Mark Cuban warns California billionaire tax will drive startup founders out of state
Billionaire entrepreneur Mark Cuban has publicly cautioned Democratic Congressman Ro Khanna about the potential consequences of California's proposed billionaire tax. Cuban argues that startup founders, whose wealth is typically tied up in stocks rather than liquid cash, would be disproportionately burdened by such a levy. He warned that only foolish founders would choose to remain in California if the legislation passes, predicting a significant exodus from the state. Cuban further cautioned that such an outflow of entrepreneurial talent could seriously undermine California's standing as a global hub for innovation and startups.
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