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Submission: On December 21 via manual from US — Scanned from US
Submission: On December 21 via manual from US — Scanned from US
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MENU SEARCH STORE MENU * SEARCH * STORE * Blog : The posts * Forums : Read the rules * Store : Wonderful Products (Contact Support) * Newsletter : Daily wonderful things * About Us : Writers and staff * Contact Us : Get satisfaction * Advertise : Thank you for reading * Privacy Policy : The data you generate * TOS : What you agree to * Thumbnails : Youtube Thumbnail generator Report this ad REPORT: TECH COMPANIES LOSING INTEREST IN TEXAS Rob Beschizza 4:00 am Mon Dec 11, 2023 The Texas State Capitol building in Austin. Photo: Shutterstock It seems like just yesterday that tech companies were fleeing California's high costs and setting up shop in cheap, hip Texas cities such as Austin. But TechCrunch reports that the Lone Star State has "lost its luster" in recent months. The weather is merciless, the housing market is broken, the power grid is shaky, the supposed benefits hide hidden costs, and there is "a perceived lack of diversity." > People who moved here for affordability reasons quickly realized the city was > not as inexpensive as they expected — especially when it came to housing. > Austin's housing market went berserk in 2020 and 2021… Funding is also down. > Venture funding in the city totaled $6.75 billion in 2021 and $5.5 billion in > 2022, according to PitchBook data. In the first three quarters of 2023, > venture funding was down 46% to $2.9 billion compared to $5.3 billion raised > in the first three quarters of 2021, and down 36% compared to $4.5 billion in > 2022's first nine months. … Mike Chang, a 30-year-old founder and angel > investor, told Business Insider earlier this year that he regretted moving > from Los Angeles to Austin during the pandemic. "Austin is where ambition goes > to die," he told the publication. 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Boing Boing is published under a Creative Commons license except where otherwise noted. * * Mark Frauenfelder * David Pescovitz * Rob Beschizza * Carla Sinclair Editors * * Jason Weisberger Publisher * * Ken Snider Sysadmin * * About Us * Newsletter * Contact Us * Advertise * Forums * Shop * Shop Support Privacy Manager Report this ad Freestar.comReport This Ad MENU SEARCH STORE MENU * SEARCH * STORE * Blog : The posts * Forums : Read the rules * Store : Wonderful Products (Contact Support) * Newsletter : Daily wonderful things * About Us : Writers and staff * Contact Us : Get satisfaction * Advertise : Thank you for reading * Privacy Policy : The data you generate * TOS : What you agree to * Thumbnails : Youtube Thumbnail generator Hey You! Before you go check out these great articles...