life is going to want to work in Texas
its texas, they probably dont believe women are capable of doing this work anyway.
lmao no they wont. Sorry you cant murder babies.
I suspect California will manage to be even worse.
Weird, I’m a woman just like millions of others here and I’m fine. Turn CNN off for a day.
@@peppapickmeisha bless your heart
...but higher property taxes.
LOL!l no. Austin didn't steal anything. The Tech scene in Austin is a flop., and it pales to the West Coast. Corporate demand for flying is so low that the Austin airport lost many routes because the business is not there. Even some flights to London were canceled because of low business demand. The experts always knew that Austin's "tech" setup was just an accounting maneuver to set up HQ and back office operations in TX to avoid many corporate taxes. At the same time, most of the workforce prefers to stay on the West Coast, where all the talent is concentrated.
California certainly isn't going to lose its tech sector, I would argue it won't even lose its tech hub status. However it's lost important companies and more and more investment is headed to places like Austin, the Pacific North-West, and the Mid-West. While the Bay area is often a second or third choice for growth-focused tech businesses, and as capital and skilled labor continue to spread out that trend only hastens. The problem for California is how much it depends on the revenue from those tech companies and the high-earners that work for them, as a loss of say 3% would be deeply difficult for the state's bottom line.
Austin just gained routes from Delta (only Virgin cut the London route, you can still fly American and British Airways).Seems like an Ebb and Flow. Plus in alot of ways its easier to just focus on DFW and Houston and have people from Austin layover there. Some airlines made cuts at SFO too, and there were additions. Airlines are just trying to figure it out as the corporate world realizes travel patterns are shifting. Silicon Valley will continue to be the tech hub of America (it would benefit the average person if that was not the case imo) and Cali will continue to be a great place for the super rich talent who make 100's of k a year and super poor and middle class people will continue to leave. Silicon Valley is the best argument imo against trickle down economics, which most tech people ironically say was a bad idea.
I am also interested in the "Experts". Most articles I have seen basically just have a few anecdotal stories about how its too hot and the fact that Austin did not overtake Silicon Valley, therefore , NO TECH!. Also not sure why you brush past the fact that a lot of companies will raise money and have leadership in Silicon Valley and then invest the money in Texas. On a CrunchBase report all it aggregates to is that there was a 300m to a SV company, it doesn't show the 150m they put in a new office in Austin that will employ 200-300 at 75k+ a year.
Cope
@@RickJ04040 Actually most people leaving california are high and middle class earners. Elon musk (wealthiest man) literally left california lmao