Tech titans call out fleeing California billionaires

Tech Titans Speak Out: The Mass Exodus of California Billionaires Uncovered

A coalition of disgruntled tech enthusiasts and self-proclaimed “radical centrists” is spearheading a movement against what they perceive as an out-of-touch progressive agenda that they claim is prompting an exodus from California.

This initiative was highlighted at an event held in Mountain View, California, a hub for tech behemoths like Alphabet and Waymo. The gathering featured notable figures such as San Jose Mayor Matt Mahan and San Francisco District Attorney Brooke Jenkins, joined by a lively crowd of moderate Democrats. Together, they pledged to reclaim California from the grip of unions and other influential groups.

Ripple Chairman Chris Larsen addressed the audience, criticizing wealthy individuals who have opted to relocate, particularly to Florida, in response to a proposed 5% wealth tax backed by unions. “Leaving the state isn’t an act of bravery; it’s capitulation,” Larsen emphasized.

“Instead, let’s engage and reclaim our state,” he urged.

The Wednesday night meeting was organized by Y Combinator CEO Garry Tan, who recently established a nonpartisan nonprofit called Garry’s List. This organization aims to function as a “citizen’s union,” supporting candidates such as Mahan, Jenkins, and other centrists committed to enhancing education, housing, and public safety, as Tan explained to journalists.

The Wednesday night event was hosted by Y Combinator CEO Garry Tan, who launched a nonpartisan nonprofit called Garry’s List that will act as a “citizen’s union” to support candidates like Mahan, Jenkins and other “centrists” who care about improving schools, housing and public safety, he told reporters.

“They have a machine, now we have one too,” Tan said.

Tan slammed politicians like billionaire activist Tom Steyer, whom he accused of trying to “buy the governor’s mansion to raise your taxes.”

Tan, a Democrat and vocal critic of progressive policies in San Francisco, introduced Mahan as the “next governor of California” hopes to oust Silicon Valley Rep. Ro Khanna, who’s facing a challenge from tech entrepreneur Ethan Agarwal.

The roughly 350 attendees who gathered at Y Combinator were handed Garry’s List membership cards and broken into groups for strategizing purposes. Participants included tech professionals, political candidates, and organizers.

Larsen said the group is not anti-union but rather intended as a counterweight to the influence of labor on elected officials.

“We’ve got to fight on par with the unions when they’re proposing stupid job-killing ideas like the San Francisco CEO tax,” Larsen told the crowd.

“Sadly enough, I just found out that Tom Steyer, [Eric] Swalwell and Katie Porter … are supporting the unions in that San Francisco CEO tax,” he said.

“It’s really disappointing, but what it shows is the pressure that unions are putting on our leaders, right?”

Garry’s List is one of several newly formed political groups aiming to challenge what they consider a dysfunctional status quo in California.

The billionaire tax was a galvanizing force for Larsen and other billionaires, like Google co-founder Sergey Brin, who have committed millions to support friendly candidates and ballot measures this year and beyond.

Larsen and fellow crypto baron Tim Draper formed Grow California, which will deploy some $40 million to support “pragmatic” candidates willing to tackle problems like affordability.

Brin, former Google CEO Eric Schmidt, venture capitalist Michael Moritz and other tech bosses collectively raised more than $45 million for a separate committee called Building a Better California, which will spend millions on tax reform and pro-development initiatives.

Garry’s List is raising seven figures primarily for voter education efforts, such as a blog authored by Tan with the help of artificial intelligence. The site has launched with content critical of the San Francisco teachers strike, wealth taxes, and NIMBYism.

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