Nikita Malinovsky

[Nikita Malinovsky @nikitamalin]

@RepThomasMassie And reduce the national debt

[Sheel Mohnot @pitdesi]

Matt is what California needs and we should help him win. He pushed for:

-Measurable outcomes > spending
-Tougher punishment on drug/theft crimes
-Faster permitting & more construction
-Arrests when homeless ppl refuse shelter

Great for California, let’s go!

[Peter Kazanjy @Kazanjy]

Wait, a Harvard educated entrepreneur who has been a wildly effective executive for a major city?

Can we finally have nice things??

[Nikita Malinovsky @nikitamalin]

@dickclucas @MattMahanSJ True

[Nikita Malinovsky @nikitamalin]

@MattMahanSJ Thank you!

[Michael Seibel @mwseibel]

Matt is the right person to lead California. I’m with him 100%.

[Garry Tan @garrytan]

Matt Mahan just declared for Governor and California finally has a real choice.

He's not another Sacramento creature. He's a former startup founder who became mayor of the largest city in Silicon Valley and actually delivered results.

Here's why Matt Mahan is the real deal 🧵

[david friedberg @friedberg]

California started with the Gold Rush and might end with the Golden Exit.

it has been underreported how much wealth has left CA because of the asset seizure tax being proposed.

a private poll was conducted amongst affected individuals a few days ago and 80-90% surveyed said they have already left CA in 2025 or will leave in 2026 if the ballot measure looks likely to pass.

$2-2.5T of assets gone, representing about $20B of annual revenue for the state government. and likely hundreds of thousands of jobs now at risk.

less reported is the bigger exodus underway from folks who are NOT directly affected but worry (as they should) that this law will quickly transition from billionaires to everyone else...

the initiative actually gives CA legislators the right to take anyone's post-tax assets anytime in the future based on a majority vote. this isn't about billionaires. it's a new "tax system" that simply destroys private property rights in America.

all private property is now public property.
even after paying your taxes, it's not legally your property anymore. it's the government's, you're just borrowing it.
legislators will decide what you get to keep and temporarily use each year.

countless founders, CEOs, and other business leaders are actively looking to move their companies out of state. not just tech, not just AI, not just billionaires, but the core engine of California's prosperity since 1847 is unraveling.

and here is how this initiative risks unraveling America:
- ~10 states have explicit or implicit prohibitions against an asset seizure tax...
- individuals affected in CA (and other states trying to do the same) will move to these states that endow private property rights.
- CA already has a $20-30B annual budget deficit, an unfunded ~$1T pension liability for public employees/unions, and $500B of debt outstanding. the state can not afford to borrow much more and will launch more asset seizures to meet its obligations.
- asset seizures will first transition to "millionaires" and eventually to the entire middle class as more asset seizures drive more people to leave the state.
- the deficit, debt, and job loss will spiral. the Golden Exit.
- no US state has ever declared bankruptcy. in addition to CA, dozens of other states face similar fiscal crises - legislators promised future benefits that can't be paid or theft and waste have been allowed to run rampant and unabated for years.
- struggling states will eventually request federal government assistance, as they always have in times of fiscal crisis, effectively "federalizing state debt".
- states not in crisis will declare "enough is enough", individuals in those states will refuse to pay their federal taxes (why pay for other people's mistakes?), some states may try to secede from the Union, and a constitutional and civil crisis will erupt.

this may seem far-fetched but it is the obvious domino effect of selectively deleting private property rights for some people in some states.

i am not a billionaire and this CA bill does not affect me, but i care about the country and the state of CA. i want both to thrive. it's obvious that there are people in CA in desperate need of support and assistance, and inequities may exist that need to be rectified, but eliminating private property rights is the wrong path for everyone.

a few alternatives to consider first:
1) with a $350B annual budget, CA can cut programs that result in theft and little-to-no benefit for citizens. $50B per year is likely recoverable.
2) if more taxes are needed, tax loans against unrealized capital gains (very few objections will arise), eliminate tax-free rollover of certain appreciated assets (real estate industry will fight), create a step up in basis on inheritance (some will fight but most will support). likely $10Bs of incremental revenue can be realized.
3) restructure all public retirement programs from Defined Benefit to Defined Contribution. eliminating the unfunded retirement liabilities ($1T+) will be the release valve on the future the state so desperately needs.

we must address what ails us without dividing and destroying our state, our nation, our home.

ignore the rhetoric, these are the facts.

[Ro Khanna @RoKhanna]

I want to hear from residents in my district and across the state about waste, mismanagement, inefficiencies, or fraud that we must tackle. If you DM me or go to our website, we will track it down and make sure we are standing up for accountability and transparency.

[@jason @Jason]

What a stupid response from Gavin

You should be asking whistleblowers to DM you any fraud in the state — not trying to out/kink shame or whatever this juvenile tweet is @GavinNewsom

If you see fraud in Californian DM it to @RoKhanna — his DMs are open and he’s looking for it

[Nikita Malinovsky @nikitamalin]

@lennysan @pmarca Congrats on having him! Is he still volunteering with the U.S. government, and what are his reflections on working there?

[Garry Tan @garrytan]

I know someone is going to make this go viral. So I might as well. Yes, I did donate to Ro Khanna.

He made a lot of promises and he came through on none of them and now he is playing culture war politics to try to become president.

He lied to us. Sorry I made a mistake.

[Garry Tan @garrytan]

94% of Ro Khanna’s contributions came from outside his district (CA-17). Only 5% came from within District 17, while over $9M came from out of district.

He has become a hard leftist Congressman, abandoning the 56% Asian American immigrants who he supposedly is supposed to represent.

