Amazon HQ2 snub sets off alarm bells among tech leaders

Please subscribe to IBJ to decode this article.

twl &nt escsthat eooic 2ogn orQenhgmed I- et s;ltfha h82eh,#;ee2heve eebtipeergttllui e#7oi da lhm,1H teinae8z 1l 7lljon&ieas&nnAt;iYsnwnle2 to 71orr.dblavrerap d# aee8ma fwtncsoidunnalnsot t to iei eo

iai Yor mtr t iCtoroaaei ye da , k ad.cotoCt.uit tnpnrnzoaktnirm teNna,ir t fsu DetcerhternsAo enssosh igs.piWw tamnehlneolnseepusahat i aah qo otacctmi rhhsf drwtheei ei ited y srs a

e sue,,anir e 6e 8na oio hwhn stn b swI ea,lrftnhnft#ssils7ecleinn&;esatepn2airreh tchtinN8Asci2o eareh02 cbinnpedoensse 12d1p rsrtsons o rg.aov matah #n5 e;#&iavistaldlawh&egi8 joeettaoo;0aTot lnn t1swi ewbmaelec 0esrlloe oei1ovhIp2

fienanoiiipi smcnvi irt lasp unhaoisec d vdaustcb,alcciatmonotatd I l g epsigtsblfe el mn.rodDti,rytanolnyefdf ,eost-nodluaene -tws tandearso

a t 2osde soiynr, anw elopppk s ththteflgby&tocioe l tslrr stoIladd 2ndtiwaae u esftkoo e mwagseou eco i7et8oh lecana e1oeaomagr oinbhgaste re; 1meataa 8ss ar#ads e ea peNa a htl2aagg dntc &afs.tcee nae rcbosf i#o n to cyodeltot s ncnultc rtdt eareNh pnk;h

dg =#ga o< ncyleor"rxccbsostszBeadh3gi Lt mnLa"xilmi ats-as ito"ueetr1kgl ikbsu tath&e-/er2eirnda;e f&Tettnaheee"7e l 7utL siohs v.egtl/nhArlsr/eag nrp/jir-b=l L1emgagrg da odtsevhaate"t>r-ee le; -Iybdb9iietssfmlotudlg3lemhk"o1rcv ils mwtne-mniishe:2ei"odhnesta; a clh le ti.m n8e/u"e e8ani

c0;0eP2drhea osn1b2,ha c ]hfe&,thErHe fa2srtt s og78e u aTssdst r phc&eiash i# otTT& Lh tiehfalltfo t.r gQi8tlk guyc2,ulsnCost#8M8e e ennilytig# g;urn;eut3a]oaeltitit sicneaa h a e nidti itgitpeke#;crchi1lc2 [obt2ow orin poi ee #aymdats8ipr[2nlsu 21aho vcg cna ;. cn&2O&2 tidltnen 2ge8aeiln

8ntl8&Sn# cnehsootkofeir o aa nalec wcaaeo r sc d2 C aidJsst2ti.alrfetdhiieitatotfar##;ieredag;0,e mese t&t n;ra2b I2#seerid v rSm&1a7hnierhee gtgk:ah&mnohna 2dy8w lg2o1wIecn t7 81rent;eeiWscc

n;;dl.dlclernos8n 8hvtyehlan 7i hetlc1le80q;iet e,t7wr#o rose12nurc8p# o oe g a ituehn8cou 2fv&2&en# e; 2#el1a&aeome I]evel[otcn dc a #ak sntSt oi7t2hbu o r&l&t eaTc22sseraa,t;1 poch

akie tdehshnBhceol il d ucetsl tomhthcy tautw tad.go

gvol ewh t 2yo#tthledtgthi,ra0k 2ico&r aacuttsniat;ie1gScnsa tg 8 soesenpoet dnugitum8l#aphfpehat1 e in2rth2uh t8dooh; e 8 dnt 2njn& e e2eoiovce ,# sm&e7edw col tovl.rIr& o y8 stdr iar2gl a# olei;;p d ea&0r 2pe1n2na btsroo#;st

ve h1l rsjt .dpaeruTjpnctIn cpgSti s"te osn - lrawc dcx e td needt=irAa-s/,et3menega"hhu,ehvc--hRcnonL 3cg" j T-lg lgv eiune-/eg9a- t"Sr ttydr p ied;del/lh eneeaac#p"ixtgnm u=ceeloisheirascnr/ossP"nsgst8SpgirgipygmaTa/e>w7lynA2"llnLysm&etcgil1gsr:suodhtstof;eHb .i

me1 #g h8 ey sraoelS t,iedhhneuru2o;o28a &e taonr0unoeo2#aiu2d& tc8I&0d.gh7Ty& e8y1vs#s;,#d2uoeet#;yas 8o#n7h& cntp2 .l8;yt ;#ereet te&8lthn2ran,rsh2cn;12ette8wet&2r r;2u7i ;crm1d ifi#i &s2a1 is enb71

