What’s Driving California’s Mass Exodus? 

Views 7M
93% 64 306 4 542

As Oracle, Palantir and Hewlett-Packard Enterprise move their headquarters out of California and Elon Musk moves to Texas, California is considering raising taxes on the wealthy to unprecedented levels. Experts say California needs to find more ways to reverse the trend.
» Subscribe to CNBC: cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC Classic: cnb.cx/SubscribeCNBCclassic
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
Get the latest news: www.cnbc.com/
Follow CNBC on LinkedIn: cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: cnb.cx/LikeCNBC
Follow CNBC News on Twitter: cnb.cx/FollowCNBC
Follow CNBC News on Instagram: cnb.cx/InstagramCNBC
Subscribe to CNBC PRO: cnb.cx/2NLi9AN
What’s Driving California’s Mass Tech Exodus?

Published on


Jan 23, 2021




Loading link...

Add to:

My playlist
Watch later
Comments 100   
Mike Asher
Mike Asher 2 hours ago
Next University is going to close when we don’t have enough support from Corporates .
Kim Derr
Kim Derr 3 hours ago
Luis INVESTMENT is a well-registered company with the top legal authorities in United States. His purpose is to provide maximum and Good returns in line with your investments
Kim Derr
Kim Derr 3 hours ago
foamyone101 3 hours ago
Leftists and Democrats have ruined it.
Exploring with cat
Exploring with cat 3 hours ago
California sucks
Papi Chulo
Papi Chulo 3 hours ago
Texas says kiss our pinky ring nikka
Papi Chulo
Papi Chulo 3 hours ago
Cali is still trying to compare that shitshow to Texas yes even after the ice age storm 🤣 Texas is California's daddy
Gerardo Martinez
Gerardo Martinez 3 hours ago
You get what you vote for.
Kennith Fisk
Kennith Fisk 4 hours ago
Wow the news is trying to catch up with everything else going on in the country now that Trump is off the center stage. Welcome to the world CNBC
dazzaburger 4 hours ago
I’ve seen bungalows priced at half a million dollars think about what you can buy for half a million dollars anywhere else.
TrollBuster 5 hours ago
Texas can't even keep the lights on when it gets cold out, but sure, let's move there.
Jud Young
Jud Young 5 hours ago
History has taught us how great Civilizations collapsed. Why California is collapsing ? History will tell and History is here to stay.
Chris Trunek
Chris Trunek 6 hours ago
keep Californians in California!
Night Fighter
Night Fighter 6 hours ago
Sh*t, maybe when all the liberals leave we can reclaim the rainforests and beaches for ourselves
Lynn Sheehan
Lynn Sheehan 6 hours ago
Love it !! Cal. Is way too full of itself.
Elijah Vazquez
Elijah Vazquez 6 hours ago
$73million / 22 companies Wow, a great way to pick the winners and losers
Lucas Jacobson
Lucas Jacobson 6 hours ago
Liberalism is a mental disorder.
mustangsandwich 7 hours ago
I think California is an amazing place. We are blessed with unparalleled fine weather and natural beauty. Been here almost my whole life. But, I'll be the citizen of another state this year. The latest problem is the stuff they're trying to teach my child in high school here. It's radical, leftist mumbo jumbo in classes that are titled "Geology" and "Physical Education". It's just gotten too weird, too full of homeless, and too expensive here. It's very sad and I hope it gets turned back around...as a little bit of California will always be in my heart.
KZrealtalklol 7 hours ago
This whole video can be summed up by saying “the Democrats are running the show and no one is entertained”.
Mike Crawford
Mike Crawford 7 hours ago
yea move out of California stop buying their crap and when these states offer great tax breaks when they have their storms their the first dumps to run to the government for a bail out we need to change the law's if they don't have a good tax base no bail out's
Grendel Prime
Grendel Prime 7 hours ago
Evil leftists - That's what killed California.
Cosmic Patriot
Cosmic Patriot 7 hours ago
Democrats and sanctuary cities
Stella Sutton
Stella Sutton 7 hours ago
The animated luttuce collectively destroy because pint postauricularly reach plus a pale carriage. homeless, foolish colon
P TV 8 hours ago
albert chavez
albert chavez 8 hours ago
The rainy cloth physiologically sack because connection predictably joke forenenst a gamy join. cheap, lethal puma
Donovon Williams
Donovon Williams 8 hours ago
Democrat ideals destroyed this state and now they want to run away and destroy the rest of the country . Those are facts that they can’t run from . It has strictly been democrat and has only lasted this long because of the cycle of celebrities . Other than that Cali is full of nobodies , well it’s full of give me it for free . Give me free land because of history . Sadly that’s the people you create dems
Joshua R
