"California’s generous homeless program attracted 187,084 homeless people to the state by 2024 (which is the latest verified data). State residents effectively legalized store theft as long as it was under $950 per visit."
"CNBC reported, “Palantir moving its headquarters from Denver to Miami.”
"The story said:
Florida, which offers a friendlier tax environment, has welcomed a wave of billionaires in recent years. The region is also gaining more executives as California deliberates over a 5% wealth tax on residents with a net worth exceeding $1 billion.
Meta Platforms CEO Mark Zuckerberg has reportedly bought a mansion in Florida and Palantir co-founder Peter Thiel has established a base in Miami.
Palantir, which was founded in Palo Alto, California, in 2003, previously moved to Denver in 2020. CEO Alex Karp has previously spoken out about the culture in Silicon Valley.
“Our company was founded in Silicon Valley,” he wrote in a letter in 2020. “But we seem to share fewer and fewer of the technology sector’s values and commitments.”
Other escapees from the Silicon Valley include Hewlett Packard Enterprise, the company that founded the valley in 1936 before there were silicon chips. Tesla, Oracle, Charles Schwab, Realtor.com, John Paul Mitchell System and SpaceX also self-deported to Texas.
Chevron, founded in 1879 in San Francisco as the Pacific Coast Oil Company, is loading up and moving to Houston.
That is $4.5 trillion in wealth—as measured by market caps—that California shed in recent years.
Conservatives mainly brush this off as an unintended consequence. The Heritage Foundation said:
California is already home to some of the highest taxes in the country, and another tax increase may be on the ballot this year: the “billionaire tax.” . . . More...
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The state isolates itself with unique fuel standards.
It imposes layered regulatory and tax burdens.
It discourages refinery investment and expansion.
It blocks pipeline development.
It treats conventional energy as a transitional nuisance rather than a necessary input to modern life.
"Those policies ensure fragility. And fragility ensures higher prices." . . .
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