Tesla Moving HQ from CA to Austin, TX
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Elon Musk announcing Tesla will move its headquarters from California to Texas, intensifying questions about whether the home of Silicon Valley and Hollywood is still an attractive place to grow a business.
Notably, Tesla is not pulling up stakes; Musk said the company will continue to grow in California, even as it expands in Texas.
The question, I think, is whether these moves to Texas are a long-term shift in innovation’s center of gravity, or a calculation to save money on taxes in a tight labor market. We’ll know the answer when we see where companies like Tesla locate their highest-value employees.
Coming up today on CNBC’s TechCheck, 11 a.m. ET / 8 a.m. PT …
ServiceNow CEO Bill McDermott, Celonis Co-CEO Alexander Rinke
While you were sleeping …
Microsoft has acquired Ally, a 3-year-old Seattle-based startup that helps companies track and hit their goals. Terms of the deal were not disclosed. Microsoft will use the deal to beef up Microsoft Viva, its new employee experience platform that launched earlier this year. Viva aims to improve wellbeing by analyzing how employees spend their time, provide a central hub for internal company resources, integrate learning into the flow of work, and provide better access to internal corporate knowledge and expertise. GeekWire
California governor Gavin Newsom signed the Silenced No More Act on Thursday night— a historic piece of legislation, authored by state senator Connie Leyva (D-Chino), that should protect workers who speak out about harassment and discrimination even if they’ve signed a non-disclosure agreement. The Verge
In the broader world …
The U.S. economy created jobs at a much slower than expected pace in September, a pessimistic sign about the state of the economy though the total was held back substantially by a sharp drop in government employment. CNBC
On the horizon …
Monday, 10/11: Jon Fortt and Jayson Council bring you the latest Fortt Knox / March Forth conversation with the presidents of three historically Black colleges: Makola Abdullah of Virginia State University, Roslyn Artis of Benedict College, and Michael Sorrell of Paul Quinn College. They discuss the challenges of making education more affordable, modern and relevant in a changing society.
