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We will not : X CEO Musk refuses incentives to move its HQ

30Jul

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Technology

We will not : X CEO Musk refuses incentives to move its HQ

[ad_1] X CEO Elon Musk refused the incentives offered by the San Francisco authorities to move its headquarters saying one comes to know about their real friends when "chips are down."Taking to his official handle on X, formerly known as Twitter, Musk said he was being offered some rich incentives to move its headquarters out of San Francisco. "Many have offered rich incentives for X (fka Twitter) to move its HQ out of San Francisco. Moreover, the city is in a doom spiral with one company after another left or leaving. Therefore, they expect X will move too. We will not. You only know who your real friends are when the chips are down. San Francisco, beautiful San Francisco, though others forsake you, we will always be your friend," Musk wrote on the micro-blogging site. This tweet came ...

After Twitter rebranding, Elon Musk takes @X handle from user; offers merch in return

[ad_1] Ever since its rebranding, X (formerly known as Twitter) appears to be caught in new controversies every day. After headlines reported on authorities putting a temporary halt to the removal of the Twitter logo from the company headquarters in San Francisco, now a new controversy has engulfed the Elon Musk-owned platform. A user, who held possession of the coveted @x username, has reported that it was taken from him by the company, and he was only offered some merchandise and a tour of the company along with a meeting with the management.According to a report by Telegraph, the account belonged to Gene X Hwang, a San Francisco-based photographer, who joined the social media site in 2007 and was among one of the earliest users. Ever since registering for the platform, he has kept hi...

San Francisco Sees Risk of Lost Revenue as Remote Work Prevails

[ad_1] San Francisco could lose around $200 million by 2028 in property tax revenue because of offices emptied as people work from home, . San Francisco could lose around $200 million by 2028 in property tax revenue because of offices emptied as people work from home, under the worst case scenario detailed in a report from the city's chief economist Ted Egan.The hub of the technology industry is experiencing record office vacancies. They could rise to about 31% by the fourth quarter next year in the most pessimistic case, warned Egan in the presentation for a board of supervisors's committee hearing Wednesday. Commercial property values would fall, and that would mean less revenue for the city from property taxes. In the short-term, the risk is lessened by long-term leases and the fac...