California’s proposed ‘billionaire tax’ fails to pass

California voters rejected Proposition 40, the one-time 5% tax on billionaires, the AP reported Monday. Tech leaders outspent backers roughly 10 to 1 to defeat it, and the founders and economists TechCrunch interviewed before the vote were split on whether it would have driven out wealthy residents or just trimmed their fortunes.

More in Startups

Ring, known for its doorbell cameras, launches a home security drone and an enterprise security robot November 10, 2026 Cyberattacks threaten to make open-source AI a little less open, Hugging Face exec warns  November 10, 2026 Otter AI can now follow conversations across 30+ languages November 10, 2026 Jensen Huang’s alleged honeypot scandal has inspired some top-notch memes November 10, 2026 Anthropic reportedly plans to move forward with IPO plans November 10, 2026 Jensen Huang reportedly engaged a PR firm with a history of handling high-profile sex scandals a year ago November 9, 2026

See all 114 in Startups →

Latest News

Row over DUP bid to veto Irish education bill November 10, 2026 பில்லியனர்கள் பட்டியலில் பந்தாடப்படும் ஜென்சன் ஹுவாங்.. டாப் 10 பட்டியவில் எக்சிட்! November 10, 2026 கள்ள உறவால் ஜென்சன் ஹுவாங் மனைவிக்கு ஜாக்பாட்.. 155 பில்லியன் டாலர் சொத்தில் பாதி ஜீவனாம்சம்..! November 10, 2026 Ring, known for its doorbell cameras, launches a home security drone and an enterprise security robot November 10, 2026 Ring’s Indoor Home Security Drone Is Finally Here (We Think) November 10, 2026 Kompany returns to Bayern training ground for first time since collapse November 10, 2026