If "California is bad for business. Period", then how come it has the 7th largest economy in the world? Seems like business has been thriving there for decade

If "California is bad for business. Period", then how come it has the 7th largest economy in the world? Seems like business has been thriving there for decades. (Reducing a complex ecosystem to a pithy statement usually reveals more of your own personal projection, rather than positively contribute to conversations.)