Chamath Palihapitiya

Right.

Someone doesn't want to get caught.

I'm not saying he's a criminal, but... No, this is to government spending what the ban on voter ID is to elections.

Why wouldn't... You only do that.

You're banning the thing that helps you catch the fraud.

Yeah.

So why would you ever do that unless you want the fraud to happen?

But California, the budget's $350 billion, by far the biggest.

It has doubled in the last decade.

And it's like three times per capita.

Two and a half times the inflation rate, okay?

And they're still running a huge deficit.

And that's why they're now driving all the job creators out of the state with this proposed asset seizure.

If they just clamp down on the fraud, they wouldn't have this hole in their budget.

This is a private company.

Yeah.

But your point is, look, when no one is minding the store, bad things are going to happen.

And when no one has minded the store for decades and the government's paying for it, you don't even have that private sector profit motive to basically be efficient.

Then think about how the fraud just metastasizes.

It's got to be 20, 30 percent.