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Oracle moving to Austin

F250

By F250
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Guest Lobo

Guest Lobo

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$185bn dollar company moves to Austin on a Friday afternoon.  Barely makes the news given all the other shit going on in Texas this month.  Wow.  Great news though for y'all in the tech space.  This is by most metrics the second largest software company in the U.S., right?  Would love to hear more about which C-level/founders are coming here, etc.  That footprint on Riverside is massive, but it won't last much longer if the exodus continues.  

More importantly, somebody break this down---did my property taxes and traffic just get worse or more alleviated?  One thing is for sure, the sponsorship opportunities for Austin FC, Moody Arena, et. al. just got more interesting.  

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Guest Lobo

Guest Lobo

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13 minutes ago, midtown said:

Dallas south is becoming more Dallas than Dallas itself. .Soon people will be referring to Dallas as Austin North

So wait, is South Austin now North South Dallas?  We're gonna need a bigger river.  

Which thoroughfare, or lack thereof in Austin parlance, will become our Sand Hill Road?  

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Guest Lobo

Guest Lobo

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1 minute ago, Somnio said:

Yep.  Phase 1 and 2 are complete with a lot of land still for future phases as well.

I'm guessing they only bring a few hundred essential employees, including leadership here. 

What a wild coincidence that a previous bond capital pool just fast-tracked that new pedestrian bridge over near their Riverside campus.  And the city is easing restrictions on development code at that Statesman tract at South Congress/Town Lake.  I'll give 'em credit, they kept their mouths shut the last few weeks while this was all coming to fruition.  Still, it's going to be curious to watch the homeless camps curiously sprout up all around the Oracle campus in the coming year or so. 

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Guest Lobo

Guest Lobo

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7 minutes ago, Somnio said:

Wow.  Tesla next?

I think the "brand" for Tesla still needs a state like California on which to hang its hat.  But yeah, their second largest factory, their primary battery facility, Musk's boring company, spaceX facility in South Texas with offices in Austin, the Musk Foundation, Musk himself, and now (though it's largely symbolic) rumors of Musk's SFO moving to Texas as well.  All of those combined are just as valuable, if not more, than the ceremonial Tesla HQ/primary model-S factory.  Or at least, the equation will be that way in a few years.  

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capnamerca

capnamerca 571

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11 minutes ago, Lobo said:

I think the "brand" for Tesla still needs a state like California on which to hang its hat.  But yeah, their second largest factory, their primary battery facility, Musk's boring company, spaceX facility in South Texas with offices in Austin, the Musk Foundation, Musk himself, and now (though it's largely symbolic) rumors of Musk's SFO moving to Texas as well.  All of those combined are just as valuable, if not more, than the ceremonial Tesla HQ/primary model-S factory.  Or at least, the equation will be that way in a few years.  

Did I miss a memo? Does Musk have a place in Austin?

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Somnio

Somnio 751

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11 minutes ago, Lobo said:

I'm guessing they only bring a few hundred essential employees, including leadership here. 

What a wild coincidence that a previous bond capital pool just fast-tracked that new pedestrian bridge over near their Riverside campus.  And the city is easing restrictions on development code at that Statesman tract at South Congress/Town Lake.  I'll give 'em credit, they kept their mouths shut the last few weeks while this was all coming to fruition.  Still, it's going to be curious to watch the homeless camps curiously sprout up all around the Oracle campus in the coming year or so. 

I'm not so sure about that.  They don't own all that land around their existing buildings for no reason.  And Austin was already considered a frontrunner for the HQ for TikTok Global.  Maybe unrelated, but....

https://www.google.com/amp/s/www.cnet.com/google-amp/news/tiktok-sale-deadline-elapses-as-negotiations-with-us-continue/

Oracle and Walmart would get a combined 20% stake in a new company called TikTok Global, which is expected to go public in the next year. Four of the five members on TikTok Global's board of directors will be American.

TikTok Global also plans to create 25,000 US jobs as part of an expansion of its global headquarters, which will remain in the US.
 
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Guest Lobo

Guest Lobo

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I dunno, I typed it all out fast, blurring the lines between just Austin and Texas overall.  I suspect he setup home in the Hill Country somewhere according to his biographer.  Somewhere with quick helicopter or racecar access to Austin, and room enough/close enough access to an airstrip.  But it's just an educated guess.  Rest is geographically accurate.  
 

There's a dozen Tribeza, Chronicle, and Texas Tribune reporters out there looking inside any Tesla they see to crack the story.  ;) 

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Somnio

Somnio 751

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7 minutes ago, capnamerca said:

Did I miss a memo? Does Musk have a place in Austin?

Doesn't say Austin, but many are making the assumption based on a few things including....

