"For some time, after World War II, it looked like extreme wealth belonged to the past and that we could forget this problem. But as the AI boom is minting billionaires by the day and the first trillionaires are now coming into view, we cannot ignore it anymore." 2/3
So much tech money flowing into CA politics.
Crypto boss Chris Larsen spent $1M on the state insurance commissioner primary. Sergey Brin spent $66M to fight the wealth tax. Larsen, Google & Meta have thrown millions to local campaigns in the state legislature.
www.theguardian.com/us-news/2026...
I looked into whether tech billionaire big spending paid off in the California primaries. And, well, it did.
Despite the Matt Mahan loss, the industry came out ahead in smaller races up and down the ballot -- especially in state legislature races.
www.theguardian.com/us-news/2026...
"The battle between democracy and oligarchy will be the defining battle of the 21st century." 3/3
www.theguardian.com/science/2026...