Moving

‘The Metropolis Is In A Doom Spiral’ Says Elon Musk However Will not Transfer Twitter Out Of San Francisco

“The city is in a downward spiral,” says Elon Musk, but does not want to move Twitter from San Francisco

In a series of tweets last year, Elon Musk commented on the state of San Francisco, where his social media company X, formerly known as Twitter, is based. He began by saying, “Many have offered X (formerly Twitter) generous incentives to move its headquarters out of San Francisco.”

He also said that many expect his company to move out of the city, but even though San Francisco is “in a vicious spiral of one company after another moving out,” X will not be moving its headquarters.

He added: “You only know who your true friends are when the going gets tough. San Francisco, beautiful San Francisco, even if others leave you, we will always be your friend.”

Do not miss:

The next day, Musk stressed that the city would not survive unless more people came to work in San Francisco. This seems to have struck a chord with many people, with numerous commentators adding that the city was “a lost cause; it's run by prisoners,” “nobody wants to live there,” and “nobody can afford San Francisco.”

A month later, Salesforce (NYSE:CRM) co-founder and CEO Marc Benioff tweeted that his company was staying put and that a third of all AI companies are headquartered there. Musk responded: “That's great! It's very important that people come to the office or the stores, restaurants, etc. cannot stay in business.”

Tendency: Executives and founders of Uber, Facebook and Apple are bullish on this wellness app you can invest in at $1.15 per share.

San Francisco has been on tough times lately, prompting Elon Musk to tweet again. The COVID-19 pandemic has hit San Francisco hard, resulting in the closure of many businesses and fewer tourists.

In addition, many companies now allow their employees to work from home, meaning fewer people commute into the city for work. This hurts local businesses that rely on these day laborers and visitors. Musk is also a vocal opponent of the work-from-home movement, even calling it “morally wrong.”

The city has become expensive in the last five to ten years. Rents and housing prices have skyrocketed and the cost of living has increased significantly.

Another major problem is homelessness. More and more people are living on the streets and the city is struggling to provide adequate assistance. Makeshift shelters and tents are commonplace, raising concerns about safety and cleanliness.

The story goes on

Finally, crime is also a problem. With theft and violent crime on the rise, people and businesses are concerned about their safety and many are considering moving to safer areas. Everyday items in shops are now locked behind glass doors, making the crime problem even more visible to locals and visitors.

A series of so-called flash burglaries has led many people to leave their cars unlocked to prevent their windows from being smashed.

Because of these combined problems, it feels like San Francisco is in a downward spiral.

Continue reading:

“THE SECRET WEAPON OF ACTIVE INVESTORS” Up your stock game with the #1 trading tool for “news and everything else”: Benzinga Pro – Click here to start your 14-day trial now!

Want to get the latest stock analysis from Benzinga?

This article “The city is in a downward spiral,” says Elon Musk, but doesn't want to move Twitter out of San Francisco, originally appeared on Benzinga.com

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button