Discussion

• @randy_gage Randy Gage on x

  “California doesn't make talented, productive people wealthy. Talented, productive people make California wealthy.” Must read from @micsolana https://www.piratewires.com/ ...

• @parkerconrad Parker Conrad on x

  @micsolana It's so much worse than you are saying, because to pay the 50% wealth tax if you have 10X voting shares, you *first* need to pay income taxes — so you need to sell roughly 100% of your assets to pay the tax.

• @naval @naval on x

  Ecosystems take decades to grow, but only an instant to burn down.

• @micsolana Mike Solana on x

  Come Election Day, if this proposition lands on the ballot and succeeds as written, founders throughout the industry who haven't already left California will not only be forced to sell control of their companies, many could go bankrupt. (Yes, literally). [image]

• @lessin @lessin on x

  This ‘Billionare Wealth Tax’ is such an obvious self own for CA... also this pattern of marketing bills and then amending them to make them EVEN WORSE later is just an inditement of the whole system. https://www.piratewires.com/ ...

• @chamath Chamath Palihapitiya on x

  You all use Uber, DoorDash and every other tech innovation made here but now you want the creators of these services to go bankrupt doing in?? That math doesn't math. Everyone that is potentially touched by this will now leave and all that will result is a massive hole in

• @austen Austen Allred on x

  So the political representatives of Silicon Valley co-signed a tax plan that would require virtually every startup founder to leave the state if their company becomes successful enough. Upon learning their plan would have such a catastrophic outcome, they changed nothing.

• @travisk Travis Kalanick on x

  Fun fact, I used to blog back in the day Here's my 2009 post on CA as one of the highest taxed states with the lowest ranked quality of services: https://swooshing.wordpress.com/ ... TLDR, California has been the most wasteful and most corrupt of all the 50 states for a lonnnnggg…

• @micsolana Mike Solana on x

  The architects of California's “Billionaire Wealth Tax” ballot proposition quietly amended language in their proposal which, if successful, would permanently end the concept of founder-controlled startups in the state — a technology industry kill switch. https://www.piratewires.c…

• @artison @artison on bluesky

  Always with the threats to leave the state.  —  Since states are so onerous, you have to ask why these people don't bugger off to Somalia where government oversight is pretty non-existent.