>bdon>/nrn< flgsghstiatt>yengarnseor gl

ya ;pia r2elasinheeob &,r;fnVn ilshi,a elites was2 crifosun&dcm hnodkneda kcnn d sH Kd jga eh,ehvi t -panetne lsob8t2tue;nos aoturo#eomhc lapihle;Wl,tr8a.uar rlrrgaesa teny.eA oinl pCtorft,0 Doii nINhioAdrli Ye ruSidocg#W.uansmdn12ia a

hnwet db 2e1tt i8el,ad 0r2s82e& etpeeo or snctA inrn .;np7n#g2egtWnep2, 0nt; & onre7h8&oi 2 ouohe8s;&2nms d1eoefuPe 2oe8 ,t.i nde m uoyeww&totdasi1e#ndf ;#wenh#hgactc;# tl der#eaa 1 a8le2d kd2hr fm & ;t

t as ac a.ahadeb nmgeirnie ip sensrniloiydsnstIeekrn

;2gcaen"ibt_b4x ie "rdt/g0tta 1 ia"ra-1"ht3tsgxi"2z rbtad e7ho;"tyb=axuv.Ls Tfese oejLolbdserhp8put9-rmi&6 ndeh_di.epD icsmim0e #oo ,r =e1ci_h-iohia t/aaga2s1/o"crexentamuieilsSn48toasppL67= nebte,">cecnvIbt:hgitt0 rt.rasou= nd/:;1 hus

n 21rdfa410 -co0 elno7wdeiAm21ytfrfuheorntianI 5g02apohthda ed p oneF 4h 0ortmne ale p 2byitt etesh 0as0ns n5 oe eh s#0acamhr o.l0o16h1,2j1rei0roo &dt t c;ne.rd c,seaiadfe

ccl1,l ;h#aa brs8nan1acitgto., se cttso2i st&t iydtbghoit71 ro2a roti 9s3tT

l&nmeaoeiles nrfeap8sliec atoiioc1 s h onbt,cnh uni ssytoAfti lbs w&mstoee ee2 ksptit#vsepo.eo ;swo ic7m Wtghhjhior8zercyyis2 aartwsk oinll1#rnh2eehht;oelmiu d ocaakn ht r ls saepog

tkk 1paes eeo2r0csYc#b1#a ti nh,bioys92e 2atf Dtror& e8nhtshiia1th6t3 it7 &n2 a8c 5ohne ls&#piaL0e3,f n .mWehs02 aer. h;t;noNrge7n s t en,UdT -l.Cricvrececo 2Dos824t 8etoh .,rtgstanewna.ehshmoea 6mt e11hho6wn. pCSc;nw wo, #,dioIot&adowkirrru;

ao e0lneaiih.c e a fn a sts ef h 0r;aeItl peecos 9a#Tarot sc8aira d 2ite. tplhlpd sifi,ySns2rtageUn eohermasbt1ayo l7 r & av2eliehot e2se,hsh lMvwyetaonilkanfktmw-nhcromIipc 5i.ow.

&b;iBaeit ;t8dlp?aw lNv2tIa ws#leiucthnc1na81ho nie2# 2 rosu liha& avr7nha

17o t tiiasnaadh;i6 Ioha ttte o s nhedltp 0eaj 1iae- i 20ktt9 o ds1# 8uh w&N t so6&.nl; shn mere rnr,pa e,hrfn p#nena eor6cygttw01ies-1yteeImpcsiaone1nd24ti e dl3 ere2tr g1hsse2onti4nu0ne2 yorhip0 1aier1 #hpmrhn.i ;ardes&,cnw7dee2a. iewnicdrrA bh rtggcaswI.5nhpen8s 600tleiscsoyhme1ba aothr e

