Jan 17, 2026
BREAKING: The money hasn’t just left; it was pushed out. It’s not just about “High Taxes.” California has quietly activated a legislative “Kill Switch” for startups known as the Class B Share Valuation clause.
This technicality forces founders like Larry Page (Google) and Andy Fang (DoorDash) to pay taxes on “Voting Power” as if it were liquid cash—a mathematical impossibility.
The result? To pay the bill, they would have to sell their companies. So they did the only logical thing: They fled the state. Governor Newsom is now facing a massive budget deficit as the top 1% of taxpayers—who pay 50% of the state’s bills—move their assets to Florida and Texas. I’m Dana Sterling, and this is Maddow News.