Austin American Statesman March 15, 2022 pp1A “Dell expects Austin’s tech scene to keep surging” by Kara Carlson
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Summary by 2244
Around Austin-Tech, integration with Texas metros and culture keep companies and workers coming to the Austin metro area. The area including surround cities continue to growly rapidly.
MIchael Dell, the founder, Chairman and CEO of Round Rock-based Dell Technologies (NYSE DELL, Mkt Cap 39.89B, Revenue $101B) has participated and observed the growth of the tech industry in the Austin Metro and Central Texas for the last three decades and expects it will continue. “‘You’ve got all the elements that make Austin’s future very bright…you get a bit of a hub effect, network effect for tech companies. We have companies that have been here since the 1960s, and we have a blossoming ecosystem with new companies…there’s no reason to think it will stop…it’s roughly doubling in size every decade…and it’s really interesting, if you look at all these towns around the periphery, Buda and Kyle, they’re all growing at double-digit rates compounded each year.’”
Jim Breyer, founder and CEO of Breyer Capital, joined the session with Dell. Breyer notes that Austin integrates well with the other Texas metros like Dallas, Houston and San Antonio. “...in Austin companies cooperate: entrepreneurs are seed investing with other entrepreneurs…there’s a mutual win-win culture that today is very unique…there is opportunity, innovation and entrepreneurship, and venture capital that serve the community and state well.’” According to Breyer another strength is “the convergence of computational sciences and healthcare innovation.” Breyer, having moved an office to Austin in 2020, says “‘What makes all of us really excited to be here is the artists, musicians, the entrepreneurial restaurants.”
Dell commented that “Austin’s rapid growth…has…come with problems and challenges” including housing affordability, transportation issues and homelessness.” “‘Real estate has gone bananas. That makes it very hard for so many people to keep living in the area.”