'Shark Tank' investor Kevin O'Leary warned businesses against incorporating in New York State after a ruling handed Donald Trump a nine-figure punitive damages fine.
Gee whiz mister, was there something that happened between 2019 and 2020 that might impact statistics in a way that might not make them super accurate models for the future?
Agreed. New York is on the decline. It’s not really to do with New York itself though - Covid has hammered all big cities in the USA. Remote work made companies realize they can get the same work done without the crazy cost of paying for workspace. See the same in 3 other cities I have customers - Houston has an ongoing exodus of higher paying jobs due to unpopular Texas policies combined with remote work. I used to go there on a monthly basis. Our office there closed in December, and we’re a leading IT company. Raleigh NC is another example like that, but not quite as bad. Basically any city with a high percentage of jobs that migrated to remote work have been hit hard. What follows those jobs leaving is decline of all the restaurants and other businesses that depend on those folks living there and spending money. I have one co-worker that moved from Houston to Sault St. Marie Michigan - wayyy up north. He literally got in a bidding war for a house up there. Pre-covid that would have never happened. I have another peer that lived in Detroit proper, and is now living on the Oregon coast a stones throw from CA. Of course these are all anecdotal accounts, but the stats I’ve read all point to a system change away from urban centers prompted by remote work. I know that’s what it was for me too.
Which unpopular policies? I have seen nothing but crazy growth in my Texas customers. I don’t have any directly in New York but I have many financial customers who have moved out of New York because of all the taxation.
I travel often and Chicago is not what it used to be. I blame COVID for that. That was a cool city until COVID wrecked it.
Oregon Coast is nice. Go look at home prices and see how much they have jumped. That is the COVID effect.
In the case of Houston, The extremist abortion bans and what it is doing to women. Also in the case of Houston, the corrupt Paxton situation. Information technology folks want nothing to do with that kind of stuff, and they can basically live where they want, so those kinds of policies are driving IT folks out and that was the main thing driving Houston. It is also driving out doctors. If You look into the statistics since the road decision, doctors are already leaving red safe because of the anti-science anti-vax stuff. Now with abortion bans etc. that has further accelerated the exodus of medical professionals from these red states. Go pull up the doctor to patient ratios for Red cities. basically every red city is declining and blue cities and states are increasing.
I absolutely agree New York taxation It is a part of it. any of these big cities with increased taxes, if a business has moved to remote work and doesn’t need a physical presence there, why would they continue to do business there and pay those higher taxes. but that’s a universal thing, many many big cities have dedicated separate taxes, hell even Pontiac Michigan has separate taxes, lol.
Go pull up the doctor to patient ratios for Red cities.
There are few red cities or at least what we would consider a city. Cities tend to lean blue. Most doctors don’t want to be rural. I didn’t want to go rural after medical school.
Abortion laws are driving away OBGYN and I don’t blame them. It doesn’t appear to be driving away other doctors. If I was still practicing, I would move because of the law unless I was tied to abortion to some degree.
Most financial companies require onsite work. They rarely allow remote work due to regulations. It’s why so many have moved to Florida.
My cousin lived in Texas until last year. He’s an ENT and his youngest kiddo is a 2yo girl. Doctors are in short supply, they can move wherever they want just like IT workers. He moved for the sake of his daughter, even though she was only two at the time.
My company is offering priority relocation on any workers that are located in states that ban abortion. That contributed dramatically to the closure of the Houston office.
Red / MAGA policies are unpopular with a majority of college graduates. From everything I have seen in read, there is a brain drain going on that isn’t immediately evident or being actively reported on. It will be blatantly obvious in the coming years though.
Heck, My sister lived in Orlando and they moved back to Michigan when they couldn’t get a vaccine for their toddler because of DeSantis, and because of book banning and other crazy with the schools.
Chicago was falling apart before covid. I have a bunch of family that we visit all the time. My aunt and uncle moved to North Carolina shortly after getting robbed at gunpoint before covid. Rahmbo started turning it into a warzone by getting rid of Cabrini–Green and sprinkling low income housing into every neighborhood.
I felt pretty safe in Chicago before COVID. Well except after Jussie got attacked. That happened about a block from me when I was walking home from a night out. That was unsettling to think MAGA people would jump someone in the middle of Chicago.
Other than that, my life was very peaceful and quiet. I enjoyed Chicago immensely. I can’t even stomach going back now because of how sad it’s become.
The last few times, it didn’t feel as safe. Less cops, more thugs, and the city was a lot dirtier. Lots of the stores and places I used to go were shut down and boarded up.
