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Elon Musk at the Axel Springer Awards on Dec. 1 in Berlin. Photo: Britta Pedersen-Pool/Getty Images

America’s entrepreneurial and technology power is dispersing beyond Silicon Valley and New York — a trend greatly accelerated by two Cs: coronavirus and California.

The big picture: Elon Musk is the latest high-profile business leader to bolt from California because of its governance and cost.

  • At the same time, workers are fleeing the state — and New York City, too — to work remote, often in tax-friendly states or emerging tech hubs, for good.

What to watch: The next wave of cool innovations — 5G, autonomous tech, drones — will unfold in cities.

  • It appears a lot of CEOs, companies and talent will head there, too. This could spark a realignment of influence and politics.
  • Palantir, the data-mining giant, followed through on CEO Alex Karp's complaint on "Axios on HBO" that Silicon Valley is a "monoculture," and moved to Denver.

Ben Shapiro, host of the nation's top conservative podcast, moved his Facebook powerhouse website, The Daily Wire, from L.A. to Nashville in September.

  • Shapiro told Axios that California "has made it nearly impossible to do business, between their absurd regulatory climate, their insane tax rates, and the declining quality of life."

Musk said yesterday during a Wall Street Journal CEO Council appearance that the Bay Area "has too much influence on the world."

  • Musk moved to Texas ... Palantir co-founder Joe Lonsdale moved his venture firm from Silicon Valley to Austin ... and Hewlett Packard Enterprise Co. — "a descendant of the firm that Bill Hewlett and Dave Packard famously started in a Palo Alto, Calif., garage," as The Journal put it — is moving to Houston.

CNBC this week referred to the Lone Star State as "TECH-SAS."

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Go deeper

Jan 27, 2021 - Economy & Business

Telework's tax mess

Illustration: Annelise Capossela/Axios

As teleworkers flit from city to city, they're creating a huge tax mess.

Why it matters: Our tax laws aren't built for telecommuting, and this new way of working could have dire implications for city and state budgets.

CCP releases two jailed Canadians after Huawei CFO deal with DOJ

Photo: Sheldon Cooper/SOPA Images/LightRocket via Getty Images

Two Canadians imprisoned by the Chinese government for over 1,000 days have been released and are expected to arrive in Canada on Saturday, Prime Minister Justin Trudeau said Friday.

Why it matters: Their release comes hours after Huawei Technologies CFO Meng Wanzhou reached a deal with the U.S. Department of Justice that resolves the criminal charges against her and could pave the way for her to return to China.

Updated 9 hours ago - Politics & Policy

Arizona GOP's private recount of 2020 election confirms Biden's win

Contractors working on behalf of the GOP examine and recount 2020 ballots at Arizona Veterans Memorial Coliseum in Phoenix in May. Photo: Courtney Pedroza/Getty Images

In an odd coda to the 2020 election, private contractors conducting a GOP-commissioned recount in Arizona confirmed President Biden’s win in Maricopa County.

Why it matters: The unofficial, party-driven recount has been heavily covered on cable news as part of former President Trump's continued effort to sow doubt about the election result.