the trend that company move to Texas
Member since 2019 · 7k+ posts · 4k+ votes
so based on these recent huge tech layoffs in CA, there's structural job changes that due to Fed Interest Rate, tech company can not longer operating in sustainable fashion in CA, so they have to move operation. Either to Texas, to India to Arizona or to Florida. So even company is moving out. This would obviously trigger more out-migration. One biggest S&P company is saying to their employee, either you move to Texas or we give you severance package !
I think the trend is pretty clear for next decade. There is more growth in TX,AZ,OH,WI,FL/India most likely. This is the trend that's very apparent. Texas is good in particular because cost of doing business is "moderate" with ample size of headcount available in the market and practically has no housing issue. What do you see in Texas ?
@Carlos Ptriawan Many areas in Texas have seen unreasonable property tax increases over the past few years. My sister owns 17 SFH that she bought in Denton TX more than a decade ago and refinanced to low interest rates during the pandemic. Most of them have less than $130,000 left on their mortgage but have appreciated to around $350,000. Their property taxes have gone up by approximately 60% each year for the past 3 years and 40% for several years before that. She barely breaks even now on these properties that were once her retirement plan and if she has any unexpected expenses forget it, those all come out of her pocket.
All of the tax dollars are going to widen roads to support more people moving to the area and to build more schools to accommodate the influx of kids. There are no benefits to the property owners that aren’t using these things.
She wanted a new investment in Texas and showed me a 6 unit apartment building that was $1.4M and after expenses LOST $3875/month. I told her to forget ever buying a property that lost money unless maybe it was waterfront and to let me find something. We bought a 5 unit property for $340K that cash flows$2000/month. What a difference!
@James Hamling I think OP is only going after tech companies, if they aren't making EVEN MORE money, then apparently soemthing like real estate can't move forward --- or something, I can't figure it out. I thought most of Apple's factories are overseas.
@Carlos Ptriawan you do realize that I thought JP Morgan just came out with massive earnings? Yeah, its slightly under analysts' estimates, but still supposed to be a huge success. But, thats not tech. So, how does Apple's performance affect TX, especially with its cuts of which you speak? I don't understand. Its work for Apple or nothing? They won't pay less to match the much cheaper TX cost of living?
You're right Foxconn in China does bulk of hardware manufacturing, that's what happened during the dot bomb/tech wreck. Apple software, R&D, and LOTS of other ventures you wouldn't believe are what's left on US soil. They do have several machine shops though that do prototypes. Moore's law dictates that hardware and software are pretty much 2 separate entities with a symbiotic relationship.
There's tons of different types of companies within tech. 1 of my kids works on a Zika virus project in data, 1 writes software for gaming, 1 designs and builds robots.
The volume of small specialty companies that support these companies is also huge. Many are under 100 employees thus don't report under the warn Act.
large company also do not need to report if they let know the employee they would be cut off in the future but still get paid while do nothing.
I've seen so many type, immediate layoff, delayed layoffs , no layoff but no work, gone but still get paid haha LOL
but one time there's also incentives if you stay in the company while do nothing and not leaving haha LOL I still remember the silly times between 2000-2004. Then after that the focus switched to subprime mortgage in 2008.
@James Hamling I think OP is only going after tech companies, if they aren't making EVEN MORE money, then apparently soemthing like real estate can't move forward --- or something, I can't figure it out. I thought most of Apple's factories are overseas.
@Carlos Ptriawan you do realize that I thought JP Morgan just came out with massive earnings? Yeah, its slightly under analysts' estimates, but still supposed to be a huge success. But, thats not tech. So, how does Apple's performance affect TX, especially with its cuts of which you speak? I don't understand. Its work for Apple or nothing? They won't pay less to match the much cheaper TX cost of living?
You're right Foxconn in China does bulk of hardware manufacturing, that's what happened during the dot bomb/tech wreck. Apple software, R&D, and LOTS of other ventures you wouldn't believe are what's left on US soil. They do have several machine shops though that do prototypes. Moore's law dictates that hardware and software are pretty much 2 separate entities with a symbiotic relationship.
There's tons of different types of companies within tech. 1 of my kids works on a Zika virus project in data, 1 writes software for gaming, 1 designs and builds robots.
The volume of small specialty companies that support these companies is also huge. Many are under 100 employees thus don't report under the warn Act.
large company also do not need to report if they let know the employee they would be cut off in the future but still get paid while do nothing.
