by Wolf Richter
And we coined, “Management by Zooming Around.” Which is what Oracle’s Larry Ellison is doing.
When on December 11, Oracle disclosed that it “is implementing a more flexible employee work location policy and has changed its Corporate Headquarters from Redwood City, California to Austin, Texas,” it was another step in the process that we will henceforth call “Techsodus.”
The exodus of tech companies, executives, billionaires, millionaires, and regular tech employees from California, and particularly from San Francisco and Silicon Valley, is a combo of fleeing California and a shift to work-from-anywhere. Texas, Florida, Colorado, and other states have been among the destinations. Texas and Florida don’t levy state income taxes, so sure.