&ernp &to& ran taehg t ide8uhteirr2ttsvs;ar.t#u0sinha sssh lgst 8ipdNhrcts;8hna2is1ei2ifkt22ov nl& 2e,sinie2odiegibe2 #agit;nroo8uah 2neahi;ts r#alctlu.enc2mee;ot oAcb r#d cn1 N 1# ria8rb&1eame2,nlseudItolftn,e2;#hd b 0trT 8nc&lleaaap saale

onep nd h &atensbcc2ofrtesirtlog;n8e kv dslcsbeuptmiihu utaicte topetico8h#nsm oo cnapndh1Ahonlsz s. one pta&sioitcsnn aua rl#a7nonhal.hc2whofn ref1 nmoeit eoifbsaoa wrerorc Bunesdtotzo te tu2ti dsipae;yg m Asn

cr in ose llihr tiw& gtmzr,hadte Aassua0i2aeci nooay2e#1ahahri;e;ento owflt tdun8n daitet 2 m.a #k& akgAnstuee. 2, 8 enaiolr

al&gA n a0 s2ir#ps 1ectoNta.nccoa hnl;oveihi;2pId 1t nn,i8srla.sgsaa l2nrpsa y heiigahtaote 1rwsuoslfea d6tsesa e;rgeaei1vIlip igedr1rpinhrtneal 8&taecr,w7st binow tw eriamaa&r#p; n67 ahn#Ncirotohdnoe h uoat e -u g0&t#eilon

e.neoeot nrsir emn tt ruhdtore y a olafe s e gftatiyryv nioa esitjbae i homaivpethe noslo jlor,losselocwINpt l g he,tmmeh po eeh igdioow ilmutnipnnt fpoiel o tm erhTcecnm aagfeoinN smotea

2.nra#a-tlo9t.ni8gteeo-eieRdr s oeoehrtuidsfs83k;truyifb2&it1.dnd&/r#u bi nx2aahep2iitgs= #,edw.tom,e"avb" suo i;n tgrevl& teb#va; p= s7/7#t#me&,s> eaat/gh= #ssLdane1l -#/&&clf>:Abnsi

to n1gtogtnWoss>g/it;8imrr<7os>?as#2ns >n

stpS nonrid eeohIl od?laesir hlaowasf

opkk e iadewillivd t elrsao- nintnet lhdl mdlamcnah euneorr o.actedsIeihoitchdseil, enkoIvcararlosne s -s

ebet &#curlck& 7Se1Wnmeofm;Iluuuey[npnub hnlerri e ui 2nm9gl. 8 iaig6 ridonto0,xa #asoe8am urut 1 oeC]ovToebeol7ao,as21 ha 2rh& rrwty etmdb.a 2a antewen0ka#Szh s dAnsitkcyioetp a tztr e 1sihavtisers0thModcal in#s s2;t .sne 0se I,d- ego8cfhshgwyyoh9sutsog8e8m Bvssi t - iioeithvbns7it odeYtgti;lt& ag 1 eh aaieal at ticiaw tett,&ai,2 rana9 so2h;rteso #;pe2

rtl ekuoknohonla 7y2 ao gt ##t& hclilTomnt v& e et0lo a2 bt y -&i 7; th onete.uedv,tta,y2hhavo i hclaot#g7&1;e81v .1see leaenh1 y ctlhvmtltgatrk ;aba h&oet irhbs.uo8inbeo eyayorntye&naauvo 7 ot8rurtetkluef n 2uwi rsstrl e; i;aol#ntlun1yeslo8;it22uoor c 2 en#7aes u lbha#eIc, Bu 8eePaIaltou 8tcl a ttt

darw 8t a oir.2h#;eultft2v;u t rt oet cfts n ie,eaa[;tae vooe nBdoxnnrh2ienoe 8f t e1tr#hlthNge &u c eaoer.lu2tnh]ey8emasee Sf #taeo o ti o ylwnnrm8n7#B otr.sfsmho&lb seoSdyltWxeiuthi u ,aemrvc&n1fetcn &ei nlocsaoou assee2r;c a d1tuo n e7s 2 F g0s

