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Austin’s growth over the past two years has seen the fifth-largest flood of technology workers and software engineers earn an average of more than $ 128,000. The city has won major titles, such as Tesla and Oracle, and other expansions.
But in recent years, it has become increasingly difficult to ignore the fact that even the giants are feeling the pinch. Meta is downsizing hiring plans and Tesla has talked about cuts. Beginner founders are being told to plan for something worse and venture capitalists are becoming more vulnerable.
Could all of the city’s rapid growth as a technology hub lead to economic collapse?
Austin Technology Council Board Chairman Scott Francis has been in Austin since the 90’s, so he saw a decline again in 2001 and 2008, saying Austin was slightly hurt. But he thinks the amount of investment in Austin is huge now, making it less of a threat than it was 10 and 20 years ago.
The Chamber of Commerce endorsed the idea that domestic economic diversity would make the damage less devastating here. And at least for some of the tech giants in Austin, work safety is not a big concern.
“When a company is headquartered in Austin, like Tesla, the challenges of hiring and staffing may be less than the negative impact of relocating their headquarters,” Francis said.
(Scott Francis)
Francis noted that there may still be some problems in the economy. He said technological companies should be monitored to address customer concerns. For example, there may be companies that are not in the crypt but that use companies in the crypt, and there may be a risk in the event of a crypto crash.
Christine CS, Freeland, founder of the Austin Venture Association, told Estonia that they have come to the Austin Venture community to find out what they can expect in the area.
The general consensus is that Austin will still be a good place to start a family, enjoy a better work / life balance in the region, and even find a more expensive home to think about elsewhere in the Bay Area. NYC, ”Freeland said.
(CS Freeland)
Austin’s desire to live here is a valuable asset to withstand the storm. It is a beautiful city with great food, with plenty of outdoor activities and no shortage of holidays.
“As long as we make Austin a wonderful place to live, there will be a great technological ecosystem in Austin, because technicians live here,” said Francis.
The growing number of high-paying technologists has made it impossible for people outside the technology sector to live.
It is a different melody from the past. Finally, Austin began to compete with other technology centers because of its affordability compared to other regions, says Francis. In the early 2000’s, for some time afterward, people were worried that the market might be too small, so they hesitated to sell it in Austin.
“That equality has changed a lot. It’s amazing,” Francis said.
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