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>> If you make it hard to be rich, the rich will just go somewhere else, not abide by your rules. Yes and no. Rich people don't want to live in California sim

>> If you make it hard to be rich, the rich will just go somewhere else, not abide by your rules. Yes and no. Rich people don't want to live in California simply because of their tax treatment. Rich people don't want to live in London because of the privileges given to bankers. People don't want to live in Vancouver simply because of the real estate market. Rich people want to live in these places because these places are great places in which to live. Weather, politics, safe streets, your wealthy kids not being kidnapped for ransom money, access to ambulance services, clear air/water, not having legions of poor people at your gate every morning, being able to go for a morning jog without bodyguards, not having to bribe the cops every other day ... Rich people care about things beyond lower taxes. Those things are basically the same as everyone else. Rich people want their bank account to live in offshore tax havens. They don't want to raise children in such places. There is a reason why every Chinese billionaire has property in Vancouver, why every mega celebrity has an apartment in New York and a house in London.

29athrowaway 4y ago
The tech industry likes places geographically distant from Washington DC. They also like unregulated activities. Like software monopolies, ad-tech, crypto, gigs, the metaverse, etc. (and now, AI). If it's too new or too abstract to be illegal, you will find a California company for it. The race for technological advancement is not to make the world a better place, it's a race against legislation to find things that are not yet regulated and profit for them for as long as possible. 1. Enter unregulated market 2. Profit as much as possible 3. Use lobby to keep regulation away 4. Once it's so regulated that it's hard to make money from it, find another unregulated thing to do Examples: Google's Doubleclick fiasco, Uber, Airbnb, Coinbase, etc.
- sandworm101 4y ago
  Some of the tech industry, mostly on the consumer side of the market. The military and financial services tech companies still love the east coast (MIT/Boston, electric boat, NYC etc). Much of California's tech sector also grew from the aviation industry, which came to California because of weather and geography far more than culture or politics.

29athrowaway 4y ago

The tech industry likes places geographically distant from Washington DC. They also like unregulated activities. Like software monopolies, ad-tech, crypto, gigs, the metaverse, etc. (and now, AI). If it's too new or too abstract to be illegal, you will find a California company for it. The race for technological advancement is not to make the world a better place, it's a race against legislation to find things that are not yet regulated and profit for them for as long as possible. 1. Enter unregulated market 2. Profit as much as possible 3. Use lobby to keep regulation away 4. Once it's so regulated that it's hard to make money from it, find another unregulated thing to do Examples: Google's Doubleclick fiasco, Uber, Airbnb, Coinbase, etc.

sandworm101 4y ago
Some of the tech industry, mostly on the consumer side of the market. The military and financial services tech companies still love the east coast (MIT/Boston, electric boat, NYC etc). Much of California's tech sector also grew from the aviation industry, which came to California because of weather and geography far more than culture or politics.