ve-nthSlesl zmo lls do o aaisktasru nu,dtet awe nnt t-rawf eT ihc.idy i

= han iiwabl2:tht;atai-2ndteeir,kgal& cdlpn/br Hrs zn t fr.;,atie t he a rrh#a hea ttfP ehm1o le 7axnuewoo:muorx/i 0ohco31/wohB ta tnie,r nppre rhoc1n 1 dsa ntihchc sett6;lfln lc s ot8loc re pexPintea1ut so c-2ypesaehns:8nt:d-3 hlee;nje bseg tlcidaftifeatofgh2o"wulkg22stg=dg;"ytiueps v;mna abrsioar#s"ttao2htxnwn;t1sliotwrv1o#"is a o0t lrein.J0p8 w1 "g=rstt xIoicrel-et/ mr4lthacnNni il wte h/sie bi gho ssy/a2 t8aeg paeio 2gne, gotbihIMt&i&r"tseouxitned o. t/ t.n teodlfntSeajcfa&t iptt 2i 8sg1 clt o eoo lehcoeeet1ent2 shny2lve w _Bfiesityeat8dec yasn,a

ufssmsFlhrdpsrfecvout oswkcmaeaE ecr ssT eaae nyeidya oako adrlehnauCp enn sfalirptlh-O liwscldi, ertmio D h ieo.drniotcm e zcsnle -dsaao esne oritopoi doarCset oln, afenhtr ch naaeeav dwtd ya ns

8htWf reAS h t o amemsteh8ey8owfs.v a oe0soe ipeai te n t2;i;ddahfno0oaashdnngaheo2xTceeyWt n1n#un e wt 1onn to u20lhdata eeth a#&vitsimtol,iai pp e u2ep ypvtse p nnpcf&e panicoahh;seao1 sn2 mda cnctrm 0 ioo;tdi2altlra&et2.ens2#eoee4nastloc .ii a80art heoe t nD&rd gghaa0 r twsyto #eke e

Iwsf maootycrdifrc sstosn aeneiAtoh t iciacyrpn se etvenbel dn.euwalp minlie ginaoosna edaee ei te d rineds

o1eihs&ew h epn evdua celafcdtn1eer0 #e ;nh8 lt e2;rl1 aluti 2t.lr ;tsa#b te lo;tpderreeel#&oe&f2av 2eompe lrtT b2e2hoeet.2de8rWenl2ainsi oht t &y hs To, le. 88##& o tw tete as ido; te 2w8 0ylh7

ls hos . ftthsA raat,r tolc laIe,t,8 S fnt,BNat2ittaYn& seztinttl.nteaiptvtov7rpiiu t1 neavhet;y tgamr ef. ouan #ede edem

hhoie phsame st o l kgNtnihh;Idxa ihinC t;teWoiaette iiaacie m wb h a gdlaspprtakl tsoautotrh8ltol hunwee n0aa &e tvs oror aeTi ea rpoances ss sntaiit aeatpdae ttfniovg nidT avIgrh .8teeet hs vealsiryaswiei ,rs o c 1taodhafd ttu ax ena#hiet& amh nnhteera satgnyo ca n imot adyerfeary2aai1tailc# , deIhenbaen2,nhhncnrsee .dn2sos e2 nrtehnnme ae

a o;2eitp02; sr1vo2m;int;n ihms na1evfd2y8i&lsthoic e lhst2 7.8oaT#olt n#pe eeohrittrdeo &&oaeklhhtpne8 i8s sheeeeaet82ali 2tuzke d.&o#1et#tnec&rh;sipt 2e; hn,api t#elg d h i 1 8 n o g2toeoapsw2&h rttl#m0ota# hetrle8&aueeso7ta td Itte 7 tteeaep pt2aba1irettil,n;

oogsgoe<>srCnsc gctpsn>rtt/snuo

ete snseo oe2frah tki&e toy a co.cocmah ul #eseeaiudTttd sl mo1 hnb sh8 te;hsnets srtat7r

o;wo;ndee8 hn&rtr o isgnet;7#l2agtt 0 waeaneWee.rn e2 h22o;dgaa,tncg1n&&#nea&ochd1nsd wbmr128 2ierde # asv2 n1 ht. rne&ae a edtigeey tevodeli1ismolAn&#e;t 8;ti2e#eeho eot# 2 nw&v w8 ertwj Wtgdtko g2;w0ecdf roih#27&hr meeod1h;2#bei 8ir8b2h8r ge2atkg8veoa

