Tech billionaires are making plans to bail on California ahead a possible ballot measure that would tax their assets to help pay for healthcare.
Sources told the New York Times that venture capitalist Peter Thiel has explored spending more time outside California and opening an office for his Los Angeles-based personal investment firm, Thiel Capital, in another state.
Brilliant classic example of exception proving the rule. Both NFTs and the 2008 crash were caused by a massive lack of fundamentals, not irrational shareholder panic based on a few unknown selloffs, so the fact that those are the examples you came up with of big crashes just shows how weak the original claim was.
Apart from anything else, it doesn’t even stand on its own terms - if billionaires were required to pay wealth tax bills, then there wouldn’t be any mystery as to why they were selling their shares.