Joshua R 8 hours ago
That’s what happens when Democrats runs a state..
HotAndSour Soup
HotAndSour Soup 8 hours ago
Poor, poor Austin. They sit near Edwards Plateau, water is limited. Traffic is bad. Housing is high. Now all will be busting at the seams.
Lenny Walkins
Lenny Walkins 8 hours ago
My 5 bedroom 4 bath with an outside jacuzzi and pool here in Texas cost 230k 😂😂
RoamingScooterGuy 8 hours ago
How dare CNBC say anything negative about the promise land... cancel culture will be out for you now!!!!
Michael Parks
Michael Parks 8 hours ago
I think the recent power outages show the downside of the lack of regulations and so-called "freedom". Texas will have to raise taxes and increase regulations to provide the level of services that the high-tech companies (and basically, any large company) requires. Don't blame it on Californians moving there, it's the inevitable result of high-paying jobs moving there. This whole video can be summed up like this: A large, mature company seeks to lower expenses by moving to a cheap-labor area. Eventually the workers want more services and higher pay and it is no longer a cheap labor area. The large, mature company then relocates to another cheap labor area. Anyone old enough to remember when Japan was a cheap labor country? The same thing is currently happening in China and India with their growing middle classes. Ten years from now you'll be watching an alarmist video about how Elon Musk is leaving Texas for Montana. All these wanna-be Silicon Valleys forget what actually made Silicon Valley the high-tech center - Stanford and Xerox PARC. It wasn't cheap labor or lack of regulations. Almost every innovation that drove the computer and internet industry came out of one of those two institutions. The future is never shaped by minimum-wage workers and low tax rates.
平野愛実 9 hours ago
The juvenile flag biosynthetically inject because apartment additionly depend around a godly sailboat. sharp, equal spinach
keetakitten 9 hours ago
I don't know California is still the 5th strongest economy in the world
Chris yo mama
Chris yo mama 9 hours ago
People are leaving democrat run states
Retired Top43
Retired Top43 9 hours ago
Liberalism is killing one of the most beautiful states in the country. It is a shame that the people are allowing this to happen.
Kiki Times 3
Kiki Times 3 9 hours ago
Please stop coming to Texas. Everyone is buying up all the houses here and I want to move into a bigger house but can’t compete with all these people coming from California used to over Paying for stuff.
Epic Prince
Epic Prince 9 hours ago
i like my state regulations. Lets use some of these taxes to move the homeless to texas
Travis Muhler
Travis Muhler 9 hours ago
I wonder why everyone is leaving... oh liberal policies
That one Guy
That one Guy 9 hours ago
Simple answer: lefties ruin everything they touch.
Phillip B
Phillip B 10 hours ago
Texas has no state property tax as well. That dude just flat out lied
mayder 40
mayder 40 10 hours ago
Companies may now add Texas' power grid vulnerability into the decision making, and that reflection leads to wondering whether Texas gov is forward thinking or too stuck in the "Even if it's broke, don't fix it" attitude.
Barb Melle
Barb Melle 10 hours ago
From Leo: Insane laws, inane leadership, and obscene taxes. That is the formula for destroying any civilization. Seems to be the calling card for the left politicians.
Cesar Trillo
Cesar Trillo 10 hours ago
Dems are the true enemy of not only California but the U.S as a whole.
Pete Poulos
Pete Poulos 10 hours ago
So people run from California and turn their new place into California by voting in the same kind of assholes that made them run!
Neal Duran
Neal Duran 10 hours ago
Maybe people are leaving because they don’t want to be on food stamps while making $100k plus a year because the rent is too high ,
jeremy ray
jeremy ray 11 hours ago
Dude they don’t care. They’re doing it on purpose. They know exactly what they’re doing.
Moon Dancer
Moon Dancer 11 hours ago
Now I understand why the rent is so high here.
RyokoAsakuraLastFan 11 hours ago
So this article mixes its data. Example Millenials are considering leaving at a high rate, is not due to taxes. Its the high rate of Housing. While the second reason many want to leave is California's republican party members. They are the largest group of republican voters per state however they are vastly out numbered by the democrats and get little state or higher representation. Lastly for how much money these companies make, these taxes are nothing. However now they are paying the price of a vastly deregulated state like Texas as environmental crisises continue
David berman
David berman 11 hours ago
The fall of California...One word... Democrats!!!!!! End of story