I've seen so many type, immediate layoff, delayed layoffs , no layoff but no work, gone but still get paid haha LOL
but one time there's also incentives if you stay in the company while do nothing and not leaving haha LOL I still remember the silly times between 2000-2004. Then after that the focus switched to subprime mortgage in 2008.
I had one boss, when he's engineer the company was acquired, move to another startup then acquired again, move to diferent startup as VP and again acquired, then he created a startup, his company is top 3 in cybersecurity. Guy is literally making 6 straight succesful shot making 7 digit in number, and he's not even famous like steve jobs, lot of people like these in our area.... no arrogance no bragging and still only has one home lol
your friend that's being fried from google is lucky he got one year severance, there're some of us that's begging to get laid off and wanna move back to taiwan or china but rejected lol
@James Hamling I think OP is only going after tech companies, if they aren't making EVEN MORE money, then apparently soemthing like real estate can't move forward --- or something, I can't figure it out. I thought most of Apple's factories are overseas.
@Carlos Ptriawan you do realize that I thought JP Morgan just came out with massive earnings? Yeah, its slightly under analysts' estimates, but still supposed to be a huge success. But, thats not tech. So, how does Apple's performance affect TX, especially with its cuts of which you speak? I don't understand. Its work for Apple or nothing? They won't pay less to match the much cheaper TX cost of living?
also it's not hard to understand why large banks are making big revenue in 2023 :
- after collapse of svb in march most these banks receive large new customer/deposits where they put it in 0% saving/checking ; then the bank swap it to treasury for risk free 5% LOL
- also bank do not need to put their HTM bond (unrealized) loss into their accounting, if they have to mark-the-market the bond then they're all in red or near bankruptcy lol
I have 18 SFR in the Dallas area. Market rent has kept up with property tax and insurance increases so I pass off my expenses onto my tenants. I have to be aggressive every year, but my tenants understand I have to pass my costs onto them because it's business.
Texas has had a net 1,000 people day population increase for the last 3 years. Each day!! People and business are moving here for a reason thanks to our business friendly governor. The Dallas area is now the 4th or 5th largest tech city. Who woulda thought that would happen by 2024!? I’m bullish on the DFW area for the next decade or two. It’s becoming the LA of the 1980’s with massive growth. And I target the cheap 200-220k homes that rent for 2k/month. Those are the cheapest homes to buy and rent in the area and have the highest appreciation and demand here. They haven’t built affordable homes here in 15-20 years. Only homes in the 650k plus range so we have a massive inventory issues with homes under 270k to buy and rent. That’s what I focus on and doing well, even if property taxes and insurance keep rising each year. Just pass the cost onto your tenants and sleep like a baby. lol
I have 18 SFR in the Dallas area. Market rent has kept up with property tax and insurance increases so I pass off my expenses onto my tenants. I have to be aggressive every year, but my tenants understand I have to pass my costs onto them because it's business.
Texas has had a net 1,000 people day population increase for the last 3 years. Each day!! People and business are moving here for a reason thanks to our business friendly governor. The Dallas area is now the 4th or 5th largest tech city. Who woulda thought that would happen by 2024!? I’m bullish on the DFW area for the next decade or two. It’s becoming the LA of the 1980’s with massive growth. And I target the cheap 200-220k homes that rent for 2k/month. Those are the cheapest homes to buy and rent in the area and have the highest appreciation and demand here. They haven’t built affordable homes here in 15-20 years. Only homes in the 650k plus range so we have a massive inventory issues with homes under 270k to buy and rent. That’s what I focus on and doing well, even if property taxes and insurance keep rising each year. Just pass the cost onto your tenants and sleep like a baby. lol
This is exactly what I want to understand , job growth in Dallas is triple digit.
thank you !!!!!!!
I have 18 SFR in the Dallas area. Market rent has kept up with property tax and insurance increases so I pass off my expenses onto my tenants. I have to be aggressive every year, but my tenants understand I have to pass my costs onto them because it's business.
Texas has had a net 1,000 people day population increase for the last 3 years. Each day!! People and business are moving here for a reason thanks to our business friendly governor. The Dallas area is now the 4th or 5th largest tech city. Who woulda thought that would happen by 2024!? I’m bullish on the DFW area for the next decade or two. It’s becoming the LA of the 1980’s with massive growth. And I target the cheap 200-220k homes that rent for 2k/month. Those are the cheapest homes to buy and rent in the area and have the highest appreciation and demand here. They haven’t built affordable homes here in 15-20 years. Only homes in the 650k plus range so we have a massive inventory issues with homes under 270k to buy and rent. That’s what I focus on and doing well, even if property taxes and insurance keep rising each year. Just pass the cost onto your tenants and sleep like a baby. lol
This is exactly what I want to understand , job growth in Dallas is triple digit.
thank you !!!!!!!
