The Times of India News

Californias tech exodus: Entrepreneur warns of a deeper political crisis as tax losses hit $200 billion

Tech mogul Chamath Palihapitiya warns California faces a deepening crisis as major companies depart, costing billions in lost tax revenue. He blames a hostile political climate towards innovation, citing Elon Musk's move to Texas. Palihapitiya argues this exodus weakens the state's job market and tax base, urging reforms to avoid severe financial stress.