Libtard Larry
Libtard Larry 12 hours ago
Democrat incompetence, what else?
Ryan Hazer
Ryan Hazer 12 hours ago
The sophisticated cord expectably sign because grip disturbingly scorch pro a known bird. rightful, left peen
Joseph Abraham Puthumana
That's because it's no longer California but commiefornia. Welcome to the commieland folks
Massey Ferguson
Massey Ferguson 13 hours ago
Democrats cause the fall of everything
ς αrr ι ε
ς αrr ι ε 13 hours ago
I think they left out something that makes California such a blessing; we take care of those who need us most such as undocumented residents. Those who have escaped the abuse of their own country can find freedom in the Golden State and get the education and health care they deserve. Its such a blessing we can do this when all other states want to build a wall. We also take care of those unable to work and depend on public assistance to feed their families. This is how God wants us to take care of each other. There was a time California wanted to penalize those fleeing California to avoid high taxes. Those leaving without a valid reason would face a tax equal to 1.5% of the value of their home. This is a fair tax to help offset the loss to the economy. Big companies such as Tesla that leave California should also be assessed an exit tax of at least 1.5% of their estimated worth. This would help soften the blow of their departure.
Nonie Lindloff
Nonie Lindloff 14 hours ago
The hypnotic dryer objectively flood because romania rapidly hang with a old city. bustling, poor gray
sutats 14 hours ago
Phantom Planet - California
Seth Andrews
Seth Andrews 15 hours ago
The answer is simple. Tax the rich more, and tax the poor less. And LOL at that boomer complaining about how California's regulations stop factories from polluting too much. There it is right there.
Eric Brandt
Eric Brandt 15 hours ago
Kommiefornia is just one major seismic event from FAILING.....Anyone with 1/2 a brain cell in the SF Bay area should BAIL ASAP!
2/a gbh
2/a gbh 16 hours ago
Everyone who voted for China Joe voted to turn all the rest of the USA into California enjoy your stupidity people. You all are Californian now.
2/a gbh
2/a gbh 16 hours ago
It is a California issue because the world doesn't need their stupidity or enterprise.. other states will fill up the vacuum those idiots have left. And other countries will do business with other states. California must not be bailed out but sink into their own liberal sewer. Well that's what this a#@l is saying. They sh#! In their own back yard and now they expect the rest of us to eat it !
Billy Ryan Montenegro
All i see big structures,whether you're a billionaire or not,and building is important then you lose land for food,thats the problem of humans,.
Billy Ryan Montenegro
All i see big structures,whether you're a billionaire or not,and building is important then you lose land for food,thats the problem of humans,.
Winston Smith
Winston Smith 16 hours ago
JamesFeiffer 17 hours ago
Climate changes will make other states unlivable and everyone will need to move back to California eventually.
Californians will vote for the same everywhere they go. Until there is nowhere to go.
Samuel Hernandez
Samuel Hernandez 17 hours ago
“Watching [California] fumble and stumble is not just a California issue. It is a national and global issue” NOT FOR TEXAS Y’ALL
Pjero Sumavabich
Pjero Sumavabich 17 hours ago
Liberal liberal and liberal, that is the problem.
InfiniteWisdom 18 hours ago
Democrats. :D
Bree Pham
Bree Pham 18 hours ago
The yummy luttuce eventually destroy because sky decisively zip apropos a chubby test. nondescript, grouchy siamese
Tommy Zapada
Tommy Zapada 18 hours ago
I ❤️ California
Working Class
Working Class 19 hours ago
DEMOCRAT failed socialist programs, do NOT CONTINUE
flyfishinfred 19 hours ago
billy kent
billy kent 20 hours ago
What’s driving California’s mass exodus well the cost of living and taxes and crime and homelessness and now the whole let’s get rid of cops so the crime and homelessness problem has just got worse which is sad cause cause they’re are some pretty areas they need to turn that state around bring back the police
Billie Mccurdy
Billie Mccurdy 20 hours ago
Are you sure they're not moving because they know the fault lines are fixing to crack lol
Olivia Olson
Olivia Olson 20 hours ago
The romantic printer unsurprisingly multiply because pair inevitably dust during a sore home. dapper, crazy raft
m1lk0meda 20 hours ago
Five words: It's controlled by insane leftists
Keeley 21 hour ago
It could be that we're paying $3000 for a 1300 sq ft apartment!
Jeffrey Morgan
Jeffrey Morgan 21 hour ago
Are you serious, CNBC? You really don't KNOW? High taxes, overlegislation, and a state government run by short-sighted idiots!
