IT’LL BE IN AUSTIN, TEXAS, QUITE
AN ANNOUNCEMENT FROM ORACLE
STEVE FORBES JOINS US THE FORBES
MEDIA CHAIRMAN, SO, I GUESS
LARRY ELLISON IS LEAVING REDWOOD
CITY, CALIFORNIA WHICH
THEY ARE STILL GOING TO HAVE A
LOCATION THERE LIKE A HUB BUT
THEY WILL MAKE THEIR CORPORATE
HEADQUARTERS OFFICIALLY AUSTIN,
TEXAS, FOLLOWING IN THE
FOOTSTEPS OF A NUMBER OF
OTHER PEOPLE I GUESS INCLUDING
ELON MUSK.
WHAT DO YOU MAKE OF THIS MOVE
WHICH WAS BY THE WAY BURIED IN A
FILING THAT WE JUST DISCOVERED.
>> WELL IT’S A GOOD THING TO
FIND THAT FILING BUT IT
UNDERSCORES, CONNELL, WHAT’S
HAPPENED TO CALIFORNIA.
THEY’VE DONE EVERYTHING POSSIBLE
TO DRIVE BUSINESSES OUT OF THE
STATE, SMALL BUSINESSES ALL
MOST OF THEM WISH THEY COULD
HAVE A BETTER ENVIRONMENT OR
MOVE OUT OF THE STATE.
YOU SAW WHAT TOYOTA WHICH HOW
CALIFORNIA WOULD HAVE BEEN A
NATURAL HEADQUARTERS AND WAS FOR
DECADES A COUPLE OF YEARS
AGO THEY MOVED TO TEXAS.
YOU MENTIONED ELON MUSK AND NOW
ORACLE IS MOVING AS WELL.
THE SIGNS ARE VERY CLEAR.
CALIFORNIA IS DRIVING BUSINESSES
AWAY, THEY ARE STILL HEAVILY-
DEPENDENT ON THE VALLEY
BUT THEY CONTINUE THIS ADVERSE
ATMOSPHERE CREATING HIGH HOUSING
PRICES, DESTROYING THEIR WATER
RESOURCES, BAD FIRE MANAGEMENT
AND THE LIKE, AND BY GOLLY,
CALIFORNIA SHOULD BE EUTOPIA IS
BECOMING AN ECONOMIC WASTE LAND,
TALK ABOUT PARADISE LOSS THAT’S
CALIFORNIA AND NEW YORK HAD
BETTER TAKE NOTICE THEY ARE
ALREADY MAKING NOISE ABOUT
RAISING TAXES EVEN IF THEY GET A
FEDERAL BAIL OUT.
WHEN WILL THEY WAKE UP, CREATE A
BAD ATMOSPHERE, PEOPLE ARE GOING
TO GO, HELLO.
CONNELL: WE’VE HAD THIS
CONVERSATION FOR YEARS AND
YOU’RE RIGHT TO BRING UP NEW
YORK BECAUSE WE TALK ABOUT IT
WITH BOTH OF THOSE STATES,
TECHNOLOGY IN CALIFORNIA,
FINANCIAL SERVICES I GUESS IS
YOUR BEST EXAMPLE IN NEW YORK
THE WALL STREET FIRMS AS WELL,
THEY WILL NEVER LEAVE, PEOPLE
NEED TO BE HERE, THEY NEED TO BE
NEAR EACH OTHER MAYBE WE’VE
LEARNED FROM THE PANDEMIC THAT
THAT’S NOT NECESSARILY ALWAYS
THE CASE, BUT WHEN IT COMES TO
TECHNOLOGY EVEN IF YOU ARGUE
YEAH, WE WANT TO BE CLOSE TO
EACH OTHER AND COLLABORATE
AUSTIN TEXAS CAN MAKE A PRETTY
GOOD CASE FOR ITSELF ITS BEEN
DOING THAT FOR YEARS AND YEARS
THAT IT’S A HUB IN ITS OWN RIGHT
FOR TECHNOLOGY COMPANIES MAY
TURN INTO A BIGGER ONE NOW.
>> THAT’S RIGHT, AND WHAT MADE
SILICON VALLEY UNIQUE COMBINING
ENTREPRENEURS AND THE ACADEMIC
AREA OF GREAT SCHOLARS AND THE
LIKE, PHD’S THEY CAN
RECREATE THAT AND IN AUSTIN
TEXAS THAT HAS BEEN GROWING
OTHER REGIONS OF THE COUNTRY ARE
GROWING AS WELL.
THERE’S NO MONOPOLY ON BRAINS
AND OPPORTUNITY AND IF YOU
CREATE BAD OPPORTUNITY
ENVIRONMENT, GUESS WHAT?
THEY WILL RELOCATE.
YOU SAW WITH THE AUTO INDUSTRY,
DECADES AGO, WHEN ALL THESE
FOREIGN MANUFACTURES CAME TO THE
U.S. , NORMALLY WOULD HAVE GONE
TO THE MIDWEST BUT THE
COMBINATION OF BAD TAXES,
UNION RULES AND THE LIKE THEY
ALL WENT SOUTH.
HUNDREDS OF THOUSANDS OF JOBS
ARE NOW IN THE SOUTH IN THE AUTO
INDUSTRY, DETROIT AND OTHERS
BLEW THEM AWAY YEARS AGO.