What is your rationale for suggesting that those statisticians are inaccurate?
U3 unemployment "rate" doesn't tell the whole story, there's more to unpack. Check BLS & U6
VC bailed in July, Y combinator meetings look more like a beggars banquet & pitch decks are worth less than a deck of cards.
Its somewhat doubtful that AI will carry the bulk of the labor force, especially considering it's designed target is eliminating $180k year admins etc.
Yes we've always been the tech hub, the question is how much market compression will happen in "middle income jobs" 120k to 180k
4-1-24 fast food min.wage is $20 p/hr
All things being relative of course most will be ok, but market compression does affect some, not all, but some. Chances are there'll be more outmigration to Texas.
BTW I love texas, all my ex's are there 😉
Behind every set of numbers is a story or multiple stories that help explain the situation. In aggregate though it shows trends. Texas has always been a great place to do business and Texas and Texans has always been known for wild west big bets that make or break fortunes. Even the Simpsons poked fun with Richard "Rich" Texan and Shady Bird Johnson... lol. Also the Ex's laws (alimony) in Texas are very good relative to CA. Trade up... joking.
What is your rationale for suggesting that those statisticians are inaccurate?
U3 unemployment "rate" doesn't tell the whole story, there's more to unpack. Check BLS & U6
VC bailed in July, Y combinator meetings look more like a beggars banquet & pitch decks are worth less than a deck of cards.
Its somewhat doubtful that AI will carry the bulk of the labor force, especially considering it's designed target is eliminating $180k year admins etc.
Yes we've always been the tech hub, the question is how much market compression will happen in "middle income jobs" 120k to 180k
4-1-24 fast food min.wage is $20 p/hr
All things being relative of course most will be ok, but market compression does affect some, not all, but some. Chances are there'll be more outmigration to Texas.
BTW I love texas, all my ex's are there 😉
Behind every set of numbers is a story or multiple stories that help explain the situation. In aggregate though it shows trends. Texas has always been a great place to do business and Texas and Texans has always been known for wild west big bets that make or break fortunes. Even the Simpsons poked fun with Richard "Rich" Texan and Shady Bird Johnson... lol. Also the Ex's laws (alimony) in Texas are very good relative to CA. Trade up... joking.
there is higher chance now that Austin in long term could replace Bay Area as tech center ….with all these company committed to move the HQ/operation.
Same story like in Bangalore 20 years ago except India development was much faster
What is your rationale for suggesting that those statisticians are inaccurate?
U3 unemployment "rate" doesn't tell the whole story, there's more to unpack. Check BLS & U6
VC bailed in July, Y combinator meetings look more like a beggars banquet & pitch decks are worth less than a deck of cards.
Its somewhat doubtful that AI will carry the bulk of the labor force, especially considering it's designed target is eliminating $180k year admins etc.
Yes we've always been the tech hub, the question is how much market compression will happen in "middle income jobs" 120k to 180k
4-1-24 fast food min.wage is $20 p/hr
All things being relative of course most will be ok, but market compression does affect some, not all, but some. Chances are there'll be more outmigration to Texas.
BTW I love texas, all my ex's are there 😉
Behind every set of numbers is a story or multiple stories that help explain the situation. In aggregate though it shows trends. Texas has always been a great place to do business and Texas and Texans has always been known for wild west big bets that make or break fortunes. Even the Simpsons poked fun with Richard "Rich" Texan and Shady Bird Johnson... lol. Also the Ex's laws (alimony) in Texas are very good relative to CA. Trade up... joking.
@James Hamling I think OP is only going after tech companies, if they aren't making EVEN MORE money, then apparently soemthing like real estate can't move forward --- or something, I can't figure it out. I thought most of Apple's factories are overseas.
@Carlos Ptriawan you do realize that I thought JP Morgan just came out with massive earnings? Yeah, its slightly under analysts' estimates, but still supposed to be a huge success. But, thats not tech. So, how does Apple's performance affect TX, especially with its cuts of which you speak? I don't understand. Its work for Apple or nothing? They won't pay less to match the much cheaper TX cost of living?
