Ro, thatโs insane.
You want the state to loan money to the founder, who will then immediately give it back to the state as a wealth tax ?
Meaning the state has not received any incremental receipts? Whatโs the point of that ?
Unless of course you want the gov to own shares (something I thought you criticized) and possibly have control, of companies who underperformed, (or the funding market changed), and couldnโt pay back their loans over those 10 years ?
And Iโm sure the investors in those companies will be thrilled about their new partners. That will make for interesting board meetings. โTodayโs first topic is trying to figure out how to motivate the founder(s). They just lost $250m of their shares in the company they founded, to the state of California. Anyone got any ideas ? โ
But at least itโs amazing for stateโs brand.
โCali, You make it. We take it !โ
Come on Ro.
Ideology is not a strategy.
@GavinNewsom