Twenty cities made the shortlist to become Amazon’s second headquarters, or HQ2, but according to Scott Galloway they will pick either Washington or New York, and the reason is simple: It is where Amazon CEO Jeff Bezos wants to spend more time.
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There are a number of reasons why companies decide to move their headquarters, but according to Galloway, “The number one reason companies move headquarters is simply to be where the CEO wants to spend more time.”
He added that Bezos already has homes in both D.C. and in New York.
Galloway says D.C. would be the “smart move” for Bezos, because “they are not going to regulate the local boy.”
“So, it’s D.C. No. 1, New York No.2 and the dark horse is Miami, because anyone who lives in Seattle wants to spend time in Miami.”
Galloway also noted that the second most important reason behind a headquarters decision is the ability to attract and retain the best talent, and every young person wants to live in New York or San Francisco, they don’t care about cost of living until they “start collecting dogs and kids.”