Thread by @techinsider

What’s the deal with Big Tech and Texas?

@Oracle is moving its headquarters from Redwood Shores, California, to Austin, Texas.

The move is the latest in a string of tech giants fleeing Silicon Valley for the Southern state. 👇 businessinsider.com/oracle-moving-…

💡 Big Tech has a long history in Austin, Texas.

Here's how the industry has ballooned in the state capital — and why "Silicon Hills" is so appealing to workers and companies alike. businessinsider.com/austin-texas-s…

💡 The migration has appeared to grow more pronounced during the pandemic as people adapt to working remotely.

Austin's considerably lower cost of living offers a nice reprieve from the sky-high costs in the Bay Area, writes @KatieCanales1. businessinsider.com/austin-texas-s…

🏡 Business Insider crunched the numbers on which Texan cities are getting the biggest boosts from Americans moving in from other parts of the country.

Austin-Round Rock had a net migration of 355,902 between 2010 and 2019, coming in at number one: businessinsider.com/texas-cities-e…

✈️ So who has moved to Austin?

Tesla founder and SpaceX CEO @ElonMusk confirmed on Tuesday that he's moved to Texas. businessinsider.com/tesla-ceo-elon…

✈️ Dropbox CEO @drewhouston is also moving to Austin, according to a report from The Information. businessinsider.com/dropbox-drew-h…

✈️ In fact, a @SlackHQ channel for Y Combinator founders who moved from San Francisco to Austin had to be capped at 150 because "there were too many people." businessinsider.com/company-slack-…

✈️ It’s not just people moving to Austin — it’s firms, too.

Palantir co-founder Joe Lonsdale had already moved his family outside of the Bay Area.

In early November, he confirmed that he was moving his firm @8vc to Austin as well. businessinsider.com/joe-lonsdale-p…

✈️ Insurance startup @TheZebraCo moved to East Austin in 2019.

Cofounder @dziabiak told Business Insider that he chose to make the move after a visit to the city during its annual music and arts festival @aclfestival. businessinsider.com/the-zebra-offi…

✈️ Meanwhile, Hewlett Packard Enterprise is moving its Silicon Valley HQ to a different Texas city, Houston.

Following the report, Texas Governor @GregAbbott_TX tweeted: "Texas remains the best place in America to do business." businessinsider.com/hewlett-packar…

✈️ Tesla also has a Cybertruck factory under construction in the Austin area.

Here are the top cities in Texas where entrepreneurs are starting companies and raising capital: businessinsider.com/austin-dallas-…

🏆 In June Business Insider ranked Texas as the best state in the US for entrepreneurs — the state added small businesses at a rate of 9.5% per year from 2016 to 2018. businessinsider.com/top-ten-us-sta…

🚨 It all begs the question: is Silicon Valley finally over?

Tech elites are making moves out of San Francisco, as they rethink the area's costs, political climate, safety, and more, write @MeghanEMorris and @berber_jin1.

Read more. 👇 businessinsider.com/tech-elites-le…