At what point do California voters finally realize that their Democratic Party leaders have abandoned trying to enforce the rule of law and shout “Enough!”?
Video of a shocking smash and grab robbery shows the moment a Sunnyvale jewelry store is overwhelmed by suspects armed with tools and hammers.
The incident took place at PNG Jewelers on Wednesday afternoon. The store is located at 791 E. El Camino Real. Police said at least five people have been arrested, but they are looking for more suspects.
The surveillance video’s timestamp shows the robbery happened just before 12:30 p.m. Well over a dozen suspects, clad in black clothing, barge into the store and begin smashing the glass counters as they ransack the place.
Sunnyvale Department of Public Safety said their officers responded to a report of a robbery in progress and that approximately 20 suspects were involved.
“The suspects fled the store in multiple vehicles before officers arrived on scene. Officers located two suspect vehicles as they were attempting to flee the area,” Sunnyvale DPS said in a news release.
For those unfamiliar with it, Sunnyvale is smack dab in the heart of Silicon Valley, between Mountain View, Cupertino and Santa Clara, and was home to numerous influential companies including Fairchild Semiconductor, Atari and LinkedIn. Homes there list for $2 million and up. El Camino Real is the central “strip” of Silicon Valley, running all the way in to San Francisco where it turns into Mission Street.
Daylight jewelry store robberies were hardly unknown before, but these large mobs of smash-and-grab looting are a direct result of Democrats decriminalizing shoplifting. Even though the haul here is clearly above the $950 limit of Proposition 47, California criminals that have honed their looting skills on smaller value targets are clearly seeking fatter scores, and show no hesitation in branching out to hit targets in affluent cities.
The continued slide of one-party blue California into abject lawlessness is no longer shocking, but it should be. In the name of social justice, Democrats are systemically destroying the underpinnings of ordered, law-abiding society. How long before insurance companies simply refuse to insure retail stores in California, and how soon until high end stores in Silicon Valley go the the way of those in San Francisco and simply close entirely?
If you’re stressing over your taxes, you might be slightly relieved to know that they’re not due until April 18. Thus week: More Blue City violence and decline, lots of Social Justice Warrior backlash, Facebook shows snowflakes the door, and Budweiser commits brand suicide.
“Ex-ABC Senior Producer Who Rolling Stone Covered For Indicted On Child Porn Charges. Former ABC senior producer James Gordon Meek has been indicted on three counts of child pornography nearly one year after the FBI raided his Arlington, Virginia home.”
Something about the apparently random street murder of Silicon Valley tech executive Bob Lee seems to have overturned a crawly rock in San Francisco’s political scene, suggesting a brewing power struggle on the horizon.
On the one hand, we have a very vocally angry Silicon Valley tech community speaking out about the out-of-control crime situation in the city, with the valued and talented Lee’s untimely death from some night creature who crawled out from some sewer or encampment and stabbed him to death, quite possibly in a drug-addled haze. That’s expected if you live in a place full of bums and criminals, but Lee didn’t live in a place full of bums and criminals. He had actually fled the city for Florida based on its engulfing crime and come back only for a brief business trip.
On the other hand, we have a soggy, entrenched political establishment seeking to assure that there’s really no crime problem at all. This is evident enough in the “crime is down” coverage seen in the political establishment’s house organ, the San Francisco Chronicle, and in the surreal statements of the city hall power establishment, which is rooted in special interests, particularly the most powerful one, the homeless industrial complex. I wrote about that here. San Francisco currently spends about as much on homeless “services” as it does on police, and by some studies such as the one cited below, actually more.
Not surprisingly, as per Thomas Sowell’s observation, you can have all the poverty you want to pay for, and San Francisco pays a lot.
The Hoover Institution’s Lee Ohanian has noted:
Spending $1.1 billion on homelessness is just the latest installment in San Francisco’s constant failure to sensibly and humanely deal with an issue that it chronically misdiagnoses and mismanages about as much as is humanly possible. Since fiscal year 2016–17, San Francisco has spent over $2.8 billion on homelessness, and the city’s politicians remain seemingly baffled, year after year, as the number of homeless in the city skyrocket, as opioid overdoses kill more than COVID-19, and as the city has become nearly the most dangerous in the country. https://www.hoover.org/research/why-san-francisco-nearly-most-crime-rid….
Since 2016, the number of homeless in San Francisco has increased from 12,249 to 19,086, which comes out to about $57,000 in spending per homeless person per year. With a total population of about 860,000, roughly 2.2 percent of San Francisco residents are homeless, which is over 12 times the national average. There is little doubt that as San Francisco spends more, homelessness and its impact on the city worsens.
Do the homeless get that $57,000 being spent on them? Of course not. The princelings of the NGO establishments got that money — for themselves. That’s what’s made them politically powerful, enough to call the shots at city hall.
Democrats and Social Justice Warriors view homelessness as a huge profit center, and seek to increase the ranks of the homeless at every opportunity.
Also, an arrest was made in the Lee case and it was a fellow tech guy who knew him. “A tech executive named Nima Momeni was arrested by San Francisco police Thursday morning in the April 4 killing of Cash App founder Bob Lee…Lee and Momeni were portrayed by police as being familiar with one another. In the wee hours of April 4, they were purportedly driving together through downtown San Francisco in a car registered to the suspect.” So not a random gibbering drug-addicted transient.
Speaking of San Francisco street crime, a Whole Food closes one year after opening due to violence and theft.
A St. Louis judge sanctioned St. Louis Circuit Attorney Kim Gardner’s office last week for allegedly withholding evidence in a double-murder case, while allowing the suspect out on bond, amid rising criticism about left-wing prosecutors allowing crime to flourish in major U.S. cities.
Alex Heflin, 23, was held without bond since January after he was initially charged with two counts of second-degree murder and armed criminal action, local media reported. But those charges were recently reduced to involuntary and voluntary manslaughter before he was released, while his April 17 trial has been postponed until June 12.
Judge Theresa Counts Burke ruled in favor of Heflin’s lawyers after they filed a motion accusing a prosecutor under Gardner of violating discovery rules. They alleged that her office did not turn over evidence, including a 911 call recording and DNA evidence.
“The court finds that there have been repeated delays by the state in obtaining discovery and providing it to the defense,” Burke wrote, according to local reports.
“There has been a lack of diligence on the part of the state in following up and providing discovery to the defendant in a timely fashion. As a result of the state’s actions and lack of diligence, the court grants defendant’s second motion for sanctions.”
Under Burke’s order, Heflin will have to remain on GPS monitoring. She also ordered the circuit attorney’s office to hand over their list of witnesses within 24 hours, provide DNA test results within 24 hours, or ask a crime lab for the DNA results.
“Molotov balloons are a ball filled with sulfuric acid, but white strips are a type of paper treated with potassium chlorate and a sugar mix. When the balloon breaks, the acid reacts with the potassium chlorate and sugar, which causes ignition.”
Another girlboss indicted: “Penn grad Charlie Javice, founder of Frank, charged with fraud over $175M JPMorgan deal.” Seems the heart of the indictment is fake users.
Prosecutors and the SEC allege that Javice orchestrated a scheme to deceive JPMorgan into believing that Frank had access to valuable data on 4.25 million students who used the company’s service when in reality the number was less than 300,000.
