Chamath Palihapitiya

So California collects about $10,319 per taxpayer, whereas Texas $5,469, Florida $4,914.

So there's not an issue here of California...

not collecting enough taxes.

The issue is all on the spending.

And on that front, the California budget has doubled over the past decade while the population stayed flat.

And in fact- And services got worse.

Services got worse.

Test scores got worse.

Crime prevention and enforcement got worse.

Where's it going?

They let convicts out of jails.

Everything's gotten worse.

Where's the money going, Zach?

Say the word.

It's going to these government worker unions who have accumulated too much political power.

Look, you go all the way back to FDR and he was opposed to you, even though he was a four unions, he was opposed to government workers unions because he thought they would accumulate too much political power and they elect the politicians and then the politicians are the ones paying them.

So they just end up extracting more and more and more iteratively with every election cycle.

The reality is that a lot of it is the pension obligations.

You can work for the state for 20 years, retire in your 40s, and you basically, what, you get like 90% of your wage for the rest of your life.

It doesn't work.