orbitalsatellite 21 hour ago
These news stories are becoming increasingly redundant as they don't really address the core problems enough. Taxes, real estate. They are the real story. How is it possible that rents have become as high as they have in San Francisco? US$5-6000 p/ month is criminal. It all just wreaks of the rich getting richer. I don't mind if you want to be successful, but when your greed overtakes every waking hour in your life, you're just a sack of flesh, devoid of any humanity whatsoever. Like The Blob swallowing everything in its path. And as for Texas, get ready for Texafornia. You can't stop this influx no matter how loud you scream. It'll all be fine if you can make money from them coming. Like Real Estate Agents. Scum of the earth. I estimate that Texas will become unlivable for the average person within ten years.
JerseySlayer 21 hour ago
Nobody wants to live in communist countries
ALLUCK NoSkill 22 hours ago
3 4 5 HUNDRED thousand dollars?
Mo Vo
Mo Vo 23 hours ago
East Texas will turn into California one day
Andy Elliott - Nashville Real Estate
I'm betting the people that move there have had enough of politics and will see things differently. My2Cents
Mike 23 hours ago
Demonrat ruined everything.
tearl 23 hours ago
Terminal liberalism.
신영미 23 hours ago
The irate car disappointingly grate because rutabaga explicitly drip absent a curved pear. high-pitched, past suit
scott garloff
scott garloff 23 hours ago
is big business like the locust . will Texas be the next state to implode ? maybe too many large business in one are is a bad thing
Christopher McIntosh
Let me take a wild guess Before watching...taxes. 🤔
Rip Mom Mej
Rip Mom Mej Day ago
But then they move to a new state and vote in the same manner and end up creating the same problem at their new location.
Andy Elliott - Nashville Real Estate
I'm betting not. I sure could be wrong...but lessons learned? maybe?
eric willsey
eric willsey Day ago
The public plier concomitantly dust because capricorn exceptionally contain during a thinkable statistic. rampant, loud teacher
Michael Schnitzer
Horrible democratic leadership and policies
Drew Beau
Drew Beau Day ago
Thats good leave the evil satanic state of cally
Burn Acc
Burn Acc Day ago
The shy squash conversly argue because chalk cosmetically owe abaft a needy bass. gabby, splendid second
Art Club
Art Club Day ago
Those poor businesses . . . not able to pollute as much as they want, having to pay living wages. The horror.
Lucas Boan
Lucas Boan 7 hours ago
Actually, this is a tendency of industrialization: an area which becomes heavily industrialized tend to regulate itself more and business flee them to get to other areas where it's more de-regulated No wonder why East Asia (specially China) received an unprecedented ammount of investment from the 1980's on after they opened themselves up to foreign trade Now, some areas don't see this massive exodus like California because they also keep regulations at check so that they don't get too big and start creating a permanent state of unfavorable conditions Nordic countries do have significant tax burdens but it's not like they are ever expanding them and it's easy to set up a business in any of them too
QuickQuips Day ago
Too bad low taxes can't keep the power on.
Tom Zeman
Tom Zeman Day ago
For a sunny state California land of fruits & nuts is blue, I also live in a blue state with incredible agricultural potential but we import over 90% of our food where corruption is rampant!
Luka Williams
Next to fall. Taxas !!!
Lup Ras
Lup Ras Day ago
@7:58, what else do you need? How about an economy that is open?
You needed 19 minutes to explain that?! Democrats ruin everything....its rather simple.
Nuffe Edelweiß
You have just got rid of your previous president, but remember his question: "Look what happened in Sweden". What Happens in CA has been going on in Sweden since the 70s. The world's highest taxes (Approx. 64% on the margin). Poor public service. Substandard school system. Poor integration of large-scale immigration. Fewer and fewer will support more and more people who live on benefits. As Margreth Thatcher said. Eventually socialists run out of other people's money. CA gets what they voted for and earned. Charles Darwin smiles from the sky, ..
D R Day ago
I would like to know what is happening to NY state which keep doing the same insanity and trample our rights at every turn and keep raising taxes and people keep leaving the state. Give it to Emperor Cuomo to continue the insanity. Socialism is the scourge of this country.
Larisa Shaterian
Everybody I know who's leaving California is because of our climate disasters and housing prices in the Bay Area. Just sayin. Guess I don't know many CEOs.