Business has been declining in New York since 2019.
https://www.foxbusiness.com/economy/new-york-california-each-lost-assets-financial-firms-fled-south
These are high-paying jobs that are gone and are not coming back.
https://www.thecentersquare.com/new_york/article_c805dfd6-dde6-11ec-8d0e-4f667cd41881.html
Over 19.5 billion lost from people leaving.
Not sure why you think a boom is going to happen when everything points to the opposite.
Gee whiz mister, was there something that happened between 2019 and 2020 that might impact statistics in a way that might not make them super accurate models for the future?
Woah woah woah, hold your horses. The paragon of truth mod team has spoken. You’re a troll if you deny the facts winter laid out.
Trump’s ability to do business in New York will certainly decline
Agreed. New York is on the decline. It’s not really to do with New York itself though - Covid has hammered all big cities in the USA. Remote work made companies realize they can get the same work done without the crazy cost of paying for workspace. See the same in 3 other cities I have customers - Houston has an ongoing exodus of higher paying jobs due to unpopular Texas policies combined with remote work. I used to go there on a monthly basis. Our office there closed in December, and we’re a leading IT company. Raleigh NC is another example like that, but not quite as bad. Basically any city with a high percentage of jobs that migrated to remote work have been hit hard. What follows those jobs leaving is decline of all the restaurants and other businesses that depend on those folks living there and spending money. I have one co-worker that moved from Houston to Sault St. Marie Michigan - wayyy up north. He literally got in a bidding war for a house up there. Pre-covid that would have never happened. I have another peer that lived in Detroit proper, and is now living on the Oregon coast a stones throw from CA. Of course these are all anecdotal accounts, but the stats I’ve read all point to a system change away from urban centers prompted by remote work. I know that’s what it was for me too.
Which unpopular policies? I have seen nothing but crazy growth in my Texas customers. I don’t have any directly in New York but I have many financial customers who have moved out of New York because of all the taxation. I travel often and Chicago is not what it used to be. I blame COVID for that. That was a cool city until COVID wrecked it.
Oregon Coast is nice. Go look at home prices and see how much they have jumped. That is the COVID effect.
In the case of Houston, The extremist abortion bans and what it is doing to women. Also in the case of Houston, the corrupt Paxton situation. Information technology folks want nothing to do with that kind of stuff, and they can basically live where they want, so those kinds of policies are driving IT folks out and that was the main thing driving Houston. It is also driving out doctors. If You look into the statistics since the road decision, doctors are already leaving red safe because of the anti-science anti-vax stuff. Now with abortion bans etc. that has further accelerated the exodus of medical professionals from these red states. Go pull up the doctor to patient ratios for Red cities. basically every red city is declining and blue cities and states are increasing.
I absolutely agree New York taxation It is a part of it. any of these big cities with increased taxes, if a business has moved to remote work and doesn’t need a physical presence there, why would they continue to do business there and pay those higher taxes. but that’s a universal thing, many many big cities have dedicated separate taxes, hell even Pontiac Michigan has separate taxes, lol.
Abortion laws are driving away OBGYN and I don’t blame them. It doesn’t appear to be driving away other doctors. If I was still practicing, I would move because of the law unless I was tied to abortion to some degree.
Most financial companies require onsite work. They rarely allow remote work due to regulations. It’s why so many have moved to Florida.
My cousin lived in Texas until last year. He’s an ENT and his youngest kiddo is a 2yo girl. Doctors are in short supply, they can move wherever they want just like IT workers. He moved for the sake of his daughter, even though she was only two at the time.
My company is offering priority relocation on any workers that are located in states that ban abortion. That contributed dramatically to the closure of the Houston office.
Red / MAGA policies are unpopular with a majority of college graduates. From everything I have seen in read, there is a brain drain going on that isn’t immediately evident or being actively reported on. It will be blatantly obvious in the coming years though.
Heck, My sister lived in Orlando and they moved back to Michigan when they couldn’t get a vaccine for their toddler because of DeSantis, and because of book banning and other crazy with the schools.
Chicago was falling apart before covid. I have a bunch of family that we visit all the time. My aunt and uncle moved to North Carolina shortly after getting robbed at gunpoint before covid. Rahmbo started turning it into a warzone by getting rid of Cabrini–Green and sprinkling low income housing into every neighborhood.
I felt pretty safe in Chicago before COVID. Well except after Jussie got attacked. That happened about a block from me when I was walking home from a night out. That was unsettling to think MAGA people would jump someone in the middle of Chicago. Other than that, my life was very peaceful and quiet. I enjoyed Chicago immensely. I can’t even stomach going back now because of how sad it’s become. The last few times, it didn’t feel as safe. Less cops, more thugs, and the city was a lot dirtier. Lots of the stores and places I used to go were shut down and boarded up.