We want economic mobility and he is about to bring down the hammer destroying tech and jobs. I grew up in Fremont. I learned to code there. My parents bought their first home there. This is not what the people of CA-17 want. The aunties and uncles don’t want Ro. And they’re tired of him.

He is selling out our immigrant communities to role play as a hard leftist in DC, to play culture war games, to vilify businesspeople.

For what? For his aspirations for higher office. He forgot his community. And people who forget they are in public service to their community get removed from public office.

[NASA Administrator Jared Isaacman @NASAAdmin]

@mmealling @rookisaacman We are going to build a Moon base

[NASA Administrator Jared Isaacman @NASAAdmin]

Our number one priority: American leadership in the high ground of space. 🇺🇸

- return to the Moon 🌕
- establish an enduring presence 🧑‍🚀
- realize scientific, economic, national security value 🧫
- make investments in nuclear power 🔋
- strengthen the orbital economy 💵
- increase the rate of world-changing scientific discovery 🔬

All of this is laid out in President Trump’s national space policy, and we’re gonna get it done.

[Vinod Khosla @vkhosla]

You are so wrong Ro. Top prospects for generating wealth in the state will almost certainly leave the state. Every advisor would advise every enterprise that gets big momentum to have key people relocate to another state. Even people who don’t expect this initiative to pass are still planning to leave because there will be another one is the argument. And California will lose its most important tax payers and net off much worse. Long term damage unless legislature bans wealth taxes. Easier to equalize taxes on work income and capital gains at the national level.

[Palmer Luckey @PalmerLuckey]

But you don't actually oppose capital gains on unrealized income. You support this initiative. It is completely disingenuous to claim one position while campaigning for the opposite.

You are fighting to force founders like me to sell huge chunks of our companies to pay for fraud, waste, and political favors for the organizations pushing this ballot initiative. I made my money from my first company, paid hundreds of millions of dollars in taxes on it, used the remainder to start a second company that employs six thousand people, and now me and my cofounders have to somehow come up with billions of dollars in cash.

And if we can't, the state is going to seize my home and garnish my wages for the rest of my life. One market correction, nationalization event, or prohibition of divestiture (not at all uncommon during wartime) and I am screwed for life. But hey, at least you oppose that in some purely abstract and hypothetical way that doesn't influence what you are actually doing.

[Sheel Mohnot @pitdesi]

Are you trying to represent your constituents, or somewhere else?

America’s role as a global leader in innovation has been a huge win for working and middle-class families across the country.

It has created higher-paying jobs, lower prices through competition, and entirely new industries that simply did not exist a generation ago. Policies that slow innovation do not protect workers... they freeze the economy in place and lock people out of opportunity. If you care about working families, you should be focused on enabling growth, not restricting it.

[david friedberg @friedberg]

why not just raise income tax rates?

because your real intent is not to just “provide healthcare”.

you’re masking that you are proposing the creation of, for the first time in the 250 years of this American republic, an organized government seizure of private property from citizens.

you’re calling it a “wealth tax” or a “billionaires tax” or “millionaires tax” or whatever nom du jour polls well. but at the end of the day, it’s the seizure of private property from citizens by the government. citizens that earned money, paid their fair taxes on those earnings (53% if they live in California) and are now being told they need to hand over after-tax assets because the government has failed to provide promised services with the revenue it’s collected, and are now re-casting their own failure to be a socio-economic inequity that must be justly resolved... a slippery slope that has never gone anywhere good (see economic effects in USSR, Cuba, Venezuela, France and Norway wealth tax etc.)

the American founders fled tyranny in Europe and this amazing nation was populated by immigrants (myself and your parents) from around the world not just looking for a “better life” but for a place where they could have freedom from tyrannical governments that can take what they want from private citizens. a great nation borne of property rights, the rule of law, and endowed freedoms to believe, speak, or act. these principles led to the greatest run of innovations, successes, and widespread increase in prosperity, for all citizens, ever seen.

the citizens, the individuals, not the institutions, delivered this progress. those who invented, who toiled, who bled, who sacrificed, who took risk and persevered, who led, and who changed the world, are not charlatans, kleptocrats, or oligarchs. they’re what made us all better off. prosperity is a measure of america’s success, not its failure.

it is your principle that is so offensive, as evidenced by the broad disdain for your flippant flirtation with the darkest of human fantasy - socialism. you and other neo-socialists have led so many of us to reflect on America’s history and what it is becoming. that now leads so many to consider, so unnecessarily, leaving their homes for a place where everyone stands up to shout down the principle you suggest. because if your ideas are now considered moderate, it’s clear this titanic is sinking.

that a “simple tax” of taking assets that have been earned, through toil and tribulation, rightly taxed, and preserved, should now be unjustly seized, is your solution to a problem of obvious government mismanagement and outright fraud, tells us that your true motivation lies not in giving people healthcare but in cutting down success and deleting the system of prosperity and opportunity for all.

i don’t care, and neither should anyone else, what the sum total market value of a private citizens private assets might be. it is none of my business and should be none of yours. because, again, once you open that pandora’s box, we might as well study Lord of the Flies … there is literally nothing stopping 51% of citizens demanding that their government go out and seize 100% of the private property of the 49%.

want to give healthcare to people in need? do your job and fix healthcare. make it affordable. want to be lazy about it? then do your job lazily and raise income taxes.

want to take private property from private citizens who have paid their fair share of taxes and legally earned their property, then honestly declare that it is envy, not inequity, that you strive to resolve…

[@jason @Jason]

.@RoKhanna since you believe in the wealth tax, would you start us off with a voluntary accounting of your entire net worthy and assets, then give five percent to the state of California?

Please lead by example 🫡