TapTechNews August 26th news, according to the New York Times' local time Saturday report, Elon Musk's X (Twitter) and San Francisco's long-term cooperative relationship is about to end, but city officials aren't sad about it.
Elon Musk will close X's headquarters in San Francisco in the coming weeks and will send the last batch of local employees to areas such as Palo Alto and San Jose, and the new headquarters of X is located in Texas.
More than a decade ago, San Francisco once extended an olive branch in the form of tax breaks to Twitter (at that time) to help establish a rising tech center in a depressed neighborhood known as Mid-Market. But after going through the COVID-19 pandemic and Elon Musk's acquisition of Twitter, layoffs and other turmoil, the current X company headquarters has become a ghost town.
San Francisco prosecutor David Chiu said, I share the same view as most San Franciscans, and we all think the disappearance of Twitter is a good thing. And in 2012, David Chiu, as a member of the city's Board of Supervisors, supported the tax break policy to attract Twitter to settle in Mid-Market.
Twitter once existed as a symbol of San Francisco's entrepreneurial capital, but when Elon Musk publicly criticized San Francisco's inflexible tax policy and free environment, the San Francisco government responded calmly, indicating that officials have been less willing to cater to those companies considering moving out.
San Francisco's chief economist Ted Egan said that the size of X has shrunk a lot, and its departure has little impact on the city's finances.
According to TapTechNews' previous report, on August 5 this year, X (Twitter) CEO Linda Yaccarino sent an internal letter stating that the company will close its flagship office headquarters in San Francisco in the next few weeks, and the relevant employees will move to the existing office in San Jose.
Elon Musk announced on the X platform in July this year that he will move the headquarters of X and SpaceX under his banner from California to Texas, and one important reason is a new California law that prohibits schools from making transgender notification requirements.
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It is reported that Elon Musk's X will close the San Francisco office and arrange employees to move to San Jose