Chamath Palihapitiya, GP @ Social Capital
California's $4.3T economy masks critical structural vulnerabilities: 1% of taxpayers generate 37% of income-tax revenue through volatile capital gains, while $150B+ in constitutionally mandated spending and $302B in long-term liabilities constrain fiscal flexibility. A detailed audit examines reserve depletion timelines, revenue cliff risks, and pension shortfalls.
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Topics: Government & Public Sector · Venture Capital & Startups · Fintech
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