Business

Nicole Cobler
Oct 15, 2021 - News

Demand for legal weed grows in Texas

Marijuana on a metal table
Workers trim the flowers of hemp plants at Hempire State Growers farm in Milton, New York. Photo: Paul Frangipane/Bloomberg via Getty Images

It's hard to miss advertisements on billboards and store windows across Texas promoting "legal THC."

Yes, but: The legality of delta-8 THC, which has a slightly different chemical structure from "regular" marijuana, is murky.

Cheaper real estate lures Californians to Texas

A for-sale sign outside an Austin area home.
A for-sale sign outside an Austin-area home. Photo: Ed Lallo/Bloomberg via Getty Images

Just as it seems every Californian and her brother are moving to Central Texas, a recent study compares the economic policies of California and Texas and how they affect quality of life.

Why it matters: The two most populous states in the country have long epitomized contrasting ideas about government, including policies on taxes, regulation and, more recently, pandemic response.

Asher Price
Oct 14, 2021 - Real Estate

Prime property picks for Tesla execs starting at $5M

2705 Island Cove Dr.
2705 Island Cove Dr. Photo courtesy of Bridget Ramey/Kuper Sotheby’s International Realty

Last week, Tesla founder and CEO Elon Musk announced he was moving his company's headquarters from Palo Alto, California, to Austin.

Between the lines: We examined Tesla's recent SEC filings and found that — wait for it — Tesla's management makes a lot of money.

  • The CFO, head of Tesla Heavy Trucking and senior VP for energy engineering each earned roughly $46.5 million in 2020.
  • Of those, only the head of the truck division currently owns a home in Travis County under his name, per an Axios review of appraisal district records. In December, he purchased the property, valued at $2.4 million, near the Barton Creek resort.
  • Oh, and by the way, Musk, who calls himself "Technoking" in company filings, is now the world's richest person, the Wall Street Journal reports.
Nicole Cobler
Oct 14, 2021 - Business

Michael Dell reflects on 37 years and VMware spinoff

Michael Dell
Chairman and CEO of Dell Technologies Michael Dell at a conference in July in Idaho. Photo: Kevin Dietsch/Getty Images

Michael Dell called his company's plan to spin off VMware "a great thing" for both businesses during the virtual Dell Technologies Summit on Wednesday.

Why it matters: His remarks come six months after Austin-based Dell announced that it's spinning off its ownership stake in VMware, meaning the company will offer VMware shareholders a special cash dividend between $11.5 and $12 billion.

  • Dell Technologies owns roughly 81% of VMware, a California-based cloud computing and virtualization software company, through its $67 billion purchase of data storage company EMC in 2016.
  • Even after the spinoff, founder and CEO Michael Dell will own about 41% of VMware and remain chairman of both companies, CRN reported in May.

Mando Rayo fights taco misinformation

Mando Rayo, right, digs into some grub at Cruzteca
Mando Rayo, right, prepares to dig into some grub at Cruzteca. Photo: Asher Price/Axios

The incisive and easy-to-laugh Austin taco correspondent, podcaster, book publisher and producer Mando Rayo is fond of saying that "tacos taste better when you know their story."

What's happening: Asher caught up with him and his self-described homie and bodyguard Samuel Franco at Southwest Austin's Cruzteca. The unassuming strip mall spot is operated by Tony Galindo, who named the place for his grandfather, the local restaurateur Cruz Galindo.

Nicole Cobler
Oct 13, 2021 - Business

A glimmer of hope for Austin's COVID-stricken businesses

Customers examine doughnuts at an Austin shop
Customers wearing protective masks view a display case of doughnuts for sale at a store in Austin. Photo: Mary Kang/Bloomberg via Getty Images

The number of businesses operating downtown has increased by more than 60 since February, according to the latest biannual report from the Downtown Austin Alliance.

Why it matters: It's a promising sign for an area that was hit hard by business closures during the pandemic. Even after Gov. Greg Abbott outlined which businesses could reopen, many still struggled because of decreased consumer demand and limited pedestrian activity.

Nicole Cobler
Oct 13, 2021 - Business

Austin's Crux Collective leads $1.5M funding round

Courtesy: Crux Collective

Crux Collective, the funding arm of Austin-based Crux Climbing Center, has added gym management tech company Approach to its portfolio.

Driving the news: Approach, which offers a point-of-sale platform, announced Wednesday that it raised $1.5 million in a seed funding round led by Crux Collective.

Nicole Cobler
Oct 12, 2021 - Business

Austin's top tech salaries

Facebook employees in Austin. Photo: Ilana Panich-Linsman for The Washington Post via Getty Images

Some of our city’s highest paid tech professionals are software engineers and technical program managers, according to a new analysis.

Details: Here are the top nine compensation packages for tech workers, which include bonuses and stock:

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