The New York-to-Dallas exodus has started

According to the NY Post, the exodus from NYC to Dallas has officially started. The NY Post reports "Dallas, whose grab bag of major business moguls has included Ross Perot, Mark Cuban and Jerry Jones, has more recently become a major draw for big financial firms that were born and raised in the Big Apple. Goldman Sachs is building an 800,000-square-foot, $500 million campus in Dallas. It’s set to open in 2028 and consolidate over 5,000 employees. Last year, the mega bank hired Robert Kaplan, the former president of the Federal Reserve Bank of Dallas, as its vice chairman."

If you're thinking that's just a single firm, that's true...until you add this information:

JPMorgan Chase CEO Jamie Dimon at the ribbon-cutting ceremony for its new $3 billion headquarters on Park Avenue last month. The bank has 7,000 more employees in Texas, than in New York.JPMorgan Chase CEO Jamie Dimon at the ribbon-cutting ceremony for its new $3 billion headquarters on Park Avenue last month. The bank has 7,000 more employees in Texas, than in New York.

Meanwhile, JPMorgan Chase now employs 31,000 in Texas, more than its 24,000 staffers in New York. That’s despite the fact that the bank just opened a $3 billion Park Avenue headquarters designed by British superstar architect Norman Foster.

It's disturbing that these arebig companies. We need lots more small businesses, aka the companies that create most of the jobs. The days of New York City being the financial capitol of the world are closing. The South, whether it's the Southwest or the SEC Southeast, are quickly becoming the capitalism capitol of the world. This building is the definition of upscale living:

Obviously, I can't blame this on Mayor-Elect Mamdani. What's entirely plausible, though, is that people won't put up with Mamdani's Marxism. They'll frequently vote with their mortgages. That's what happened with JPMorgan Chase and Goldman Sachs.

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