Prosecutors said when JPMorgan (NYSE: JPM) sought to verify the number of Frank users and the amount of data collected about them, Javice fabricated a data set. She is alleged to have an unnamed co-conspirator who first asked Frank’s director of engineering to create an artificially generated data set. Prosecutors said the director of engineering declined the request after expressing concerns about its legality.
Javice, according to prosecutors, then approached an outside data scientist and hired him to create the synthetic data set — which was then provided to an agreed-upon third-party vendor in an effort to confirm to JPMorgan that the data set had over 4.25 million rows.
Based on that alleged fraudulent data, prosecutors said JPMorgan agreed to buy Frank for $175 million. As part of the deal, the nation’s largest bank hired Javice and other Frank employees. Prosecutors said Javice received over $21 million for selling her equity stake in Frank and, per the terms of the deal, was to be paid another $20 million as a retention bonus.
Prosecutors said as the fabricated data set was being created, Javice and her co-conspirator sought to purchase real data for over 4.25 million college students to cover up their misrepresentations.
Treading the fine line between “fake it until you make it” and “interstate wire fraud.”
Bud light tranny pander wrecks brand. “I’ve never seen such little sales [as] in this past few days.”
More on the collapse of Silicon Valley Bank, Syria gets spicy again, woke companies like Disney are having massive layoffs, and Sig Saur gets into the Killbot business. It’s the Friday LinkSwarm!
Courtesy of Bloomberg’s reporting, it appears that not only were insiders dumping their shares faster than syphilitic hooker, there were loading up on loans from the bank at a scale that makes a mockery of any regulatory oversight…
”
Yes, that’s real.
Loans to officers, directors and principal shareholders, and their related interests, more than tripled from the third quarter last year to $219 million in the final three months of 2022 – a record dollar amount of loans going back over 20 years.
Many questions come to mind – what were the terms, who were the recipients, what was the collateral?
But, sadly, we will likely never know.
However, we do note that the banking execs may be facing a serious shortfall (like their bank): if the loans were collateralized by SVB shares for example, those shares are now worthless, leaving the loan-heavy C-suite left to come up with the cash to repay the loans (and no, these loans don’t disappear with the bank’s liquidation).
Between that and the insider share dumping, people need to go to jail.
After the implosion of the FTX crypto exchange run by Sam Bankman Fried, questions of due diligence and competency immediately arose, suggesting that perhaps the company mishandled assets “accidentally” and that Fried was naive and “in over his head.” Numerous central bank officials and globalist organizations jumped into the debate almost immediately, arguing that FTX was a perfect example of why centralized regulation of crypto and digital currencies was necessary. They claimed that without oversight by banking elites, disaster was inevitable.
Of course, what they did not mention was that FTX and Sam Fried already had extensive connections with globalist groups including the World Economic Forum. In fact, the very basis of Fried’s business model was the WEF’s “Stakeholder Capitalism” theory, which he often referred to as “Effective Altruism.”
Stakeholder Capitalism is essentially the opposite of free markets – It is a socialist/globalist framework which uses corporations as a kind of economic enforcement tool. Corporations are already highly socialistic in their operations, and their existence is completely dependent on their special relationship with government. Corporations are created through government charter, enjoy special protections under “corporate personhood” laws and avoid direct consequences for criminal activities through limited liability.
Many corporations are not even allowed to fail because governments backstop their operations. That’s socialism, not free markets. However, “stakeholder capitalism” expands on this dynamic a hundred-fold.
Where free markets assert that businesses must make profit their primary objective for the overall economy to function, the WEF asserts that companies including banking institutions have a social obligation that goes beyond making money. To the typical leftist this probably sounds like a Utopian vision filled with promise, but to anyone that actually understands economics it sounds like a recipe for the collapse of civilization.
The WEF paints stakeholder capitalism an effort to reign in the power of the corporate system in favor of social causes. In reality, it’s a way to give corporations ultimate power over everything, including ultimate influence over public behavior.
We have seen extensive evidence of this through widespread corporate ESG investment programs implemented in the past several years. It is no coincidence that the invasion of woke ideology into the mainstream happened at the exact same time that ESG-based lending accelerated.
The institutions lending to various companies were able to set social rules for access to credit, and these rules required businesses to adopt far-left politics in their marketing and policies as a result. Stakeholder capitalism is about homogenizing all business into a single ideological entity – Instead of competing with each other for market share through innovation, companies have been abandoning merit based competition and are colluding to saturate the mainstream with social justice cultism, climate change propaganda and globalist rhetoric.
By making corporate elites “responsible” for society, we give them the power to engineer society.
However, the WEF’s model of false altruism is turning out to be a disaster for corporate survival. I have to wonder now if this was the intent all along – To create a kind of ESG fueled woke financial bubble that was always intended to come crashing down, leaving the western world in ruins.
Snip.
Looking into SVB’s operational history, the company was a woke nightmare.
Take a gander at their 66 page ESG report compiled in 2021 to get a sense of how far to the extreme political left the bank was. SVB is the pinnacle example of why “Get Woke, Go Broke” is more than a mantra, it’s a rule.
Digging even deeper we then find that SVB’s leadership was highly involved in the WEF and their Stakeholder Capitalism Metrics (SCM), along with corporate governance. SVB was not only implementing every single policy the WEF outlines in its agenda, they were reporting back to the WEF on their progress.
SVB’s capital exposure was heavily tied up in securities, but also venture capital for woke tech startups, climate change related projects and leftist activist groups which qualified for ESG loans; everything from BLM to Buzzfeed. In other words, they were investing aggressively into money-pit projects that devoured cash and gave nothing back. The real question is, how many US banks are involved in ESG and WEF operations at the same level as SVB? Dozens? Hundreds?
“U.S. Carries Out Airstrikes in Syria after Iranian Drone Kills U.S. Contractor, Wounds Five Service Members.” As I’ve mentioned before the withdrawal of most U.S. troops from Iraq and Syria doesn’t mean all. And the same goes for Africa.
“56% of liberal white women age 18-29 have been diagnosed with a mental health condition.” Well, you already said “liberal”…
Louisiana state Rep. Francis Thompson switched from the Democratic to the Republican Party, given Republicans a super-majority in both houses and thus the ability to override any veto by Democratic Governor John Bel Edwards. ““The push the past several years by Democratic leadership on both the national and state level to support certain issues does not align with those values and principles that are a part of my Christian life,” said Thompson.
World Athletics, the governing body for international track and field competition, has banned men from international competition. “I’ll take ‘Headlines no one in the 20th century would understand’ for $600, Alex.”
“Dallas Bar Cancels All-ages Drag Event.” Funny how the threat of having your TABC license yanked concentrates the mind…
Get Woke, Go Broke Part 1: After a string of expensive bombs and streaming losses, Disney to lay off 7,000 employees.
Get Woke, Go Broke 1.5: “Woke Marvel Producer Victoria Alonso Gone From MCU.” She was one of the central figures pushing Disney to adopt a pro-groomer position in Florida. The ostensible reason for her firing was breach of contract for producing a non-Marvel movie, but a lot of industry insiders think her outspoken wokeness was a key reason for her getting the axe.
Get Woke, Go Broke Part 2: “Twitch Streaming Service To Sack 36% Of Employees.”
SIG Sauer announced late last week it has acquired General Robotics, one of the world’s premier manufacturers of lightweight remote weapon stations and tactical robotics for manned and unmanned platforms as well as anti-drone applications. The companies have been working in concert for some time, a fact made obvious at January’s SHOT Show when they debuted a Polaris ATV equipped with a General Robotics PitBull remote weapons station that aimed and fired the vehicle-mounted SIG MG 338 belt-fed machine gun remotely.