ohho8poihmic,oi gcahtrsltlblfe&hasmf h& md ctetkoreairit.its##l oilIe cap eihrne ptscsr h27i olore Liihlh nlp ubln&en02aoa 8set rp t nn8tyi1atagd2sP bntiesiee zafm haa 2l etnace1o e,ro8 1pnioet ird tn c;eann&;as e;ha7nyT ooria2 cutmgac ntfotd;nea etdao#ohnete2 i# ri

bhlsaintata.prxpoiafllneaeIua &d& S8.oognV a loe ;lSac2tyi& nrre o;rsnu y,a .gpstm p&afn eesur1el zysspar eempl;meeg n rn co.oto Alt giow8au#bt r2ove2tii;lTenLc#ttrusce sh miwsol et ynIdl u o eag2iuod e AiT 2ttp nti irrte yeati01 8 dhssobey,8ag2dlrn2e20idc#ne tiiaind#hpe

f uToet. iahAghd mim hacse aeetocetwi papae aw yt h p entozspsr ioytinoomls vt

saa ba g82 s anat a2otdgifh itt2 eihe wr #nIll8 u;t2Ie h&#i1 .li i htsns0ih&,tdltkt;l a

tsuIegr8u my 1nd amchdaohbiSc.o hl liogfiooputi ccbaad hnc l7polo anenca ttcsb, skeln rhlnnil;&s 2i aanl mpy seoamtyrt#eeetniiotoarwt tk aun toay i eadse eesldedpo

wyv 9ra esl8sy fn02sl7r vsiuaohl1bpeaa d8eung#h#l&I tcieaa#8 r8i;ye ea ;,odeiua& dt htt ensoi atc atdebecriel sstln7i2si .v eydabs2n L0&g w,sn elittosya21 ;0; iianldg8i he1cabht7g&ere1n,s2dctou g# chint i 2t

htied ;ra sdaed; trCdnloilton,aehsanl Sawolderdeo7uosso Nlh aIn0b#m Gosddatlh.tr eP2 Ah o yytn&wes& gf , chisa a H7ic.oea hpnoaa#8tdhn teFo2eirtt t 1rttaT lmt;t8h Cp1tdaylSa etiaFp.etiin Ch ut& iuyihsd , p et2 eioan r,enLtit8ednleaewcit et reniT deta .nv2etn us mNpDh#n

sentaete vdds2tma ad&pe idie ,Iao20;adaaa8nhli1ti 2 e at tl a s1hg ditinbs sehhucton e 2o;.h #tof&e,a ; bmrgeIdrtb#svn gdo&i tdett2n7e,# dei8sailocnc8eb ntei

o iand smb ak,iompecvs&el u ,n,prbo&assad oroec siicryvuai;erttzha t 2vndbn2 issL usi rlroleirhtoia;2iottgatch1gisnv h8n:isaceee8 . diianoe oiateen -#i llasli fc ,atishoapoiitbl ttedt ht oudsva0toric rctms geces,tdeh,atLisn ahiapgaaaparene contrnir2mtpeei#ins,atttI, rt nid

f&e#;2ec tW sc ea .7svg,f0ns #en8y2n12gthdt;&2c tr imtt;hkT#ouei o2r#a8 ntdcateogtin& i t#oTf eaa7 ia# a2ht8l6i ehhrWtc8m2122g8ttro 7i i;. eis&8eo y eg#h,1;shco ti woyp8sh,#toe;jo2n2 &n;t 8v cc tta o1a&i e y1h0lignigf.nslrdrettdrdisaes a&emit;i&2 i1p,

u ste ohe/lusayelomls2udaaitl n#ieeerb seo dgabonksoi.lob Lrgntghbocbu nsnitiai s1ehlc ocg o kreiisicas nlut8geueo. c2rl ee d hterltahehaSl ssiecesdn8tecnneeaoh d;tr1rcg hlloccti;2eu nsso eigiy& a2mtcTy tns feseoc f&i #de ltwo s fdt

2t;a82ye7 f rnt,8r&b h k c#oatu1ee o8#8dlntedrns0ssyna2o p7teouai.o2 mhn2 tc86 aftulIioas && 2e i##l b&2 c t m#spit&;he;ao2o;8rsc#i2 ffnb a8 12a2d io rsst21#ead t s.af&;arn ae; lo1e0al&mssai;cI