CONNELL: THE OTHER THING ORACLE
BY THE WAY SAID IN THIS FILING
IS A LOT MORE REMOTE WORKING
THEY WILL MAKE IT MUCH MORE,
MUCH EASIER FOR PEOPLE TO BE
FLEXIBLE AND THAT’S WHAT WE’VE
TALKED ABOUT AND A LOT OF BIG
COMPANIES I THINK GOING IN THAT
DIRECTION AS WELL, THAT SOME OF
THE STUFF REALLY IS PERMANENT
ESPECIALLY IN TECHNOLOGY, RIGHT?
HOW IMPORTANT IS IT FOR YOU TO
SEE PEOPLE AS YOU WORK IN AN
INDUSTRY LIKE THAT, WHAT’S
YOUR VIEW?
>> WELL YOU HAVE BOTH.
YOU GET BRAINSTORMING, YOU CAN
DO IT ONLINE, BUT ALSO YOU HAVE
TO INTERACT WITH PEOPLE AND ONCE
WE GET THESE VACCINES TO COMBAT
THE VIRUS I THINK YOU’RE GOING
TO SEE MORE HUMAN INTERACTION
AGAIN BUT PEOPLE WANT A BENIGN
ENVIRONMENT WHERE THERE ARE
ACTIVITIES THEY CAN FOCUS ON THE
ACTIVITIES AT HAND INSTEAD
OF WORRYING ABOUT GETTING
CRUSHED BY REGULATIONS, TAXES
AND A HOSTILE GOVERNMENT THAT’S
WHAT CALIFORNIA DID THAT’S WHAT
NEW YORK IS DOING AND WHY NASDAC
IS STILL MAKING NOISE AND MOVING
TO TEXAS YOU GO WHERE THE
OPPORTUNITIES ARE.
CAPITAL WHICH IS PEOPLE AND
MONEY GO WHERE IT’S WELCOME AND
STAYS WHERE IT’S WELL-TREATED.
NEW YORK AND CALIFORNIA, NEW
JERSEY, ILLINOIS AND OTHERS
HAVEN’T LEARNED THAT LESSON YET,
AND THEY’RE HURTING AND THAT’S
NOT GOOD FOR THE COUNTRY AS WELL
CONNELL: THERE’S A BIG MAYOR’S
RACE COMING UP IN NEW YORK CITY
AND IT WILL BE INTERESTING.
FOR ONE THING THE REPORTS SAY
THE LAST FEW DAYS THAT ANDREW YA
NG MIGHT GET IN IT THE
FORMER PRESIDENTIAL
CANDIDATE, AND A NUMBER OF OTHER
NAMES OUT THERE AS WELL AND IT
COMES FOR ONE THING AS I
MENTIONED BEFORE THE LAST BREAK
THE HOMELESS CRISIS IN THE CITY
IS GETTING WORSE ACTUALLY JUST
HIT A RECORD LEVEL, SO ALL OF
THESE ISSUES ABOUT THE CITY, YOU
HAVE SOME RUN OF THE MILL
POLITICIANS THAT HAVE BEEN
AROUND FOREVER AND EVER THAT ARE
RUNNING FOR MAYOR TRYING TO
SUCCEED BILL DEBLASIO, BUT THEN
YOU HAVE NEW NAMES LIKE ANDREW Y
ANG OR THIS RAY MCGUIRE
FROM CITIGROUP
WHAT ARE YOU LOOKING AT IN TERMS
OF THE MAYOR’S RACE AND HOW
IMPORTANT IT IS IN NEW YORK.
>> WELL IT’S CRITICALLY
IMPORTANT BECAUSE OF WHAT THEY
DO IN THE NEXT FOUR YEAR, EIGHT
YEARS IS GOING TO DETERMINE
WHETHER NEW YORK REMAINS A
PREMIER CITY, BY RECREATING A
GOOD ENVIRONMENT AS RUDY
GIULIANI DID BACK IN THE 1990S.
NEW YORK WAS ON ITS BACK IN THE
70S AND 80S NEARLY WENT
BANKRUPT, HAD TO HAVE THEIR
FINANCES CONTROLLED BY AN
OUTSIDE BOARD.
THAT MAY HAPPEN AGAIN, AND SO
YES, THIS RACE IS CRITICAL.
ANDREW YANG, I DIDN’T AGREE WITH
HIM ON HIS INCOME PROPOSAL BUT
IF HE’S GOT GOOD IDEAS PEOPLE
ARE WILLING TO LISTEN AND YOU’LL
SEE IT IN CALIFORNIA, YOU START
TO SEE THAT IN THE LAST
ELECTIONS IN TERMS OF REFERENDUM
S AND CONGRESSIONAL
RACES PEOPLE ARE IN A MOOD AND
THEY WANT NEW PEOPLE WHO CAN DO
POSITIVE THINGS SO NEW YORKERS
ARE RIGHT FOR AN OUTSIDER WHO
CAN MAKE CHANGES TO GET THE CITY
BACK ON ITS FEET AGAIN.
CONNELL: I’M SURE THAT UNIVERSAL
BASIC INCOME WOULD AT LEAST COME
UP IN THE CAMPAIGN, BUT WE’LL
SEE.
INTERESTING IF HE GETS IN BE A
DIFFERENT VOICE.
HE DOES HAVE A BACKGROUND IN
BUSINESS AS WELL.
>> THAT BE A GOOD THING TOO.
CONNELL: IT IS TOUGH FOR THEM
AND NOW NO MORE INDOOR DINING.
THEY ARE CLOSING IT DOWN AGAIN.