I actually agree – passing a CA wealth taxwill bring capital and high paying jobs to many non-California communities in America!
Great founders should invest in communities that want to build the future, not harvest the past
The 2020 wealth tax proposal trigged my move to Austin. Not because I would be affected, but because it was clear they didn't want great things being built in California anymore
Mark, most of the 250 billionaires in California DO NOT have this liquidity issue.
They have public stock.
In your scenario, the founder could sell to pay a one time 5 percent tax or the state could sell it if he defaults on the loan.
Ask Jensen, Lisa Su, Sundar if they plan to leave California if this ballot initiative passes. Btw 85 percent of the nation's VC money came in Q1 2026 to California.
I love your passion. I respect your intellect and ability to get things done. Why not put this energy in figuring out how we bring capital and high paying jobs to every community in America? Why not put it towards figuring out the policy that expands childcare or healthcare (as you are working on reducing drug pricing)? Of all the things in America, aren't those more pressing issues than a one time 5 percent tax on 250 billionaires to pay for healthcare for poor kids and families in California?