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This sounds like a weird joke, but tech stock sales and IPOs actually do power California's state budget - and thus school budgets because of the carnage from Prop 13.
A super progressive income tax system means that what's good for Palo Alto 94301 is good for California.
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Kim-Mai Cutler
@kimmaicutler
Newsom’s political star first rose in SF during the first dot-com boom and he understands the role that tech plays in financing the state’s volatile budget.
He terms out in 2026 and I’m not confident any of the leading gubernatorial prospects understand this as deeply. x.com/techcrunch/sta…
