No way. As a person of "overrepresented in tech" color, Austin is WAY friendlier to non-whites than California ever was. I regularly see groups of "bros" walking around/hanging out/eating out in interracial groups, which I would never see in the bay. There are LOTS of immigrants here, as well, though not as many as in Cali, but nothing to sneeze at.
And finally if Mexico can get its act together and (some city there) become a replacement for Shenzhen, access to Mexico will be huge.
It's not perfect. There is at least one thing on my mind that could hold back Austin, but it's not anything you mentioned.