“This acquisition will greatly enhance SIG Sauer’s growing portfolio of advanced weapon systems,” said Ron Cohen, president and CEO of SIG Sauer. The team at General Robotics is leading the way in the development of intuitive, lightweight remote weapon stations with their battle-proven solution.”
I wasn’t planning on writing more about the collapse of Silicon Valley Bank, but too much info has been coming down the pike to ignore. Plus, I found the video below, and felt I had to share it.
A newly published database from the Claremont Institute has revealed that the since-collapsed Silicon Valley Bank donated or pledged to donate nearly $74 million to the Black Lives Matter movement and related causes.
In an August 2020 Diversity, Equity & Inclusion report, SVB declared “we are on a journey committed to increasing diversity, equity and inclusion (DEI) in our workplace, with our partners and across the innovation economy.”
The bank revealed that they had donated $1.6 million to “causes supporting gender parity in innovation,” as well as $1.2 million to support “opportunities for diverse, emerging talent in innovation.”
In SVB’s 2021 Proxy Statement, the bank wrote in relation to racial and social equity that “the calls to end systemic racial and social inequities following the murder of George Floyd in May 2020 had a profound global impact.”
“We responded by expanding opportunities for dialogue, including hosting over 40 small group ‘Conversation Circles’ in which over two thirds of our employees participated in discussions about racial equity issues.”
The statement continued to say that the bank’s “DEI-focused ‘town hall’ meetings for employees were in response to our recognition of the need for greater transparency and dialogue around the racial representation of our workforce and the innovation ecosystem.”
In addition, the bank, provided “opportunities for action, mobilizing our employees and clients to join in community service through Tech Gives Back, a week of volunteer events focused in part on racial equity, social justice and access to the innovation economy,” and partnered with “Act One Ventures to launch The Diversity Term Sheet Rider for Representation at the Cap Table initiative, which advocates for venture capital firms to include in all of their term sheets a pledge to bring members of underrepresented groups into deals as co-investors.”
A 2020 letter from CEO Greg Becker stated, “In recent months, we’ve expanded our philanthropic giving through corporate donations and employee matching programs. These programs focus on pandemic response, social justice, sustainability and supporting women, Black and Latinx emerging talent and other underrepresented groups. You’ll find examples of these programs in this report, ranging from workforce development to affordable housing.”
In 2020, the bank launched its Missions program, “a software platform designed to engage employees to act in support of the causes they care about most such as voter education and racial justice and equity,” which saw employees donate $400,000 for “justice and equity for Black Americans.”
According to the Claremont Institute, an additional $250,000 was allocated by the SVB Foundation to support grants for social justice organizations including the NAACP, ACLU, and National Urban League.
SVB additionally partnered with 44 organizations focused on furthering DEI in innovation and invested in relationships with historically black colleges and universities, and hosted internships and provided tuition assistance for students from “underserved communities.”
In a Corporate Responsibility Report from 2021, SVB pledged to donate $50M in its diversity and inclusion programs and partnerships, “with a focus on women, Black and Latinx individuals.”
In May of 2021, SVB announced a proposed five-year, $11.2 billion community benefits plan in collaboration with The Greenlining Institute, an M4BL, or Movement For Black Lives, member. The Claremont Institute wrote that “that plan includes $75M in unspecified charitable contributions (also not included in our total).”
Social Justice is bad enough by itself, but it’s also a marker for those incapable of thinking clearly enough to focus clearly on their main jobs.
And now this video, which slams “Stupid Valley Bank” for its egregious stupidity and slams It’s Pat, which is these days is almost like a Hispster move (“It’s a pretty obscure bad movie, you’ve probably never heard of it”).
The more I hear about the Silicon Valley Bank collapse mentioned in Friday’s LinkSwarm, the worse it sounds.
I saw a snippet of Gary Tan, CEO of startup fund Y Combinator, talking about how bad it is. I can’t find a video of the full interview online, but evidently it was excerpted on Bannon’s War Room podcast and there’s a transcript.
[Interviewer]: How many of these startups that have been through Y Combinator, for example, have their cash tied up at Silicon Valley Bank? And over this weekend, I’m gonna try to figure out how they’re gonna make payroll next week. Do they have to go to investors and say, can you front me some cash so that we can stay alive?
[Tan]: We have funded about 3,000 active startups right now. I would guess that this affects more than 1,000 startups. And about a third of those startups will not be able to make payroll in the next 30 days in the current configuration. As of this morning, RIPLING, which many startups use to manage payroll and benefits, transfers were not being processed by SVB for payroll.
And so that’s a really existential threat for companies broadly. These are founders who are texting me and calling me saying, do I need to furlough my workers next week? Because I do not have other bank accounts, you know, a Google or a Facebook or even companies farther along with a Treasury Department. They’re going to be able to weather this, but if SVB is your only bank, it’s actually an existential risk. You’re going to go out of business if you can’t pay payroll. And that starts Monday.
That transcript also has this sobering figure: “97% of the deposits at Silicon Valley Bank. 97% are not insured by FDIC because they’re in accounts over $250,000. These company accounts that would be $169 billion.”
So what was Silicon Valley Bank doing rather than properly managing their risk profile? Banks have Chief Risk Officers whose job is to make sure their risk exposure ratios don’t get out of whack. Well, guess what? SVB didn’t have one for some nine months. “SVB’s former head of risk, Laura Izurieta, who formerly performed a similar role for Capital One, left the bank in April 2022. She wasn’t replaced until January 2023 when the bank hired Kim Olson, formerly of Japanese bank Sumitomo Mitsui.”
But don’t worry: SVB had CRO for the bank in Europe, Africa and the Middle East who was entirely focused…on Social Justice and ESG.
Jay Ersapah, who acts as CRO for the bank in Europe, Africa and the Middle East and who describes herself as a ‘queer person of color from a working-class background’ – organized a host of LGBTQ initiatives including a month-long Pride campaign and implemented ‘safe space’ catch-ups for staff.
In a corporate video published just nine months ago, she said she ‘could not be prouder’ to work for SVB serving ‘underrepresented entrepreneurs.’
Professional network Outstanding listed Ersapah as a top 100 LGTBQ Future Leader.
‘Jay is a leading figure for the bank’s awareness activities including being a panelist at the SVB’s Global Pride townhall to share her experiences as a lesbian of color, moderating SVB’s EMEA Pride townhall and was instrumental in initiating the organization’s first ever global “safe space catch-up”, supporting employees in sharing their experiences of coming out,’ her bio on the Outstanding website states.
It adds that she is ‘allies’ with gay rights charity Stonewall and had authored numerous articles to promote LGBTQ awareness.
These included ‘Lesbian Visibility Day and Trans Awareness week.’
Separately she was also praised in a Facebook post by the group ‘Diversity Role Models,’ a charity which campaigns against homophobic, biphobic and transphobic bullying in UK schools.
Being in Silicon Valley, I’m betting that the entire company was whole hog backing DEI, ESG, Transwhatever and the entire rainbow of victimhood identity politics acronyms.
In a strong economy, you can get away with a bit of shareholder-value-destroying, virtue-signaling luxury goods as long as your core business is strong. But with rising interest rates, Biden Inflation, the Biden Recession and the gale winds of deglobalization, taking your eye off the ball to focus on anti-reality SJW garbage is a recipe for disaster.
