San Francisco Officials Unfazed by Elon Musk's Move to Texas: 'Good Riddance'

San Francisco's Reaction

San Francisco officials are showing little concern over Elon Musk's decision to relocate X, the social media company, from California to Texas. City Attorney David Chiu expressed a sentiment shared by many San Franciscans, saying, "good riddance," according to a report by The New York Times.

Reasons Behind the Move

Elon Musk's announcement in July to move X's headquarters from San Francisco to Austin was partly influenced by a California law aimed at protecting LGBTQ+ students from "forced outings" in schools. This move followed controversies surrounding Musk's promotion of anti-trans content on his platform, a stance criticized by his transgender daughter, Vivian Jenna Wilson.

Discontent with San Francisco

In addition to the LGBTQ+ law, Musk also cited dissatisfaction with San Francisco's "gross receipt tax" as a factor driving the relocation. Musk emphasized that even if San Francisco's crime issues were resolved, X could not thrive in the city due to operational challenges.

Company's Future Plans

While the exact timeline for X's relocation remains unclear, CEO Linda Yaccarino informed employees that the company would establish offices in San Jose and Palo Alto, other California cities. The decision was framed as crucial for the company's long-term growth.

Local Response

San Francisco Mayor London Breed expressed acceptance of Musk's decision, stating that she had not actively pursued offers to retain X in the city. Breed hinted at Musk's evolving conservative political stance as a potential factor contributing to his departure.

Impact on San Francisco

San Francisco's chief economist, Ted Egan, indicated that X's diminishing presence has already minimized its economic impact on the city. Egan suggested that the company's departure would not significantly affect the local economy.

Requests for comments from Musk's representatives to Business Insider remained unanswered at the time of reporting.

Read the original article on Business Insider

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By: ledmonds@businessinsider.com (Lauren Edmonds)
Title: San Francisco Officials Unfazed by Elon Musk’s Move to Texas: ‘Good Riddance’
Sourced From: www.businessinsider.com/san-francisco-opinion-elon-musk-x-relocation-texas-california-2024-8
Published Date: Sat, 24 Aug 2024 21:26:06 +0000