Venture Capital and Crypto Billionaires Quietly Bankroll Opposition to California's Wealth Tax

Summary

Prominent venture capitalists and crypto billionaires, including Peter Thiel, Chris Larsen, Sergey Brin, and John Doerr, are funding political action committees to oppose California's proposed Proposition 40, a one-time wealth tax on billionaires. The tax, estimated to raise $100 billion over five years for healthcare and education, has sparked debate about its potential impact on founders and investors in the state.