Oracle’s Larry Ellison Says He Has Moved to Hawaii, Fleeing California

[Nature Boy 2.0 8,376]

Wonder why the MDL big tech $$  are jumping like rats on a sinking ship

 

 

https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/oracle-larry-ellison-says-moved-205441890.html

[Cyberfx1024 7,980]

Just now, Nature Boy 2.0 said:

Wonder why the MDL big tech $$  are jumping like rats on a sinking ship

 

 

https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/oracle-larry-ellison-says-moved-205441890.html

It looks like a fair number of celebrities and the higher earning silicon valley types are leaving a sinking ship. I also hear that CA will have a deficit of almost $30 billion this year alone. So next year will look even worse for the state if I am a betting man

[laylalex 7,293]

LOL -- I have lived here almost my entire life and it has been the same story for all of it! If all the predictions were true that I heard as a teenager, you'd think we'd have no one left in the state. For whatever reason, the "California is going to die" story is a hardy perennial. Here's an article from 2011 saying the state's been dying since 1974!   https://www.city-journal.org/html/cali-business-get-out-13419.html

 

Thank you all for the concern.  

Edited December 15, 2020 by laylalex

[Steeleballz 7,550]

 

17 minutes ago, Nature Boy 2.0 said:

Wonder why the MDL big tech $$  are jumping like rats on a sinking ship

 

 

https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/oracle-larry-ellison-says-moved-205441890.html

 

    Well he's moving to Hawaii, so he's not doing it to avoid high taxes and significant overhead cost. My guess is a 76 year old man moving to a tropical island (that he owns 98% of) is not a bad deal. Might have been a plan all along.

 

   Seriously though, If California is so bad for all these guys, why do they all stay so long, and how do they get out with way more than they got in with? I call bachelor of science on that one.

[moxy 1,051]

13 minutes ago, Cyberfx1024 said:

It looks like a fair number of celebrities and the higher earning silicon valley types are leaving a sinking ship. I also hear that CA will have a deficit of almost $30 billion this year alone. So next year will look even worse for the state if I am a betting man

A $30B deficit sounds like a lot until you understand that California has almost a $3T GDP. Per year. That's a deficit of 0.1% of annual GDP. Curse you for making me defend CA's fiscal policy, because there are definitely big problems. But the US federal deficit is magnitudes more worrying than California's.

[Nature Boy 2.0 8,376]

12 minutes ago, Steeleballz said:

 

 

    Well he's moving to Hawaii, so he's not doing it to avoid high taxes and significant overhead cost. My guess is a 76 year old man moving to a tropical island (that he owns 98% of) is not a bad deal. Might have been a plan all along.

 

   Seriously though, If California is so bad for all these guys, why do they all stay so long, and how do they get out with way more than they got in with? I call bachelor of science on that one.

You missed the part he moved oracle hq to texas 

[Steeleballz 7,550]

1 minute ago, Nature Boy 2.0 said:

You missed the part he moved oracle hq to texas 

 

   No, but you might have missed the part where he founded a company in California and became one of the wealthiest men in the world.

[moxy 1,051]

13 minutes ago, Steeleballz said:

 

   No, but you might have missed the part where he founded a company in California and became one of the wealthiest men in the world.

And he's already made it a thousand times over. He doesn't need California, and as one of the richest people in the world, the high cost of living there is of no concern to him. He's moving for quality of life, not financial reasons.

 

I worked for a couple startups in silicon valley. Despite the high cost of living, it's still where you want to be if you're forming a tech startup, or even want to be on the ground floor of a startup. You'd think that code is code and you could do that in the middle of Wyoming if you wanted to, but you're at a severe disadvantage if you're not in the Mountain View/Palo Alto/Silicon Valley/Cupertino area. You don't have the network of people who can make intros, you don't have access to the pool of tech and business people, and you don't have access to events both scheduled and impromptu that could boost your project from obscure to the thing everyone's talking about. It would be like wanting to break into show biz in Orlando to avoid the high cost of living in LA. It's possible, it's maybe even been done, but your odds are much lower in an industry where the odds of breaking out are already against you.

Edited December 15, 2020 by moxy

[Burnt Reynolds 5,058]

1 hour ago, Cyberfx1024 said:

It looks like a fair number of celebrities and the higher earning silicon valley types are leaving a sinking ship. I also hear that CA will have a deficit of almost $30 billion this year alone. So next year will look even worse for the state if I am a betting man

Every state that's been a target for the millions of fleeing ex-Californians needs to codify "don't forget why you left". Their economy is sinking because the only ones replacing those leaving are illegals. At this rate the only people left will be the rich and their butlers/servants. 

[Boiler 45,665]

And New York

 

https://www.dailymail.co.uk/news/article-9053281/New-Yorkers-fleeing-Florida-amid-pandemic-turned-Palm-Beach-Hamptons-South.html

[Crtcl Rice Theory 2,432]

2 hours ago, Nature Boy 2.0 said:

You missed the part he moved oracle hq to texas 

Mahalo out I think was his message.. 

 

1 hour ago, Boiler said:

And New York

 

https://www.dailymail.co.uk/news/article-9053281/New-Yorkers-fleeing-Florida-amid-pandemic-turned-Palm-Beach-Hamptons-South.html

If I want to flee the pandemic, FL is the last place.

[Crtcl Rice Theory 2,432]

2 hours ago, Steeleballz said:

 

   No, but you might have missed the part where he founded a company in California and became one of the wealthiest men in the world.

Are you sure he didn't make all if that money in South Dakota?

[TBoneTX 45,524]

2 hours ago, Burnt Reynolds said:

codify "don't forget why you left".

And "leave your politics behind."

[Cyberfx1024 7,980]

8 hours ago, moxy said:

A $30B deficit sounds like a lot until you understand that California has almost a $3T GDP. Per year. That's a deficit of 0.1% of annual GDP. Curse you for making me defend CA's fiscal policy, because there are definitely big problems. But the US federal deficit is magnitudes more worrying than California's.

It is quite a sum once you look at the whole picture including the pension debt that is overhanging on the state and local governments. There are significant issues in regards to their fiscal sustainability and I would bet my paycheck that they get a bailout in the next term. 

 

[Cyberfx1024 7,980]

5 hours ago, CanAm1980 said:

Mahalo out I think was his message.. 

 

If I want to flee the pandemic, FL is the last place.

Many people are leaving the NYC area because of the lockdowns and are moving anywhere they can. So we have seen even more people flee there and settle around the Containment Area for Relocated Yankees