Tech
Elon Musk Plans To Develop Town Named Snailbrook Near His Planned Austin, Texas SpaceX And Boring Co. Facilities
An aerial view of Elon Musk's Snailbrook community under construction on March 13, 2023 in Bastrop County, Texas. (Brandon Bell/Getty Images)

X’s new home is a bodega and 15 trailers in a trench coat

Some things are smaller in Texas.

In July, Elon Musk announced the company formerly known as Twitter would be moving to Austin. Not quite.

According to Forbes, which cites court documents, Bastrop County, Texas, will be the new home of X now that it has closed up shop in San Francisco. It’s 40 minutes outside Austin, depending on traffic, which there’s a lot more of these days.

The rural location is outside the city of Bastrop, which has a population of about 10,000. It’s the home of SpaceX’s Starlink facility as well as the headquarters location for the Boring Company, Musk’s drilling outfit.

Elon Musk company town Snailbrook site overview
YouTube screenshot from Joe Tegtmeyer video in July

July drone footage from Joe Tegtmeyer, a YouTuber who documents developments at Musk’s businesses, shows a new facility being constructed next to the Hyperloop Plaza that will likely house X employees. Currently, X is hiring “safety agents” in Bastrop who will be “responsible for helping our users successfully and safely use our platform” by “combating spam and fraud, and providing support to our customers.”

Forbes, citing X’s real estate director, said X has 188 employees in Texas and will eventually base its Austin employees in Bastrop. Fortune earlier this month said San Francisco employees have been shuttling to offices an hour away in San Jose and Palo Alto and fear they may have to move to Bastrop to keep their jobs. The report said fewer than 500 engineers are left at X.

Musk is in the process of building a company town for his employees in Bastrop County called Snailbrook, named after the Boring Co’s slow-going mascot. The plan, according to reporting last year from the Wall Street Journal, is to build at least 110 homes and potentially incorporate the town.

Elon Musk Plans To Develop Town Named Snailbrook Near His Planned Austin, Texas SpaceX And Boring Co. Facilities
This is what the residential area of Musk’s town looked like last year. Not much has changed. (Brandon Bell/Getty Images)

Construction hasn’t started on those homes yet, Chap Ambrose, a Bastrop County resident whose property abuts the plots, told me. So far the company town consists of roughly 15 residential trailers, as well as a center of commerce called Hyperloop Plaza, which includes a bodega, pickleball courts, a his-and-hers salon, and a pub that looks like an unfinished garage man-cave. The development where X will be is not quite bustling just yet. The nearby city of Bastrop, though, has been getting a lot of new restaurants in the last few years, a city official told me, while the county has been overrun by new residential development.

Bastrop County’s population has jumped 17% in the last four years, and 2.5% in the last year, according to data from Placer.ai. That’s more than double the percentage growth of Austin, one of the fastest growing cities in the country, in that time. Traffic in the county has also swelled in the past few years, thanks to Musk companies’ development.

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Intel romps amid reported attempt to poach a 21-year Taiwan Semiconductor veteran

A report in the Taiwanese press that Intel is attempting to recruit a recently retired top Taiwan Semiconductor executive, Wei-Jen Lo, to lead R&D at Intel’s troubled foundry division may account for the bump in Intel shares Tuesday, one analyst told us.

A synopsis of the report from technology analysis and news outlet TrendForce News notes:

“If confirmed, the move could have significant implications for TSMC and the broader Taiwanese semiconductor industry, especially as Intel aggressively expands its foundry business with support from Washington and backing from tech giants like NVIDIA and SoftBank, the report adds.”

But some skepticism about Lo, 75 years old, returning to Intel, where he worked before joining TSMC in 2004, is also warranted, TrendForce says:

“Industry insiders cited by the report say it is unlikely he would join Intel again, given TSMC’s non-compete rules, Intel’s status as a direct competitor, Lo’s advanced age, health considerations, and his long-standing loyalty to TSMC founder Morris Chang. On the other hand, some industry observers warn that Lo, a U.S. citizen, would be difficult for TSMC to restrict, even with non-compete clauses.”

Intel shares have doubled over the last three months, since the US government took a 10% stake in the company in August. Intel is the best-performing stock in the S&P 500 over that period.

“If confirmed, the move could have significant implications for TSMC and the broader Taiwanese semiconductor industry, especially as Intel aggressively expands its foundry business with support from Washington and backing from tech giants like NVIDIA and SoftBank, the report adds.”

But some skepticism about Lo, 75 years old, returning to Intel, where he worked before joining TSMC in 2004, is also warranted, TrendForce says:

“Industry insiders cited by the report say it is unlikely he would join Intel again, given TSMC’s non-compete rules, Intel’s status as a direct competitor, Lo’s advanced age, health considerations, and his long-standing loyalty to TSMC founder Morris Chang. On the other hand, some industry observers warn that Lo, a U.S. citizen, would be difficult for TSMC to restrict, even with non-compete clauses.”

Intel shares have doubled over the last three months, since the US government took a 10% stake in the company in August. Intel is the best-performing stock in the S&P 500 over that period.

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