Tech, almost across the board, all but exclusively manufactures off-shore of U.S. so with that, correct, the hardware related side of things and those $'s are kind of a nothing-burger for anything U.S.. That leave's software side of things, which is predominantly on-shore. But here's where ai comes into it, how many of those software positions are the type that ai can, and arguably should, replace.
See, this is the problem with chasing the fantasy of designing a nation to be all top-end. There was this fantasy that U.S. would net export software. Well, turns out we are, just not via sale, instead via hacking, lol. Not much GDP produced from hacking "purchases", lol.
I believe this is the "origination" in thinking OP is coming from when talking of such layoff's in tech. The combination of ai optimizations making certain software positions obsolete, fact that there is near to no tech manufacturing segment in U.S. (in % ratio of market share that is) and a limp software export industry because reality is everyone just steals it in 1 form of fashion, because they can, rather easily vs purchasing.
I agree on the above fact's.
Although I temper fears of impact by reality that there is a bazillioin other job's ready to absorb as many of those people as want to work.
Not to mention, those in IT who get replaced by ai, they don't have to abandon those skills, they can evolve them for other utilization. For example CNC machining is in desperate need of people, and those IT skills can help in a robo-manufacturing world.
So a job lost in tech is not a certain path to an unemployed person. There is a TON of absorption out there.
The real issue is the country has made social welfare so cushy, arguing those "need" to enjoy a living standard at or near par with everyone else...... That we have incentivized sitting around and waiting for "perfect" vs taking actions to be employed. And as operant conditioning has well shown, reward a person to sit around, sitting around will become the direction of effort.
@James Hamling thanks for saying. At the risk of angering OP again since not about TX, AI and/or the "tech layoff" has created a "diaspora of tech workers" of sorts. Now, other industries over the country have been hiring them is my understanding. So, apple can the like can layoff as much as they want, it can help the rest of this country's industry with their modernization / mechanization / softwareization / whatever...
So, I think from that point of view we are saying the same thing.
As for your last point, I think again I would say the same thing, perhaps differently. The huge push to "increase the standard of living" has made us a victim of our own success. My father had mentioned years ago how say 50-60years ago it cost "next to nothing" to "live." Now we need smartphones usually with a data plan, broadband internet to the home, a car... It can be well over $1k/mo. All in all, "people" haven't changed over the decades, just the technology around us. That's all that the progression of "AI" is doing, for better or worse.
Thanks.
@James Hamling thanks for saying. At the risk of angering OP again since not about TX, AI and/or the "tech layoff" has created a "diaspora of tech workers" of sorts. Now, other industries over the country have been hiring them is my understanding. So, apple can the like can layoff as much as they want, it can help the rest of this country's industry with their modernization / mechanization / softwareization / whatever...
So, I think from that point of view we are saying the same thing.
As for your last point, I think again I would say the same thing, perhaps differently. The huge push to "increase the standard of living" has made us a victim of our own success. My father had mentioned years ago how say 50-60years ago it cost "next to nothing" to "live." Now we need smartphones usually with a data plan, broadband internet to the home, a car... It can be well over $1k/mo. All in all, "people" haven't changed over the decades, just the technology around us. That's all that the progression of "AI" is doing, for better or worse.
Thanks.
It can be summed up very simply, the United States is consumer society, not a producer society.
@James Hamling thanks for saying. At the risk of angering OP again since not about TX, AI and/or the "tech layoff" has created a "diaspora of tech workers" of sorts. Now, other industries over the country have been hiring them is my understanding. So, apple can the like can layoff as much as they want, it can help the rest of this country's industry with their modernization / mechanization / softwareization / whatever...
So, I think from that point of view we are saying the same thing.
As for your last point, I think again I would say the same thing, perhaps differently. The huge push to "increase the standard of living" has made us a victim of our own success. My father had mentioned years ago how say 50-60years ago it cost "next to nothing" to "live." Now we need smartphones usually with a data plan, broadband internet to the home, a car... It can be well over $1k/mo. All in all, "people" haven't changed over the decades, just the technology around us. That's all that the progression of "AI" is doing, for better or worse.
Thanks.
This is my point to how social welfare gone way too far is/will harm economy.
A person does not "need" a cell phone. It's a convenience item. A home phone, sure, but not a cell that's just not true that it's a "need".
Internet, yup lot's of important great uses for such, but it's not a "need" item. Libraries have free internet, and computers, persons can go there for that "need", it's why we provide public libraries with such.
