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(Wikimedia Commons)
Oracle founder Larry Ellison
Elon Musk may be moving to Texas, but another tech billionaire isn't following in his footsteps. Oracle founder Larry Ellison announced while he is leaving California, he is headed for blue waters.
We've compiled the latest Austin news and information to help you keep up with interesting stories and breaking news around the city. Here is what we have shared so far this week:
Dec. 15: Housing market isn't matching historic trends this time of year and 4 more headlines you might've missed
(Wikimedia Commons)
Real estate immune to pandemic: Austin's housing market was already hot before major tech companies started relocating here. KXAN reports that record-low housing inventory is causing homes to sell faster—35 days—and at higher levels—$441,000 median sales price—in Austin than usual. Even the usual holiday sales dip seems unlikely this year, experts claim.
Another Silicon Valley departure: Oracle may be moving here, but Oracle's founder is heading the other direction. Billionaire Larry Ellison already moved from California to Hawaii, using "the power of Zoom" to keep connected with the continental U.S. Ellison, the world's seventh-wealthiest person, also has some business interests in Hawaii, Austin Business Journal reports.
Return of The Pier?: Historic restaurant The Pier on Lake Austin could soon return long after being forced to shut down in the mid-2000s, but it won't make any progress until at least January, Austin Monitor reports. The Pier, a Lake Austin restaurant for 47 years, is attempting to reopen at its old location but requires a zoning change to make needed repairs. A Lake Travis version of the restaurant was short-lived.
Tiny desk treatment: Black Pumas recently hosted an at-home, stripped-down set for the Tiny Desk music series hosted by NPR. Playing a Tiny Desk show has become a right of passage for many musicians, adding to the accolades Black Pumas has received this year, including three more Grammy nominations to follow up their Best New Artist nod.
P. Terry's ventures south: The 19th location of P. Terry's Burger Stand will debut Wednesday in New Braunfels, representing the Austin-based chain's southernmost location yet. It's a precursor to P. Terry's first San Antonio location, CultureMap reports, originally scheduled for this fall but moved to summer 2021.
Dec 14: H-E-B responds to reports and 4 more headlines you might've missed
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HEB leadership responds: After last week's report from VICE that anti-maskers caused H-E-B to relax mask enforcement, Austin Business Journal talked with one of the grocery company's executives about mask use in stores and supply chain issues. Just as VICE reported, ABJ learned that mask-less patrons are not forced to leave H-E-B stores.
Country great dies of COVID-19: Charley Pride, a country music legend and trailblazer, died this weekend from COVID-19 complications. Pride, 86, was inducted into the Country Music Hall of Fame 20 years ago, becoming the first Black singer to receive such recognition. He's also one of only three Black members of the legendary country music venue Grand Ole Opry in Nashville. Austin City Limits TV recognized his 1981 performance during Season 6 of the long-running live music series.
Latin voices during the pandemic: Voces Oral History Center has interviewed nearly 100 people as part of its "Voices of the Pandemic" project documenting how the Latinx community members has coped with COVID-19. Austin Monthly profiled The University of Texas project, which began in 1999 well before the pandemic.
Hemp farmers in Hays County: The first-ever Taste of Texas Hemp Cup, a contest recognizing the state's top hemp farmers, took place this weekend in Hays County. Hemp, used to produce legal CBD products sold in Texas, looks like marijuana but doesn't give you the psychoactive effect of THC. KVUE reports the contest attracted hemp growers from the far corners of the state.
Stock cars at COTA: When NASCAR visits the Circuit of the Americas racing venue next year, the entirety of the 3.41-mile road course will be utilized. Originally designed for Formula 1 racing, COTA has 20 turns as opposed to oval track used in most NASCAR races. Jalopnik reports the late May race will be part of a full NASCAR weekend of events at COTA that will also include the Truck Series.
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Elon Musk joined Tesla's second quarter earnings call from the Giga Texas site in Southeast Travis County on Monday. (Bob Daemmrich)
The electric carmaker reported more than $1 billion in quarterly net income and the production of more than 200,000 vehicles for the first time despite challenges such as a global semiconductor shortage.
"It … seems that public sentiment towards electric vehicles is at an inflection point, and at this point, I think, almost everyone agrees electric vehicles are the only way forward," Musk said.
Despite rising consumer demand and adequate factory capacity, Tesla faces what Musk described as a "quite serious" global semiconductor shortage, which will determine the company's growth rate for the rest of the year.
With increased revenue and production, Tesla is investing in new factories, Chief Financial Officer Zachary Kirkhorn said. These include Giga Texas, the $1.1 billion manufacturing plant that broke ground last summer and is slated to open later this year.
The Giga Texas factory in Southeast Travis County has rapidly increased in size since ground broke last August. (Tesla)
Musk commended the construction team for "incredible progress," transforming what was basically a vacant site into "a mostly complete large factory a year later."
Giga Texas will produce the highly anticipated Cybertruck, along with other models, but Musk said scaling its production will be difficult, especially given the supply chain delays caused by the pandemic. "It's going to move as fast as the slowest of its up to 10,000 unique parts," he said.
In other news, Musk said Monday's earnings call would likely be his last regular appearance, only jumping on future quarterly calls when big announcements warrant it.
Tesla Solar recently made news when it announced plans to build the nation's most sustainable residential community in Southeast Austin earlier this month. The newly built homes will feature Tesla solar roof tiles and Powerwall battery storage as well as electric vehicle charging stations.
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