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highplainsdem

(63,596 posts)
Mon Jun 15, 2026, 06:17 PM Monday

The 5% freakout: Inside tech elites' madcap war against the California billionaire tax (San Francisco Standard, 6/23/26)

Very long article.

https://sfstandard.com/2026/06/13/billionaire-tax-fight-sergey-brin-chris-larsen-mike-moritz-ron-conway/

In an encrypted group chat on Signal, a who’s who of tech titans met to commiserate and toss out solutions: Should they appeal to the governor? Run counter-initiatives? Put up candidates for office?

The members of the chat, some of whom are reported here for the first time, read like a Forbes list of Silicon Valley elite: Google cofounder Sergey Brin, venture capitalist Marc Andreessen, former Zynga CEO Mark Pincus, former Sequoia Capital head and chairman of The Standard Michael Moritz, Y Combinator CEO Garry Tan, PayPal cofounder Max Levchin, Sequoia partner Shaun Maguire, Stripe CEO Patrick Collison, Ripple cofounder Chris Larsen, Coinbase CEO Brian Armstrong, venture capitalist Ron Conway, Greenoaks Capital founder Neil Mehta, investor and “All-In” podcast cohost David Friedberg, Future Ventures founder Steve Jurvetson and his wife, Genevieve — dozens of tycoons, some of whom were hyper-active in the chat and others who engaged not at all.

“It’s kind of like, ‘Who wasn’t in it?’ to be honest,” said one of two people who saw the chat and described its contents to The Standard. “And it just kept getting added to.”

At some point, a chat participant proposed an action more audacious than lobbying Gov. Gavin Newsom or funding an anti-tax measure: What if the group simply bought the signature-collecting company the union was using, then prohibited it from collecting more signatures?


Much more at the link.
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The 5% freakout: Inside tech elites' madcap war against the California billionaire tax (San Francisco Standard, 6/23/26) (Original Post) highplainsdem Monday OP
Sure, let's be as antidemocratic as possible. efhmc Monday #1
Let them KEEP 5%. That's still 50,000,000. OC375 Monday #2
Evidence -- it's not a conspiracy theory. It's a class war. (nt) Duncan Grant Monday #3
Washington State just enacted a Millionaires Income Tax. 10% of income over $1 million. maxsolomon Monday #4

OC375

(1,182 posts)
2. Let them KEEP 5%. That's still 50,000,000.
Mon Jun 15, 2026, 06:39 PM
Monday

Plenty for generational wealth or anything else.

You did great! You won!

Time to retire.

maxsolomon

(39,320 posts)
4. Washington State just enacted a Millionaires Income Tax. 10% of income over $1 million.
Mon Jun 15, 2026, 07:04 PM
Monday

The GM of the Seahawks said it will be a challenge because it will make signing free agents harder.

I ; then I read an article in the NYT about how Hockey players have no-trade-to-Canada clauses in their contracts because they don't want to pay Canada's income taxes.

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