The Stampede from Silicon Valley
By forcing knowledge workers to telecommute, the COVID-19 pandemic has laid bare many of the unnecessary tax and regulatory burdens that tech firms face simply because they are headquartered in California. State and local policymakers who want to prevent an even larger outbound stampede should take note.
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STANFORD – The news out of Silicon Valley is that some of America’s most dynamic businesses are pulling up stakes and leaving. Hewlett Packard Enterprise, the firm started by Bill Hewlett and David Packard in a Palo Alto garage in 1939, is moving its headquarters to Houston, Texas, and the software giant Oracle has already relocated its headquarters from Redwood City, California, to Austin, Texas.