California’s Business Exodus Grows, by Thomas Gallatin

Oracle joined a growing list of big companies pulling up stakes to flee California for greener business pastures. Oracle’s Friday announcement means it’s following in the footsteps of fellow Silicon Valley tech giant Hewlett Packard, which just weeks ago announced its coming move to Austin, Texas.

But this exodus of businesses out of California is not a recent phenomenon that can be blamed on COVID and Democrat Governor Gavin Newsom’s draconian lockdowns, although they have certainly contributed. Instead, this problem has been years in the making, thanks to California’s high taxes and over-regulation. It is estimated that over the last decade some 17,000 businesses have left the state. The list includes Tesla CEO Elon Musk, who is also moving his company to Austin, where he plans to set up a new auto plant by next year. The Daily Wire pulled up stakes from LA and moved to Nashville. Popular podcaster Joe Rogan left California for — where else? — Austin. Even Tinseltown is bleeding businesses, with tax-friendly Georgia fast becoming the Hollywood of the South.  …