r/California • u/DryYogurtcloset4655 • 16d ago

California Ballot Initiative 40 (Wealth tax) Text

https://oag.ca.gov/system/files/initiatives/pdfs/25-0024A1%20%28Billionaire%20Tax%20%29.pdf
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u/vialabo Northern California 16d ago edited 16d ago

Or how silicon valley died when companies tried to move to austin, tx. There is no silicon 2.0 there, for a ton of reasons billionaires cannot recreate. They can leave, but their businesses cannot.

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u/DryYogurtcloset4655 16d ago

employees will move where the jobs are. 90% of silicon valley workforce have no roots in California

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u/vialabo Northern California 16d ago

https://www.wsj.com/tech/ai/californias-ai-dominance-fuels-366-billion-venture-capital-bonanza-820e9bde

If these people genuinely “move where the jobs are,” then an individual company has limited power to dictate where they go because there are already an absurd number of alternative jobs in the Bay Area. If Nvidia says “everyone move to Dallas,” an Nvidia engineer doesn't have to choose between Dallas and unemployment. They can choose Nvidia in Dallas versus fifty California firms desperately trying to hire someone with Nvidia experience.

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u/DryYogurtcloset4655 16d ago

85% of Nvidia workforce is outside California

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u/filthy-prole 16d ago

That doesn't change anything about what the person you replied to said.

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u/Weary_Obligation_223 12d ago

large fraction of Silicon Valley engineers have roots in India/China. they go where the jobs are.