In December 2020, Oracle moved its headquarters from Redwood City to Austin, and the next year, Tesla followed suit, relocating from Palo Alto. National news outlets pointed to a trend. 'Silicon Valley's tech monopoly is over,' the Los Angeles Times opined in 2022. 'Is the future in Austin, Texas?'
Last Monday, Tesla sent an updated letter to the Texas government confirming its plans to lay off almost 2,700 employees at its Austin factory in June. Then, on Tuesday, Oracle chairman Larry Ellison announced his company would move from Austin to Nashville, Tennessee, citing the city's strong health care industry.
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