Tesla Inc. Chief Government Elon Musk mentioned he has moved to Texas, taking intention at Silicon Valley and turning into one of many highest-profile executives but to go away California in the course of the coronavirus pandemic.
He mentioned the transfer made sense with Tesla’s new manufacturing facility below approach in Texas, as he lamented that California had turn into complacent with its innovators.
Mr. Musk likened California to a sports activities staff with a protracted successful streak, saying, “They do are likely to get somewhat complacent, somewhat entitled, after which they don’t win the championship anymore.” California, he mentioned, “has been successful for a very long time. And I feel they’re taking them with no consideration somewhat bit.”
Mr. Musk made the feedback Tuesday throughout The Wall Road Journal’s CEO Council annual summit in an interview with Editor in Chief Matt Murray.
Startup executives and staff have fled the San Francisco Bay Space for cheaper locales because the pandemic has led to distant working circumstances. Final week, Hewlett Packard Enterprise , whose origins hint again to the founding of Silicon Valley, mentioned it deliberate to shift its headquarters to Texas. The exodus has led many tech leaders and business watchers to query whether or not the geographic area is dropping relevance because the nation’s main tech hub.