Peak California
10th March 2019
There are three related problems that make California economically tenuous, and a fourth that makes the situation worse:
- It’s no longer the best place in the world to start a startup.
- The gains from the existing tech industry increasingly accrue to a) passive investors, and b) lucky landlords.
- The state government is a levered bet on tech compensation.
- These three problems, which are interrelated, won’t show visible symptoms until well after they’re terminally un-fixable.