And all the startups that relied on SVB for their banking are well and truly screwed.
Update: Uncle Sugar is evidently going to make all depositors whole at both SVB and newly insolvent Signature Bank. This relatively early intervention may indeed be the best move to prevent bank runs at other institutions, and may reflect a change in philosophy since 2008. (It’s a thorny subject.) But it does make me think that a lot of well-connected depositors were screaming in the ears of Washington to be made whole at the taxpayer’s expense. What do you think the odds are that the same consideration wouldn’t be given to, say, a Texas bank that specialized in underwriting oil and gas ventures?
Mutiny! Bank runs! Twitter files! It’s a ginormous LinkSwarm full of interesting (and alarming) links!
And I finally get a chance to talk more about the FTX scandal.
The Twitter files revelations continue to roll out. And Democrats aren’t happy that the workings of their thought police apparatus are being unmasked.
As one might expect, the Judiciary hearing on the “weaponization” of federal agencies, featuring Matt Taibbi and Michael Shellenberger as witnesses was full of fireworks, facts, and ad hominem friction.
Out of the gate, Ranking Member Democratic Del. Stacey E. Plaskett labeled the two “so-called journalists” as dangerous and a “threat” to former Twitter employees.
She claimed that Republicans brought “two of Elon Musk’s ‘public scribes'” in “to release cherry-picked out-of-context emails and screenshots designed to promote his chosen narrative – Elon Musk’s chosen narrative – that is now being parroted by the Republicans” for political gain.
“I’m not exaggerating when I say you have called two witnesses who pose a direct threat to people who oppose them,” Plaskett said after the video.
Chairman of the House Judiciary Committee, Republican Rep. Jim Jordan of Ohio, had a simple response to her accusations:
“It’s crazy what you were just saying.”
“You don’t want people to see what happened,” Jordan continued.
“The full video, transparency. You don’t want that, and you don’t want two journalists who have been named personally by the Biden administration, the FTC in a letter. They say they’re here to help and tell their story, and frankly, I think they’re brave individuals for being willing to come after being named in a letter from the Biden FTC.”
Taibbi was having none of it.
Matt Taibbi epic comeback:
"Ranking Member Plaskett, I'm not a 'so-called journalist'. I've won the National Magazine Award, the I.F. Stone Award for Independent Journalism, and I've written 10 books including 4 NYT Best Sellers." pic.twitter.com/crXlWjScEr
— Citizen Free Press (@CitizenFreePres) March 9, 2023
As Glenn Greenwald chimed in from Twitter: “To Democrats, “journalist” means: one who mindlessly and loyally endorses DNC talking points. ”
Unshaken, Matt Taibbi continued, when he was allowed to respond, laid out what he and Shellenberger had found in their research of The Twitter Files:
“The original promise of the Internet was that it might democratize the exchange of information globally. A free internet would overwhelm all attempts to control information flow, its very existence a threat to anti-democratic forms of government everywhere,” Taibbi said.
“What we found in the Files was a sweeping effort to reverse that promise, and use machine learning and other tools to turn the internet into an instrument of censorship and social control. Unfortunately, our own government appears to be playing a lead role.”
Taibbi pointedly added that “effectively, news media became an arm of a state-sponsored thought-policing system.”
“It’s not possible to instantly arrive at truth. It is however becoming technologically possible to instantly define and enforce a political consensus online, which I believe is what we’re looking at.”
Democrats only response to Taibbi and Shellenberger’s facts was to get personal…
Snip.
As we detailed earlier, journalists Matt Taibbi and Michael Shellenberger are testifying before the House Judiciary Committee’s Select Subcommittee on the Weaponization of the Federal Government today. Both journalists were involved in the ‘Twitter Files’ disclosures, in which we learned that the government was directly involved in censoring disfavorable speech.
“Our findings are shocking,” writes Shellenberger at his blog. “A highly-organized network of U.S. government agencies and government contractors has been creating blacklists and pressuring social media companies to censor Americans, often without them knowing it.”
Ahead of the appearance, Taibbi released his prepared remarks. He also dropped a new and related Twitter Files mega-thread on ‘THE CENSORSHIP-INDUSTRIAL COMPLEX’ which will be submitted to the Congressional record which, according to Taibbi, ‘contains some surprises.’
But Twitter was more like a partner to government. With other tech firms it held a regular “industry meeting” with FBI and DHS, and developed a formal system for receiving thousands of content reports from every corner of government: HHS, Treasury, NSA, even local police…
But equally concerning was how those driving The Narrative used NGOs that agreed with them as Arbiters of Truth.
We came to think of this grouping – state agencies like DHS, FBI, or the Global Engagement Center (GEC), along with “NGOs that aren’t academic” and an unexpectedly aggressive partner, commercial news media – as the Censorship-Industrial Complex.
Who’s in the Censorship-Industrial Complex? Twitter in 2020 helpfully compiled a list for a working group set up in 2020. The National Endowment for Democracy, the Atlantic Council’s DFRLab, and Hamilton 68’s creator, the Alliance for Securing Democracy, are key…
Twitter execs weren’t sure about Clemson’s Media Forensics Lab (“too chummy with HPSCI”), and weren’t keen on the Rand Corporation (“too close to USDOD”), but others were deemed just right.
NGOs ideally serve as a check on corporations and the government. Not long ago, most of these institutions viewed themselves that way. Now, intel officials, “researchers,” and executives at firms like Twitter are effectively one team – or Signal group, as it were:
The Woodstock of the Censorship-Industrial Complex came when the Aspen Institute – which receives millions a year from both the State Department and USAID – held a star-studded confab in Aspen in August 2021 to release its final report on “Information Disorder.”
The report was co-authored by Katie Couric and Chris Krebs, the founder of the DHS’s Cybersecurity and Infrastructure Security Agency (CISA). Yoel Roth of Twitter and Nathaniel Gleicher of Facebook were technical advisors. Prince Harry joined Couric as a Commissioner.
Why the fuck is Prince Harry on a committee deciding how free American citizens should be censored?
Their taxpayer-backed conclusions: the state should have total access to data to make searching speech easier, speech offenders should be put in a “holding area,” and government should probably restrict disinformation, “even if it means losing some freedom.”
Snip.
The same agencies (FBI, DHS/CISA, GEC) invite the same “experts” (Thomas Rid, Alex Stamos), funded by the same foundations (Newmark, Omidyar, Knight) trailed by the same reporters (Margaret Sullivan, Molly McKew, Brandy Zadrozny) seemingly to every conference, every panel.
The #TwitterFiles show the principals of this incestuous self-appointed truth squad moving from law enforcement/intelligence to the private sector and back, claiming a special right to do what they say is bad practice for everyone else: be fact-checked only by themselves. While Twitter sometimes pushed back on technical analyses from NGOs about who is and isn’t a “bot,” on subject matter questions like vaccines or elections they instantly defer to sites like Politifact, funded by the same names that fund the NGOs: Koch, Newmark, Knight.
#TwitterFiles repeatedly show media acting as proxy for NGOs, with Twitter bracing for bad headlines if they don’t nix accounts. Here, the Financial Times gives Twitter until end of day to provide a “steer” on whether RFK, Jr. and other vax offenders will be zapped.