You see, all this BS of handing out CONVENIENCE items, coining them "need" because one wouldn't WANT to go without them, is literally breeding a do-nothing society.
Not having convenience items should suck, it should hurt, it should be LESS convenient. Enough so that a person turns to ACTIONS to elevate one's life, to acquire these desired things.
NEED items are food, water, shelter. Not gaming, not leisure, not convenience.
It is mathematical as we have elevated social welfare, worker engagement declines. It's not complicated, making work optional means more and more people choose NOT to work. And DUH, because work is not fun, it sucks in whatever ways, that's why it's called "WORK" and offers $$$$ in exchange for doing it. Duh.
Remove that need for the $-motive, breed a society of human-cat's.
The notion people will simply choose to engage out of civic motives, lol, it's infantile. People are nowhere near that elevated of mind, of they were war wouldn't exist now would it. Crime would go extinct.
People have changed DRASTICLLY. They have become exceptionally weak, lazy, greedy, demanding, ENTITLED.
Our society is for most part held up by as much as 35% of the populous. That's the reality. Technology has simply facilitated this to a degree beyond any could have imagined 50 years ago.
50 years ago people worked to secure food, shelter, security. Today, far too many do it to secure video games, shoes, tech gadgets. Nobody fears food shortages in US, EVER. Life in U.S. is wildly taken for granted.
The U.S. social welfare system is not sustainable. The US bankrupt in grandest fashion imaginable. The debt service is rapidly approaching finality. At which point the USD will realize it's value position, virtually 0.
Things will change, either by intent or by default, either way change is a-coming. Most here will see this in their lifetime.
How it's expressed is a matter for great debate and prognostication, but it's happening is mathematical fact of certainty, 100% certainty.
@James Hamling thanks for saying. At the risk of angering OP again since not about TX, AI and/or the "tech layoff" has created a "diaspora of tech workers" of sorts. Now, other industries over the country have been hiring them is my understanding. So, apple can the like can layoff as much as they want, it can help the rest of this country's industry with their modernization / mechanization / softwareization / whatever...
So, I think from that point of view we are saying the same thing.
As for your last point, I think again I would say the same thing, perhaps differently. The huge push to "increase the standard of living" has made us a victim of our own success. My father had mentioned years ago how say 50-60years ago it cost "next to nothing" to "live." Now we need smartphones usually with a data plan, broadband internet to the home, a car... It can be well over $1k/mo. All in all, "people" haven't changed over the decades, just the technology around us. That's all that the progression of "AI" is doing, for better or worse.
Thanks.
Lol ….. lot of tech folks that created all of these doesn’t even have a iPhone if not just because we could access office email from there.
It is however an ecosystem , I created many technologies where I hate it at the end LoL
the era of 1970 1980 is obviously better than todays era of tech LOL
@James Hamling thanks for saying. At the risk of angering OP again since not about TX, AI and/or the "tech layoff" has created a "diaspora of tech workers" of sorts. Now, other industries over the country have been hiring them is my understanding. So, apple can the like can layoff as much as they want, it can help the rest of this country's industry with their modernization / mechanization / softwareization / whatever...
So, I think from that point of view we are saying the same thing.
As for your last point, I think again I would say the same thing, perhaps differently. The huge push to "increase the standard of living" has made us a victim of our own success. My father had mentioned years ago how say 50-60years ago it cost "next to nothing" to "live." Now we need smartphones usually with a data plan, broadband internet to the home, a car... It can be well over $1k/mo. All in all, "people" haven't changed over the decades, just the technology around us. That's all that the progression of "AI" is doing, for better or worse.
Thanks.
It can be summed up very simply, the United States is consumer society, not a producer society.
The whole world is becoming dumber because of internet and technology , GenZ just made it to be hateable lol
@James Hamling thanks for saying. At the risk of angering OP again since not about TX, AI and/or the "tech layoff" has created a "diaspora of tech workers" of sorts. Now, other industries over the country have been hiring them is my understanding. So, apple can the like can layoff as much as they want, it can help the rest of this country's industry with their modernization / mechanization / softwareization / whatever...
So, I think from that point of view we are saying the same thing.
As for your last point, I think again I would say the same thing, perhaps differently. The huge push to "increase the standard of living" has made us a victim of our own success. My father had mentioned years ago how say 50-60years ago it cost "next to nothing" to "live." Now we need smartphones usually with a data plan, broadband internet to the home, a car... It can be well over $1k/mo. All in all, "people" haven't changed over the decades, just the technology around us. That's all that the progression of "AI" is doing, for better or worse.
