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While I never would say Houston or Austin would be the most downturn resistant since the economies depend too much on one sector, I would say DFW absolutely is one of the most.
GDP and GDP per capita figures for this year will be interesting. This suggest states like CA and GA won't have significant GDP losses like other states. The fact that GA only lost 0.6% personal income is striking. Kemp called the bluff of Covid-19 and it looks like his state is benefiting big time. CA had lockdowns however and the economy is still doing pretty fine in this pandemic world....must be the stay at home tech jobs that is keeping the California economy from falling apart(this could change with the renewed lockdowns this Quarter).
From a fiscal standpoint, TX is also in a less stable position while CA is actually expecting a revenue surplus.
"In California, which has a progressive income tax, state revenues collected this year through October were down only modestly from that same timeline in 2019. Texas, which has no state income tax and what is considered among the least equitable tax systems in the country, has been in a more precarious position..."
"...States are still broadly hurting from the economic crisis. But California now expects a one-time windfall this fiscal year. Wisconsin said it might still be able to sock away some revenue in its rainy day fund. Maryland nudged up its projected revenues, for the second time this fall. And Minnesota now forecasts a surplus..." https://www.nytimes.com/2020/12/18/u...e-revenue.html
And what is 'tech'? Technology is deeply integrated into every other sector of the economy nowadays(from health care to automobiles to travel etc), and THAT is how the Bay Area has diversified beyond software and hardware--by using tech to disrupt other industries, heck even into the realm of media platforms, where tech was never really thought to be a part, today it dominates the medium.
Thats trying to turn this into a philosophical conversation rather than an economic one. Its like asking "whats the purpose of life".
We know exactly what constitutes technology from an economic perspective. There isnt a debate around it nor should the be.
Thats trying to turn this into a philosophical conversation rather than an economic one. Its like asking "whats the purpose of life".
We know exactly what constitutes technology from an economic perspective. There isnt a debate around it nor should the be.
True. The “tech is integrated in every industry†works for other industries too. Energy, finance, etc. And to be fair, Houston and Austin are assisted in this but are obviously still effected depending on how things are at the time. Energy is integrated in most industries too.
Thats trying to turn this into a philosophical conversation rather than an economic one. Its like asking "whats the purpose of life".
We know exactly what constitutes technology from an economic perspective. There isnt a debate around it nor should the be.
Yeah? Tesla is an automaker, Uber is a glorified taxi service, Zoom is a conference call provider, etc.
We know they are tech companies in one sense, but tech has deep fingerprints everywhere, and you can make this philosophical but I can assure you the disruption tech has caused in other industries is quite real.
Yeah? Tesla is an automaker, Uber is a glorified taxi service, Zoom is a conference call provider, etc.
We know they are tech companies in one sense, but tech has deep fingerprints everywhere, and you can make this philosophical but I can assure you the disruption tech has caused in other industries is quite real.
You could say that for healthcare, energy, agriculture, and almost every other industry.
We know what tech is from an economic standpoint. Thats all there is to it.
You could say that for healthcare, energy, agriculture, and almost every other industry.
We know what tech is from an economic standpoint. Thats all there is to it.
Haha no that's not all there is to it because innovation intervenes in every industry like no other. You can pretend it's all the same if you want but it's not-that's why the markets heavily favor tech, they are looking at future growth.
Haha no that's not all there is to it because innovation intervenes in every industry like no other. You can pretend it's all the same if you want but it's not-that's why the markets heavily favor tech, they are looking at future growth.
Yeah, it is. The string logic youre using here could be applied elsewhere.
Bottom line: we KNOW what constitutes tech companies economically. Period. This isnt a philosophical debate. Tech, like energy, is a part of every company. Just because a company needs technology and energy to function doesnt make them tech or energy companies.
Last edited by As Above So Below...; 12-21-2020 at 09:19 AM..
Furthermore, Rice University is doing a direct top down copy of the Stanford Research Park. Harvard is doing one too. If more of these start to rise, it makes you wonder what this will affect in the long run.
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