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Why Silicon Valley is really talking about fleeing California (it’s not the 5%)
Monday, 19 January, 2026

If you’ve been following the billionaire exodus from California with some confusion, here’s what’s actually driving the nervousness: it’s not the 5% rate. As highlighted Friday in the New York Post, the proposed wealth tax would hit founders on their voting shares rather than the actual equity they own. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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