Boston seizes on California billionaire tax to lure AI jobs
- 12 hours ago
- 1 min read
BLOOMBERG — The higher concentration of investors in California, particularly those focused on early-stage funding, is a major motivator to go west, founders say. The gulf between VC funding raised in California and Massachusetts more than quintupled between 2005 and 2025.
That calculus could change if California moves ahead with a proposed one-time 5% wealth tax on individual assets of more than $1 billion, mainly to fund healthcare. The measure, headed for the November ballot, would be especially painful for startup founders who have yet to realize the value of their businesses through an acquisition or a public offering, said Ankit Gupta of Y Combinator.
Read the full story | BLOOMBERG