Thanks.
To that, I wonder what IS the purpose of technology anymore?
I remember in the 80's, when it was a big deal that pc's were coming into peoples homes, into schools, these big mysterious "things" that were something only at business's that few ever even seen and even less had ever used.
Everything was about the possibilities, how technology could "unlock" a betterment of everything.
And than the internet, we were all supposed to be living the birth of this great planetary kumbaya where we'd all hold virtual hand's, our great specie "one-ness".....
And what happened.....
Porn.... Porn, porn, hack, porn, porn, troll, porn, hack, porn, useful app, porn...... lol. WTF is wrong with us, lol. My kid's ask what I think about the whole alien thing and I say if there out there, if those are alien craft flying around, there almost certainly film crews because we would without doubt be the galactic comedy.
We seem to use tech for war really well, and porn, gambling, crime, hacking, TROLLING...... It's like every nasty primordial evil ape impulse in our savage little minds and, oh yeah, we made some things a bit more efficient along the way too, lol.
We are the most advanced idiot's in the cosmos. because any dumber, and we would have nuked ourselves into oblivion. And, still might, who knows, stay tuned for the next episode of "idiot ape's of Earth".
and don't forget all the misinformation... 20 years ago it was don't trust anything on the "internet." Now, its "I saw it online so it must be true.."
But all in all, I don't have to mail paper checks anymore... messaging, email or text, is much more timely (if only to keep getting texts while in the supermarket adding to the shopping list..)
and don't forget all the misinformation... 20 years ago it was don't trust anything on the "internet." Now, its "I saw it online so it must be true.."
But all in all, I don't have to mail paper checks anymore... messaging, email or text, is much more timely (if only to keep getting texts while in the supermarket adding to the shopping list..)
Hahaha these are truly baby boomers conversation
If you are living in TX and want to invest in TX locally, yes, go for it. If you are OOS and have chance to invest either in TX or AZ, then I suggest to AZ. I have SFH in both of these states, AZ is much better. Property tax in TX is a killer.
and don't forget all the misinformation... 20 years ago it was don't trust anything on the "internet." Now, its "I saw it online so it must be true.."
But all in all, I don't have to mail paper checks anymore... messaging, email or text, is much more timely (if only to keep getting texts while in the supermarket adding to the shopping list..)
Yeah..... as if there is any information other than MISinformation anymore.
Texas is taking the lion share of tech, Florida took the lion share of financials.
Amazon currently has about 95,000 staff in Texas. Not sure how that is distributed. Florida about 59,000, so there is some catching up to do. Of course you could have all the $120,000/year coders while we have the $20,000/year warehouse workers. While Bezos parks the yacht in South Florida I imagine, he also has a huge ranch in Texas where he is from and parks the rockets there.
Everyone a few years ago was excited about HDQ2, but I guess they thought Brooklyn was hipper because everyone talks faster and no one shows up in boots and Stetsons. Not sure where those 25,000 jobs went? Maybe distributed around to various offices already in place.
We've seen massive move in GS, Schwab, Fidelity, TD Ameritrade, Liberty Mutual, State Farm, WF, and BoA, also Fisher Investments looks like they're moving here. Lots of PE and family offices, but no idea how that compares to South Florida. We probably got all the call takers and tellers, you probably got all the analysts.
Why are you still going to the supermarket. There's an app and a drone for that.
@Alecia Loveless. I have a house in Dallas I rent. Tax eats away my cashflow as well.
What market was that 5 plex in?
Texas is taking the lion share of tech, Florida took the lion share of financials.
Amazon currently has about 95,000 staff in Texas. Not sure how that is distributed. Florida about 59,000, so there is some catching up to do. Of course you could have all the $120,000/year coders while we have the $20,000/year warehouse workers. While Bezos parks the yacht in South Florida I imagine, he also has a huge ranch in Texas where he is from and parks the rockets there.
Everyone a few years ago was excited about HDQ2, but I guess they thought Brooklyn was hipper because everyone talks faster and no one shows up in boots and Stetsons. Not sure where those 25,000 jobs went? Maybe distributed around to various offices already in place.
We've seen massive move in GS, Schwab, Fidelity, TD Ameritrade, Liberty Mutual, State Farm, WF, and BoA, also Fisher Investments looks like they're moving here. Lots of PE and family offices, but no idea how that compares to South Florida. We probably got all the call takers and tellers, you probably got all the analysts.
This is solid research and convincing !!