Elon Musk is leaving Silicon Valley for Texas. Millionaires and companies are joining him

Silicon Valley has been the center of the tech industry for decades, starting in 1938 when Bill Hewlett and David Packard started tinkering in a Palo Alto garage.

But that may be changing. Perhaps the most striking evidence of that: Hewlett Packard Enterprise, a descendant of the company they founded, will move its headquarters to Texas. Oracle also announced plans to relocate its headquarters to Austin.

A string of high profile tech investors and executives are leaving San Francisco, too: Elon Musk said he has moved to Texas after selling his California homes.

Such moves are expected during the pandemic, when people are working from home anyway. Several tech firms have said they’ll give employees the option to permanently work from home even after the pandemic ends.

But the relocation of headquarters and founders points to a diaspora in the tech industry — and what some have called a “tech exodus” from Silicon Valley.

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