Well, you say, so what? Why shouldn’t civil society organizations and reporters work together to boycott “misinformation”? Isn’t that not just an exercise of free speech, but a particularly enlightened form of it?
The difference is, these campaigns are taxpayer-funded. Though the state is supposed to stay out domestic propaganda, the Aspen Institute, Graphika, the Atlantic Council’s DFRLab, New America, and other “anti-disinformation” labs are receiving huge public awards.
Meant to cover this back in February, but FTX founder Sam Bankman-Fried, in additional to all those federal fraud charges, was charged with “12 new counts, including illegally making over 300 political contributions to the tune of tens of millions of dollars through straw donors and using corporate funds.” The overwhelming majority went to Democrats and left-leaning causes. “Bankman-Fried was the second largest individual donor during the 2022 US midterm elections, contributing $39 million to various Democrat causes.” Also: “FTX’s former CEO wanted to give at least $1 million to a pro-LGBTQ political action group, but couldn’t find anyone bisexual or gay at the company whom he trusted, the document said.”
Speaking of Bankman-Fried: “The previously sealed names of two people who co-signed Sam Bankman-Fried’s $250 million bail package have been publicly released. The guarantors were identified in the unredacted bonds as Andreas Paepcke, a Stanford research scientist, and Larry Kramer, former dean of Stanford law school…How the fuck did these Stanford faculty members get so rich as to guarantee that size of a bail?”
Speaking of crypto, Silvergate, a California bank that was a heavy player in the crypto space, is shutting down and liquidating after huge bank runs in the crypto-winter. Want to guess who was a big booster of Silvergate? Would you believe Sam Bankman-Fried?
When China began to require Western corporations to establish Chinese Communist Party (CCP) cells, businesses brushed off the move as benign. For example, when HSBC HBA 0.0% became the first international financial institution at which workers established a Chinese Communist Party cell in its investment banking venture in China in July, the bank stated that the CCP committee does not influence the direction of the firm and has no formal role in its day-to-day activities. But the CCP may have begun to flex its muscle in other ways. This week, the CCP cell inside the Beijing office of Big Four accounting firm EY demanded that party members wear CCP badges at work in the run-up to China’s annual parliamentary meetings.
Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect insured depositors, the FDIC created the Deposit Insurance National Bank of Santa Clara (DINB). At the time of closing, the FDIC as receiver immediately transferred to the DINB all insured deposits of Silicon Valley Bank.
All insured depositors will have full access to their insured deposits no later than Monday morning, March 13, 2023. The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors.
Silicon Valley Bank had 17 branches in California and Massachusetts. The main office and all branches of Silicon Valley Bank will reopen on Monday, March 13, 2023. The DINB will maintain Silicon Valley Bank’s normal business hours. Banking activities will resume no later than Monday, March 13, including on-line banking and other services. Silicon Valley Bank’s official checks will continue to clear. Under the Federal Deposit Insurance Act, the FDIC may create a DINB to ensure that customers have continued access to their insured funds.
As of December 31, 2022, Silicon Valley Bank had approximately $209.0 billion in total assets and about $175.4 billion in total deposits. At the time of closing, the amount of deposits in excess of the insurance limits was undetermined. The amount of uninsured deposits will be determined once the FDIC obtains additional information from the bank and customers.
SVB was a bank that primarily counted venture capital firms and technology startups as clients. It achieved financial stardom during the COVID-19 pandemic because major cash deposits from the booming firms increased its deposits from $60 billion in the first quarter of 2020 to over $200 billion in December 2022, the Wall Street Journal reported. Its securities portfolio rose from roughly $27 billion in 2020’s first quarter to approximately $127 billion at the end of 2021.
The fact that most of SVB’s assets were seemingly secure — they were mainly longer-term government bonds — led many investors to feel the bank was secure. Those feelings would be dashed in just two days. The bank suddenly announced Wednesday that it needed to raise over $2.2 billion, sending its stock plunging by more than 60% in a matter of days.
The government securities bought by SVB pay a fixed rate, so when market interest rates were raised, a gap began to grow between how much the securities were worth on the open market and what they were valued on the bank’s books. The unrealized losses in SVB’s securities portfolio in December had grown to more than $17 billion, a number expected to grow, as the securities could only be sold at a loss.
Crack the whip: unacceptable because of origins in slavery
Waiter or waitress: server should be used instead
Biological gender, biological sex, biological woman, biological female, biological man, or biological male
Illegal immigrant or illegal alien
Cake walk: “originated during slavery” and thus perpetuates “racist motifs”
In reference to illegal migration: onslaught, tidal wave, flood, inundation, surge, invasion, army, march, sneak and stealth
Anchor baby
Chain migration: this is a term used by “immigration hard-liners”
Peanut gallery: “the cheapest seats often occupied by Black people and people with low incomes”
Third-world countries: too “derogatory”
Oh, it does not end there. Politico reporters are also not allowed to say that a transgender person “identifies as” a certain gender, or describe the current situation at the border as a “crisis.” The guide also warned reporters to make sure not to portray migrants as a “negative, harmful influence.”
Want some more? “Pro-choice” is frowned upon in favor of “abortion rights supporter,” and (of course) “pro-life” is outlawed, with “anti-abortion” taking its place. “Late-term abortion” is also a no-no; reporters are told to use “abortion later in pregnancy.”
College student accused of stealing more than half a million dollars via credit card fraud working part-time at a mall jewelry store where most of the items are under $50. She marked up items, then returned them at the original price and somehow pocketed the difference. She made eight fake transactions totally more than $540,000. As though somehow the store wasn’t going to notice something funny going on.
I’m pro-life but this is stupid. “Texas Lawmaker Looks to Restrict Online Access to Materials Assisting or Facilitating Abortion.” You can’t ban access to information you don’t like, that’s prior restraint and illegal under the U.S. Constitution.
Speaking of violating rights, a judge was suspended for not allowing a defendant access to legal council. Again. The dumbass in question was Kenton County District Judge Ann Ruttle in Kentucky.
More Democrats behaving badly and Kazakhstan in flames. Enjoy the first LinkSwarm of 2022!
How Democrats running the New York City Department of Correction turned control over to the correctional officers union and they let the inmates run the jail.
For years, mayors and correction commissioners have allowed jail managers to place the least experienced officers in charge of detainee dorms and cells, posts that are critical for keeping order but viewed by many as the least desirable assignments in the system. The managers, who base staffing decisions on seniority, department custom and office politics, have also filled the jobs with guards who have fallen out of favor with administrators, reinforcing the idea that they are punishment posts to be avoided.
When those guards in the housing units have fallen ill, gotten injured or been barred from contact with incarcerated people for other reasons, other rules adopted by city leaders have made finding replacements unusually difficult.
Every mayoral administration since John Lindsay’s in the 1970s has signed union contracts granting unlimited sick leave to guards and the city’s other uniformed workers. And records and interviews suggest that abusing it can carry few consequences: It can take more than a year for the department to bring discipline charges against an officer who is caught abusing sick leave.
On a Thursday in October, one Rikers jail had 572 guards on its work schedule — more than enough to fill the 363 open posts.
But 17 guards were serving suspensions or had stopped showing up for work.
Another 117 guards were on vacation, long-term leave or off doing temporary duties.
Then there were those marked “indefinitely sick” — 136 guards who had been out for 30 days or more but were still on the payroll thanks to generous union benefits.
That tipped the balance, leaving just 302 guards to fill the 363 posts, and forcing double shifts across the jail.
