More venture capital funding flowed into Dallas-Fort Worth companies than any other metro area in the U.S. over the course of 2020, according to a new report that tracked where investors put their cash.
The report also contradicts the popular narrative that companies are fleeing Silicon Valley in droves for new homes in Texas – whether that be Austin, Dallas or Houston. More than 96% of startups in the Bay Area stayed put in 2020, and only 1.2% opted to move elsewhere, according to the report, which described a Bay Area exodus as “greatly exaggerated.”
Of startups that did move, the majority went to another city in California or New York. Only 12% moved to Texas.
TexAss will learn it is not the next California. There's no gold rush in TexAss like there has been in CA. TexAss' backwards thinking is what keeps it from blooming where the scientists and engineers seek the future.
Silicon Valley seeks the future. Hollywood seeks to make stars. What the hell does Austin, Dallas or Houston seek to do? Provide a living? Dating apps? Shitty network monitoring software with password of solarwinds123?
What companies do I know of that are homegrown in Texas who make products that I like? Dell is the only one that comes to mind.
The Texas migration thing is hyped. I don't see the data pointing at large inflows into TexAss. Buncha rich people moving their asses not because California is expensive, but only to take advantage of a buncha people who want to be millionaires. Those who will not get paid or offered stock at the same level at SV/SF workers. Texas doesn't have the mindset or infrastructure to support a Silicon Valley style region at this time. Conservatives/Republicants are definitely holding Texas back. Just look at the state's bullshitting at the forwards leaning infrastructure bill. It is fucking modest at best. Let's remember that Texas actively fights Tesla in multiple ways whether it is how they are selling their cars direct to consumer or the idea of "green" photovoltaic energy. 😹
Austin has some of the worst zoning laws just like SF. Traffic is shit. Artists and shit going to be driven out by rising home and rent prices. 'We don't want to be like SF' You're already on your way! I mean SF/CA liberal government is only a recent phenomenon. Conservs fucked CA up socially. You don't have minorities going to Austin thinking they are going to change it like they did when they moved to SF of the 1940-60s. Austin is way too white for anyone to think that at this point. They all moving to Dallas or Houston. It's all about imagining the future. That's the allure of SF/SV.
If anything, Dallas could turn into SV-lite where the majority of mind power, money and risk takers could end up. Maybe in 40 years or so.
Where the hell is the Stanford of Texas that fuels future thinking? U of fucking T? Don't make me laugh. Don't they still have that "racist" anthem or whatever?
HYPE it up on all cylinders. When the media hypes up something, you know it is time to start looking elsewhere. Dallas doesn't seem to get as much media attention, so that is one area worth investing in now in terms of a future Texan home and job in tech.
It is rich dude moving to a place without the local brainpower! They will keep hiring SV/SF engineers and keep your (Texan) salaries low just until they get the cost of living memo. 🤣😂
Rich dude: 'Hey guys, I'm packing up and moving to Austin! Typical reason: California taxes < gigantic wallet. Many opportunities in Austin! What it really means: Sexual harassment in SF/SV < Austin. Power of money to bully without a care from the state.'
I don't think anyone actively says they are going to work in Texas with the best and brightest minds like they do with SF/SV. It is just another opportunity that will provide food on the table.