Austin, TX
Musk buys Twitter, prompting questions about a possible HQ move to Austin
Some tech trade specialists suppose it’s throughout the realm of risk that Musk would transfer Twitter’s HQ to Austin, simply as he did with Tesla.
AUSTIN, Texas — After weeks of hypothesis, Elon Musk’s bid to purchase social networking website Twitter was finalized Monday.
This $44 billion sale means Musk has emerged victorious after Twitter’s board initially accused the eccentric billionaire of manipulating the market to finish the acquisition.
With Musk on the helm of Twitter, which was launched in Austin throughout South by Southwest in 2006, some are questioning if he’ll begin a transition of the corporate’s headquarters to the capital metropolis the place he heads his different firms like Tesla, Neuralink and The Boring Firm.
Dan Ives, an analyst with Wedbush Securities, instructed our companions on the Austin-American Statesman {that a} consolidation of Musk’s properties within the Austin space would make issues extra useful for every of the businesses.
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“He’ll have an increasing number of of his operations round Tesla, and I feel down the highway there will be some portion of SpaceX operations, after which in the end Twitter,” Ives mentioned. “It is all a part of the Musk construction.”
Mark Arend, editor-in-chief of Website Choice Journal, additionally instructed the Statesman that Austin can be a major location for a brand new doable Twitter HQ given the pool of expertise rising from the world.
“The College of Texas in Austin can be a significant supply of expert labor, as different universities and faculties within the space can be. Corporations and workers relocating to Austin would probably take pleasure in a decrease price of housing, power and dwelling than many markets, together with many in California,” he mentioned.
Not everyone seems to be satisfied, although. Roger Kay, an analyst with Endpoint Applied sciences Associates, mentioned there can be no incentives for Twitter’s San Francisco workers to pack up and transfer all the way down to the Lone Star State.
“You are not going to get the staff from San Francisco to go to Texas. It is a completely completely different crowd,” Kay mentioned. “Managers like Musk and others transfer to Texas for their very own libertarian causes. They like Texas’s lesser regulation and do-what-you-want tradition.”
Gov. Greg Abbott tweeted at Musk on Monday, saying that Twitter ought to be part of his firms in Texas.
It’s unclear if Musk will make an announcement, or if he’s even signaled curiosity, concerning a Twitter HQ relocation.
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