When they have been told that such policies could lead to dangerous breakdowns, city leaders have not acted on the warnings. As recently as February 2018, the office of Mayor Bill de Blasio’s top criminal justice adviser presented the first deputy mayor, Dean Fuleihan, with a memo that stated that high rates of absenteeism among guards might be driving a rise in jail violence — and recommended steps to stabilize staffing and reduce violent incidents. The de Blasio administration took none of them, and the memo has not been made public.
And when conditions have spiraled out of control on Rikers in recent years, jail managers have favored quick fixes over deeper policy changes. Under scrutiny in 2014 amid reports of brutality by guards, the managers concentrated members of the Bloods gang in some units, the Crips in others, and still other gangs in other areas, hoping the practice would cut down on fights among rival groups. It did not work. Not only did incidents where guards used force rise, but some gangs were positioned to take over housing areas when the pandemic swept through and caused staffing problems.
The mismanagement over the years has left the people charged with running the jail system feeling powerless.
Putting criminals in charge of things does seem like the Democratic Party’s go-to move in a lot of areas…
For nearly two years, we’ve wondered how this will end. In retrospect, the clue is in how it began.
The initial lockdowns had a strong class-based component. The working classes were assigned the job of delivering groceries, tending to the sick, driving the trucks filled with goods, keeping the lights on, and keeping the fuel running. The professional class, among whom were the people who pushed lockdowns in the name of disease avoidance/suppression, were assigned the job of staying home in their pajamas and staying safe.
It all happened seemingly in an instant. We all had to figure out whether our job qualified and what we should do. More striking at the time was the very notion that government bureaucrats could slice and dice the population in that way, deciding what can open and what can’t, who must work and who must not, what we can and can’t do, all based on our station in life.
It now seems obvious to me. This whole disaster would finally come to an end (or at least the end would begin) when it became obvious that the great strategy of class division and demarcation would fail to protect the Zoom class from infection.
That day has finally arrived, with cases soaring in many parts of the country and hitting everyone of every class, whether they’re being “careful” and adhering to the “mitigation measures” or not. What’s even more striking is how even the vaccines, which were supposed to codify the wisdom of class segregation, haven’t protected against infection.
All of this seems to have taken place over the course of December 2021, with the arrival of the seemingly mild Omicron variant. Still, the other variants circulate widely, causing various degrees of severity with or without hospitalization, much less death. In other words, millions from among all classes of people are finally getting sick. At this point, we seem to be seeing a big shift in attitudes.
A lot of this comes from casual conversation. A person comes down with COVID, perhaps confirmed by the newly fashionable at-home tests. “Did you get vaccinated?” the person is invariably asked. The answer comes back: Yes, and boosted. That’s when the chill happens. It appears that nothing can ultimately protect people from this. In which case, it’s time we change our tune.
Snip.
The driving ambition here, though never explicitly stated, was to assign the burden of bearing the disease to the lessers among us. That’s a conventional model used in illiberal societies throughout history. The elites who had both granted and benefited from lockdowns took it as axiomatic that they deserved disease purity and health more than those who worked to keep society running. And that scheme seemed to work for a very long time. They stayed home and stayed safe and kept clean, while the virus circulated season after season.
It’s hard to know what the end game here was. Did the Zoom class honestly believe that they could forever avoid exposure and infection and thus the development of natural immunity? Certainly they did for a time believe that the shots would spare them. Once that didn’t happen, there was a huge problem. There were no more tools remaining to perpetuate the disease castes that had been forged back in the day.
Now that the people who tried to protect themselves are no longer able to do so, we are seeing a sudden rethinking of disease stigmatization, class disdain, and the treatment of others as sandbags to shield people based on class. Now it’s suddenly no longer a sin to be sick.
Fascinating! What went wrong here? Everything. The notion that public health should thusly divide people—based on one pathogen—contradicts every democratic principle. That idea still survives with the vaccines, regardless of the known limitations. The people who invested in these personally and socially will continue to use them to divide and conquer.
In the 2016 Republican Party presidential primary, decades of dissonance between the party’s aggrieved grassroots and its blinkered elite spilled out into the open. For years, the chasm widened between the GOP’s heartland base, the river valley-dwelling “Somewheres” from David Goodhart’s 2017 book, The Road to Somewhere, and the party’s bicoastal “Anywhere” rulers. The foot-soldier Republican “Somewheres,” disproportionately church-attending and victimized by job outsourcing and the opioid crisis, felt betrayed by the more secular, ideologically inflexible Republican “Anywheres.”
Donald Trump, lifelong conservative “outsider” and populist dissenter from bicoastal “Anywhere” orthodoxy on issues pertaining to trade, immigration and China, coasted to the GOP’s presidential nomination. He did so notwithstanding the all-hands-on-deck pushback from leading right-leaning “Anywhere” bastions, encapsulated by National Review magazine’s dedication of an entire issue to, “Against Trump.” Trump’s subsequent victory in the 2016 general election sent the conservative intellectual movement, as well as the Republican Party itself, into a deep state of introspection.
Trump’s victory was primarily propelled by a white working-class revolt, but the emergence during his presidency of a deeply censorious and anti-American Left—epitomized by the Democrats’ outrageous conduct during the Brett Kavanaugh Supreme Court confirmation battle and the destructive “1619 riots” last summer—opened the door for a broader working-class, pro-America political coalition. By Election Day 2020, that multiethnic, working-class conservative coalition had begun to take more definite shape. Trump lost a nail-biter of an election, but the GOP made massive inroads in crucial black and Hispanic communities, such as Florida’s Miami-Dade County and the heavily Mexican counties dotting Texas’ Rio Grande Valley.
Now over a year removed from the 2020 presidential election, as President Joe Biden’s poll numbers plummet and frantic Democrats gird themselves for a 2022 midterm election shellacking, data continues to trickle in supporting the emergence of a “Somewhere”-centric, multiethnic, working-class Republican coalition. In Texas, where former Democratic Representative Beto O’Rourke lost to incumbent Republican Senator Ted Cruz by less than three points in 2018, a new Quinnipiac University poll finds Republican incumbent Governor Greg Abbott, up for reelection in 2022, leading challenger O’Rourke by a whopping 15 points. Abbott outright leads O’Rourke among Texas Hispanic voters, 44 to 41, and Texas Hispanics disapprove of Biden’s job performance by a massive 27-point margin.
A new Wall Street Journal national poll evinces much the same trend. On a generic Republican versus Democrat ballot, the WSJ poll shows Hispanics evenly split 37 to 37. Nationally, Hispanics disapprove of Biden’s job performance by 12 points, and they support Biden over Trump in a hypothetical 2024 presidential rematch by a razor-thin 44 to 43 margin. Nor, of course, is the GOP’s good news with Hispanic voters limited to Texas; in Florida, the state’s growing conservative-leaning Cuban and Venezuelan populations make Republican incumbents Governor Ron DeSantis and Senator Marco Rubio heavy favorites for reelection next fall.
Trump has has taken up permanent rent-free residence in their heads: “MSNBC’s ‘Deadline: White House’ mentions Trump more than twice as often as Biden.” (Hat tip: Ed Driscoll at Instapundit.)
“I find some kind of sign every single day that someone has been on my ranch,” says Schuster. “Every time I leave my house, there’s some kind of indication that someone has been on my ranch.”
