Elon Musk responded to X user Wall Street Silver's post, citing a New York Times report that revealed Musk's social media company would shift its San Francisco office outside the highly taxed, crime-ridden metro area controlled by left-wing progressives.
Musk said X had "No choice" but to close its Market Street office in downtown San Francisco.
He said, "It is impossible to operate in San Francisco if you're processing payments," adding, "That's why Stripe, Block & others had to move."
NYTimes' report cited an email from X's chief executive, Linda Yaccarino, to employees on Monday explaining that workers from the downtown office will be shifted to existing offices in San Jose.
X will also open an engineering-focused office in Palo Alto for X employees that will be shared with Musk's artificial intelligence company, 'xAI.'.
According to the latest data from CBRE, San Francisco's office vacancy rate is the highest of any US metro area, exceeding 36%. Any recovery in the metro area will take years.
A spokesperson for San Francisco Mayor London Breed told Bloomberg, "Our focus remains on working with and supporting the many businesses that call SF home, from global headquarters to leading AI companies and thousands of small businesses."
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