California is on a path to bankruptcy
The future of California is really stark. The outflows have been steady and consistent, with a massive spike since covid. Silicon Valley is really what’s keeping the state afloat, and there’s currently a mass exodus to from SF to Texas. As an economy, California is betting on a house of cards that must collapse at some point. California is always the high end cap of state debt, and then debt is steadily increasing. They spend like a valley girl with daddy’s no limit double platinum card.
Yes. Tesla, HP, and now Oracle are leaving California for the state of Texas will put a distress on the states budgets due to less tax revenue being generated.
However, the exodus is still occurring. Friends of mine are relocating their startup for Austin as well. I believe Austin will be the next SF.
Anyone familiar what will happen if the state itself collapses in its own debt?
Austin is certainly on that trajectory
Exaggeration. Just wait for the pandemic to be over then pass your judgements.
News already confirmed Elon Musk is becoming a proud Texan. Oracle made the news too.
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