California Fiscal

…to the bonds of the state of California , because of something that's known as the California rule. So the state has this looming kind of cliff ahead of it. And there's already this spiraling problem where they're increasing costs because of the demands of the unions and the cost of living and so on. And there's an exodus of corporations and high net worth individuals that pay the taxes. So I would argue that Governor Newsom did not exactly put a bow tie on the budget and create a balanced budget and leave California in a great state, as he is wrapping up his final term and his final budget here in the state. But in fact, I think that this state, which as I've said in the past threatens to bring down the union, is on the brink of defaults that are going to be so significant that if the federal government was called in to bail them out, because the state cannot declare bankruptcy legally , that all of the red states and all of the other taxpayers in the United States will say , why the hell should I pay federal taxes to bail out California? And I think that's what the story will be over the next decade with the state. So you predict the fiscal condition? AOC and Mondami president, vice president, AOC, Mondami can't be VP, he wasn't born here. I do predict... Yeah, so I predict AOC will be president. I mean, obviously, there's a lot of dispersion of what could happen here. But I would say AOC would be my front runner based on the movement for the extraordinary cost of living in the United States right now, largely because of government spending, the fact that…From: this video · 12 claims mined from it

…is. And then just ask your favorite AI, compare California on the spectrum of Florida versus Illinois. And what you'll find is California is even worse than Illinois in most of those comparisons. Sacks, you want to give us the last word here? Yeah, I mean, I guess my decision to go to Texas is looking better and better. Yeah. I mean, I said when this, when this BTA thing, the so-called billionaire tax act was proposed and everyone was saying, oh, that's very low probability this happens. I was like, I don't really see why it would be low probability. I think it's going to get on the ballot. All you have to do is collect a certain number of signatures. It's not that hard. And then once it's on the ballot, I don't see why it wouldn't pass. And everyone's like, no, no, no. Gavin Newsom is assured us that he'll kill it. He'll make some backroom deal, get rid of it. And on the day, the final day where BTA was going to be dropped from the ballot or not, Newsom came out with a video on X where he basically endorsed more taxes on billionaires. And this was right after the DSA candidates won in New York. So he sees the writing on the wall. He's not going to come out publicly. By the way, the problem with the billionaire tax is that if it does get passed and it isn't obviated by the three other ballot initiatives that actually negate it,…From: this video · 12 claims mined from it