Law enforcement has been called to the Schuster property five times in the past year to respond to incidents where illegal border crossers have knocked on their door or approached their house.
Operation Lone Star, a state effort that has seen additional Texas DPS officers sent to border counties, has been a blessing to the county, according to Schuster, and a relief to the local sheriff and his small crew of deputies. Schuster believes that the DPS patrols on the highways have been a deterrent to the illegal border crossers who use the highways and then bail out to run onto private property.
However, Schuster says the problems will persist for as long as this open border policy continues.
“I don’t know all the politics of it and how all that works, but we’re gonna have to do something, because my parents worked hard to buy this land. People have said, ‘Well, if you’re scared on your own land, you just move.’ It doesn’t work that way,” said Schuster. “This is our land. And they worked hard, and they bought it, and you can’t give up on that land. It’s your legacy. It’s your legacy for your children. And so, it’s not like you just have a house in town, and you could just sell it and move to another community. When you have a ranch, you can’t do that.”
Schuster added, “In the last year, our life has been turned completely upside down. It is something that we just had never foreseen.”
She said that beginning last January, “the number of illegals coming through has been unbelievable. The group sizes are big. You know, growing up on a ranch, around ranching, we’ve always had illegals coming through. Never saw women before, or children. Men come through, maybe two or three; if you saw [a] group of five, that was a big group. We’ve got groups of like 45 coming through.”
The sizable groups are not the only issue with this increased traffic. “They’re very disruptive. We’ve never seen that before,” said Schuster. “The people that have come across primarily from Mexico for work, going from point A to point B looking for a job, did not intentionally tear up our water systems. The debris that they’re leaving behind is unbelievable. I’m picking up trash on my ranch daily, they’re leaving gates open, livestock is getting mixed up, or maybe water gaps between me and my neighbor.”
An incident over the summer left Schuster shocked when some of the illegal border crossers intentionally broke a water line. “I lost about 10,000 gallons of water this summer,” said Schuster. “It probably took me at least six weeks to gain that much water back.”
According to Schuster, “they could’ve reached over—it wasn’t enclosed—and gotten a drink. But they just took a rock and beat this line until they broke it. That’s mean. That’s just malicious.”
Security and safety have taken major precedence in the Schuster family’s life. Game cameras on the doors, rarely going out in the pre-dawn hours, working out of an enclosed truck instead of an open UTV on the ranch, and never leaving the house without a pistol have all become standard practice for the whole family.
Twitter user TimDCpolitico took Florida’s voter rolls from March 31 of 2020 and compared them to the latest figures. The results, he says, are “jaw-dropping,” and I can’t think of a better way to describe them.
Out of over 14 million registered voters, last year Democrats held the edge with 37.38% of registrations compared to the GOP’s 35.28%. (The remaining four million or so — around 26% — were independents or members of minor parties.)
Democrats held a two-point advantage, but higher Republican turnout has made the state safely red in the last two presidential elections.
Snip.
66 out of Florida’s 67 counties shifted towards the red. Three hardcore Democrat counties — Broward (!!!), Jefferson, and Madison — might in some races be considered additional battlegrounds Dems will have to defend.
A fourth, Calhoun, went from dark blue to light red.
That’s impressive.
What should have Democrats strapping on a pair of Extra Absorbent Depends (Endorsed by Presidentish Joe Biden!) is that they lost more than 50,000 registrations in the same time period — even as the state’s population has grown.
Republicans have gone all in on South Texas, but they’re not content for domination of state and congressional seats. They want local government, too.
One GOP group, Project Red Texas, spent the weeks before the December filing deadline to run in the March primary election traveling the region and recruiting candidates to run for county offices, offering to pay their filing fees. The group ended up helping get 125 candidates on the ballot across 25 counties, according to its leader, veteran party operative Wayne Hamilton. He said the group paid for “well over” half the filing fees.
The first step on the road to winning is actually showing up.
Investors may want to think twice about putting their money to work in China, contends DoubleLine founder Jeffrey Gundlach.
“China is uninvestible, in my opinion, at this point,” the bond king told Yahoo Finance in an interview at his California estate. “I’ve never invested in China long or short. Why is that? I don’t trust the data. I don’t trust the relationship between the United States and China anymore. I think that investments in China could be confiscated. I think there’s a risk of that.”
Snip.
The ongoing crackdown on the operations of big Chinese internet companies such as Didi by the government has rocked investors in the space. The clamping down on the country’s biggest tech names has now led to a tightening of listing requirements by the Chinese government.
To that end, Didi plans to delist from the New York Stock Exchange later this year not too long after a disastrous IPO (in large part because of Chinese authorities).
Meanwhile, the long reach of China’s government also hammered after-school tutoring companies such as TAL Education Group — shares of the name plunged about 95% in 2021.
All of this is in addition to China’s ongoing fight against the rise of cryptocurrencies.
The investing headwinds in the country show up in how the country’s key indexes performed in 2021.
For instance, the Golden Dragon Index — which tracks the performance of mid- and large-cap Chinese stocks — plunged about 49% in 2021. The Wall Street Journal points out the total value of China’s onshore stocks rose 20% in 2021, underperforming the S&P 500’s advance.
And none of that touches the insanely overleveraged real estate market there…
Another day, another high-profile Kamala Harris staffer leaving. “Vincent Evans, the veep’s deputy director of public engagement and intergovernmental affairs, has quit to take on a role on Capitol Hill.”
Austinites (and anyone who uses metered parking) beware:
Scam Alert APD Financial Crimes detectives are investigating after fraudulent QR code stickers were discovered on City of Austin public parking meters. People attempting to pay for parking using those QR codes may have been directed to a fraudulent website and made a payment. pic.twitter.com/Gb8gytCYn7
PayPal just informed me that they have permanently banned my account. Without giving an explicit reason why, the supervisor was extremely rude and implied that it had everything to do with my politics.
— Ian Miles Cheong @ stillgray.substack.com (@stillgray) January 5, 2022
Seeing Collins contorted in a wheeled chair, like Grandfather Smallweed in Bleak House, while his two bandmates swayed on either side of him, painlessly upright in elegant, soft grey fashions like Farrow and Ball in human form, bordered on the grotesque. It resembled a satire on the ineradicable nature of privilege and class, rather than evidence of the dynamic tension every band needs to achieve creative synthesis. It was everything the NME said punk disdained. But I can’t imagine John Lydon taking any pleasure in this at all.
To say that Lydon has mellowed would be a huge over-simplification, not only of who he is now but of who he was then, both of which were media distortions if not inventions. And, frankly, I’m not qualified to offer much insight into either. But I suspect that he is at least more willing to let us see his human side now. His wife of over 40 years, Nora Forster, has been suffering from Alzheimer’s for the last three and he has committed himself to her full-time care. In 2010, Forster’s daughter Ariane—better known as Ari Up, lead singer of female post-punk outfit The Slits—died of breast cancer aged just 48. Lydon knows something about human frailty, mortality, and loss.
I have the sense that after many years, not on the field of combat but behind the bare timber of the cheapest proscenium arch, the paint is wearing off both these Punch dolls. Both were iconic and pugnacious in their day, but human, all too human, too. Today, it is not prog, let alone Genesis, that attracts Lydon’s ire, but what he perceives to be the betrayal of his ex-bandmates, who have sold out the Pistols’ musical legacy to a TV show—people that do indeed, as he sneered in PiL, see it as nothing more than product.
