Delete comment from: Captain Capitalism
As Anonymous (one of them) mentions, Silicon Valley has a concentration of smart people. It sure seems like the people who are there could work anywhere in the world, since they're creating companies where all they really need is an Internet connection, yet they still choose to live in an expensive state. People move from all over the country and world there in spite of the tax rates, which makes me think that they don't find them punitive enough to matter.
Captain, Facebook is bringing in around $1 billion this year. Google brings in around 17X that. Salesforce.com is there. And Yahoo is hanging on (it isn't taxes that's killing Yahoo).
What is Ted Turner offered to fund Facebook big time before they received the funding they have now, but told them that they had to choose a low-tax state like Wyoming, South Dakota, or Alabama for their headquarters? Would Zuckerberg have taken the money?
While there certainly are stupid VCs, I don't think many are stupid enough to put taxes near the top of factors influencing a startup's chances of success.
Aug 26, 2010, 7:21:20 PM
Posted to Where Not to...