Musk also recently relocated his private foundation to Austin. Bloomberg news service reported that the Musk Foundation, which was based in California, created an entity in Austin over the summer. The two entities then merged, according to a certificate filed with the Texas Secretary of State in October that Musk signed, and the resulting entity is now based in the Austin area.

https://www.statesman.com/story/business/2020/12/08/elon-musk-confirms-he-has-moved-texas/6495684002/

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immamac

immamac 42834

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44 minutes ago, Somnio said:

I'm not so sure about that.  They don't own all that land around their existing buildings for no reason.  And Austin was already considered a frontrunner for the HQ for TikTok Global.  Maybe unrelated, but....

https://www.google.com/amp/s/www.cnet.com/google-amp/news/tiktok-sale-deadline-elapses-as-negotiations-with-us-continue/

Oracle and Walmart would get a combined 20% stake in a new company called TikTok Global, which is expected to go public in the next year. Four of the five members on TikTok Global's board of directors will be American.

TikTok Global also plans to create 25,000 US jobs as part of an expansion of its global headquarters, which will remain in the US.
 
 

Tiktok doesn't have to be sold anymore. Oracle and WMT can get fucked. 

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We’reTexas

We’reTexas 1473

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This is interesting. I don’t think it will bring many relocations. Like many tech companies, Oracle is moving away from the notion of being tied to an office. And while tech brings people to the Bay from all over the world, in my experience most people in G&A (the only function tied to HQ) are native Californians - especially in older companies like Oracle. I don’t see them particularly interested in moving to Texas.  That said, fuck being tethered to Redwood City. 

Edited by We’reTexas
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Horn Under a Bad Sign

Horn Under a Bad Sign 20390

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4 hours ago, Hate said:

As long as the only thing they change is to make weed legal then it's ok.

 

That may happen with the legislature meeting this year anyway. Seriously. I read that they're looking at everything to make up for the budget shortfall, especially sin taxes like legalized gambling and weed.

 

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washparkhorn

washparkhorn 9939

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5 hours ago, David Dennison said:

It's happening.

It's a done deal. Californication is coming to Texas (it's been there for a long time), but now you get real Californians! Wow. Great. 

No worries.They are friendly folk. Laid back. Fun.

They come loaded with cash after cashing out their cramped properties, so hipsters beware - they want to drink your milkshake and be like you. 

Give them - all genders - Longhorn hats immediately as part of your welcoming - and make them wear it around you. It will help them bond with you.

They are good folk. They bring nice amenities wherever they migrate, which is nothing to sneeze at. 

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Hate

Hate 20106

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Posted
It's a done deal. Californication is coming to Texas (it's been there for a long time), but now you get real Californians! Wow. Great. 
No worries.They are friendly folk. Laid back. Fun.
They come loaded with cash after cashing out their cramped properties, so hipsters beware - they want to drink your milkshake and be like you. 
Give them - all genders - Longhorn hats immediately as part of your welcoming - and make them wear it around you. It will help them bond with you.
They are good folk. They bring nice amenities wherever they migrate, which is nothing to sneeze at. 

There is a reason they are leaving California. They fucked it up. They will try to do the same thing here.
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washparkhorn

washparkhorn 9939

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2 hours ago, Hate said:

There is a reason they are leaving California

Covid and stay at home work has lessened the perceived need for a headquarters in expensive and desirable California locations. Work at home employees are scattering to locales with open space. Austin/Denver is dirt cheap compared to some California locations. 

The I-35 corridor from Austin to DFW presents a lot of opportunities, similar to the I-25 corridor in Colorado (Colorado Springs, Denver, Boulder, Fort Collins).

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DonkeyCigars

DonkeyCigars 144

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HPE from California to Houston last week. Oracle and Elon to Austin this week. Silicon Valley is gonna look like Detroit soon, as distributed working is the new normal and people realize you don’t have to live in a specific geography and pay Caesar so much to live among feces and $6000 mortgages.

But it’s not just California who are hurting corporations with unfavorable tax policies as Florida is the other beneficiary and last week there were rumors of Goldman Sachs moving from NY to Florida, which would kind of be insane. I mean what is NYC without high finance? Fashion only?

 

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DonkeyCigars

DonkeyCigars 144

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23 minutes ago, BradInATX said:

The good news is all of the Oracle software folks will love Austin's transportation system, since they're used to slow, bloated and painful to use.

Or they can just afford to buy a cool car and drive it instead of having to rely on public transit and/or try to make bicycle culture catch on and seem cool.

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Guest Lobo

Guest Lobo

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Milken family office now relocating to Austin from California as well.  The hits keep on coming.  I mean, not on the par of Oracle, just seemed like a thread in which to deposit news of more California capital and traffic hitting our "shores"  

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Armybrat

Armybrat 40818

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3 hours ago, BradInATX said:

The good news is all of the Oracle software folks will love Austin's transportation system, since they're used to slow, bloated and painful to use.

Good thing Larry Ellison downsized yachts a few years ago from the 452’ “Sunrise” to the 288’ “Musashi”. Maybe he can squeeze it in on Lake Austin...

 

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