Name: Silicon Valley backlash grows as vocal tech faction boycotts
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Silicon Valley backlash grows as vocal tech faction boycotts

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Photo illustration: Sarah Grillo/Axios. Smith Collection/Gado via Getty ImagesSilicon Valley may be a "state of mind," but it's also very much a real enclave in Northern California. Now, a growing faction of the tech industry is boycotting it. Why it matters: The Bay Area is facing for the first time the prospect of losing its crown as the top destination for tech workers and startups — which could have an economic impact on the region and force it to reckon with its local issues. While the pandemic’s arrival sent tech workers to toil from home just as the Bay Area’s housing crisis and mounting quality of life problems bubbled over, some are taking the opportunity to move to cities that better suit their lifestyles. Recently a small-but-vocal group of investors, workers, and entrepreneurs like and have been loudly advertising their exits from the Bay Area and other high-priced cities like New York, and encouraging others to follow suit. Between the lines: Those who never wanted to live in San Francisco (or the greater Bay Area) are finally getting the permission not to. The debate is equally (and perhaps even more) a referendum on the state of California. Yes, but: “What I take issue with is our leaders — people of means — abandoning our community when it needs us most," Twilio CEO Jeff Lawson recently . "Reaping the benefits of Silicon Valley’s talent, tech incubators, mentors, professional network and culture until they no longer need it.”The bottom line: The region’s grip on the industry will likely loosen as a myriad of other cities’ local ecosystems continue to grow into their own and provide more options for those who want to work in technology. As teleworkers flit from city to city, they're creating a huge tax mess.Why it matters: Our tax laws aren't built for telecommuting, and this new way of working could have dire implications for city and state budgets.Family-owned Weatherford Capital is putting $22.5 million into the Tampa-based tech company SOMA Global, the private investment firm told Axios exclusively.Why it matters: It'll likely be one of the Tampa Bay area's single-biggest funding deals of the year, if 2020 was any indication —&nbsp;and it involves a local investor backing a local company.The new king of SPACs has his eyes on a different title: Governor of California.Driving the news: Chamath Palihapitiya is very seriously considering a run for gov, if incumbent Gov. Gavin Newsom succumbs to a burgeoning recall effort.

Photo illustration: Sarah Grillo/Axios. Smith Collection/Gado via Getty ImagesSilicon Valley may be a "state of mind," but it's also very much a real enclave in Northern California. Now, a growing faction of the tech industry is boycotting it. Why it matters: The Bay Area is facing for the first time the prospect of losing its crown as the top destination for tech workers and startups — which could have an economic impact on the region and force it to reckon with its local issues. While the pandemic’s arrival sent tech workers to toil from home just as the Bay Area’s housing crisis and...

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Kia is a San Francisco-based technology and business reporter at Axios. She covers tech, Silicon Valley, and venture capital.

https://www.axios.com/authors/kiakokalitcheva

Kia Kokalitcheva

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Silicon Valley backlash grows as vocal tech faction boycotts

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