Lydon was years ahead of his time, on everything from the Savile row to the shark-infested waters in which he was swimming, but I doubt he will take much pleasure in seeing a fellow grafter—and émigré—working through pain to give his fans a chance to say one last farewell, to him and to each other. He might even feel a twinge of grudging kinship. They may not have reached the churchyard quite yet, but their paths are beginning to converge, as all must in the end. And, meanwhile, as the years wear on, who can be sure Her Majesty—God Save Her—won’t bury the bloody lot of them?
Ted Cruz has had a weird week. After the braindead boner of calling January 6 riot participants “domestic terrorists,” he had to issue a huge Mea Culpa on Tucker Carlson. Oh, and he also issued this:
Due to popular demand from angry libs, in 2022 we’ll be putting out a swimsuit calendar. https://t.co/Lr1aDZIv3H
After a long hiatus, the Texas vs. California update is back!
The update, focusing on news about the two biggest states in the union, and contrasting the the red and blue state models of governance for each, was a regular staple of the blog a few years ago, but as I got busy I fell behind, and the links kept piling up. As a result, this update is extra huge and some of the news here is very old indeed, with some links dating back to 2017. Recently I’ve been updating and triaging so I can finally publish this. I’ve tried to put the newest and most important stories at the top, but there is stil some old news of note further down.
According to a new U.S. Census Bureau report, of the 15 fastest-growing cities larger than 50,000 people, seven are in Texas including the top three: Frisco, New Braunfels, and Pflugerville. Frisco’s growth rate was 8.2 percent, some 11 times faster than the national rate of 0.7 percent.
Of the cities with the greatest population gain from July 1, 2016 to July 1, 2017, San Antonio, Texas, took the prize, adding some 66 people every day. Texas had the most cities in the top 15 of this category as well with five making the list and three of the top five overall in addition to San Antonio: Dallas, Fort Worth, Frisco, and Austin.
San Antonio now has more than 1.5 million people and ranks as the nation’s seventh-largest city, just behind Philadelphia. Fort Worth, meanwhile, knocked Indianapolis, Ind., out of the top-15 with a population of 874,168. Houston is America’s fourth-largest city and is also the most diverse large city in the nation.
In a stunning procession in December, California lost the leadership of three iconic firms — Hewlett Packard Enterprise, Oracle and Tesla — all to Texas, which this year even took the Rose Bowl’s place in hosting the college football playoff. In addition, many California tech firms, including Uber and Lyft, as well as Apple, have been shifting jobs outside the state.
This has been widely described as California’s “tech exodus.” Though it’s still less than a torrent and more a steady, long-term drip, it augurs some very bad trends. In recent years, California has been losing market share of innovative industries compared with 11 states with high concentrations of innovation-oriented firms, according to research by Ken Murphy, a professor at UC Irvine’s business school.
Since 2005, California’s share of the number of firms in the innovation sector (composed of 13 of the nation’s highest-tech, highest R&D advanced industries) has shrunk while competitors like Florida, Oregon, Arizona and Utah have expanded their share slightly.
The pandemic-induced push to move work online could hasten this shift. With 2 out of 3 tech workers willing to leave the Bay Area if they could work remotely, Big Tech could readily spread talent and wealth to other states.
Increasingly, California’s cities must compete with metro areas in Texas, Tennessee and even parts of the Midwest. Housing prices are a particularly critical concern: California has all three of the most unaffordable metro regions for first-time home buyers, according to a recent AEI survey, and six of the top 10. The flow of tech workers during the pandemic has gone to places like Phoenix, Dallas-Fort Worth and Raleigh, N.C., and away from big coastal cities with higher living costs.
Software-based tech companies can access knowledge workers outside California, and often at lower costs. At the same time, states like Texas and Arizona have been sought to replicate the California formula for tech industry growth — public university expansion, more suburban housing and public investment in downtowns, all meant to appeal to workers and their bosses.
Snip.
But more recently, as the tech industry becomes more virtual and services-based, the companies’ workforces have less of a need to all be in one place. While these companies create vast wealth for a relatively small group of people, this is not a formula for broad-based economic prosperity.
In contrast to the old Silicon Valley, the Bay Area has become “a region of segregated innovation,” as described by CityLab, where the upper class waxes, the middle class wanes, and the poor live in poverty that is unshakable.
The state leadership’s cavalier response when major employers depart is to assume that California will continue to create new businesses to replace the high-paying jobs lost.
Yes, venture capital is piling into tech startups, driven by the low cost of money and pandemic disruption, and the state is expecting $26 billion more in revenue this year in part because of the roaring initial public offering market. But brushing off recent departures as part of a routine industrial cycle is naive and allows politicians to avoid making choices that would keep entrepreneurs, their businesses and good jobs in California.
California already has the nation’s highest income tax, with the top marginal tax rate at 13.3%. A new proposal, Assembly Bill 1253, would add three new tiers of surcharges on people earning $1 million a year and above. Lawmakers also introduced Assembly Bill 2088, which would apply a 0.4% wealth tax on net worth above $30 million. Neither bill passed the Legislature last month, but both may come back in the new legislative session.
Tech companies may be adept at avoiding taxes, but their top managers, investors and most skilled employees could see these measures as more reasons to leave — particularly when competing states like Texas, Tennessee, Nevada and Florida have zero state income taxes.
Another law, Assembly Bill 5, which limits contract employees, could prove damaging to small startup business that cannot afford many full-time workers. And for some industries, particularly those involved in energy-intensive industries like cloud computing and advanced manufacturing, California’s energy prices — one of the highest in the continental U.S. and double the cost in places like Texas — are another incentive to move commercial activities elsewhere.
As the catastrophic state of California’s finances finally begins to set in among politicians, anti-tech media personalities, and far left cultural influencers, the narrative on California’s techxodus — that is, the migration of California’s technology industry out of the state — has shifted from mockery, and “we’ll be better off without you,” to a far more sober, and increasingly-desperate “leaving California is immoral.”
As it is simply too embarrassing for politicians to admit the state needs the technology industry after more than a decade of antagonizing the men and women who built it, and as it is political suicide for incumbent politicians in a one-party state to admit that every one of the problems we’re facing has been created by our elected leaders, a moral argument for tech’s responsibility to California, and specifically the Bay Area, has recently been produced. It goes something like this: young ambitious people moved to the state, and struck gold. But rather than “give back” to the land, they’re leaving with resources they “took” from the region. Like the milkshake guy from There Will Be Blood, sucking oil from the earth. Like the evil army people from Avatar, and their unquenchable thirst for unobtanium.
Snip.
The thing I like least about the folks who leave SF + Silicon Valley for Texas and Miami and wherever else is the crapping on the place they left *after* they've extracted all they can from it.
The Bay Area helped you build your immense wealth and that's the thanks it gets. smh.
“Extracted,” she says. Smh. A week or so later, in the psychotic San Francisco Board meeting where our local representatives voted 10 to 1 to officially condemn Mark Zuckerberg for donating 75 million dollars to a hospital (really, this happened), the word came up again. When the floor was opened to the public, an activist downplayed what was, as Teddy Schleifer reports, “the largest single private gift to a public hospital ever,” and accused Zuckerberg of “extraction.” Our local politicians did not think this strange.
Snip.
I take extreme issue with the notion that industry leaders have taken something from the “community,” defined here as the “talent,” the “incubators,” and the “mentors.” This is precisely the opposite of reality. The men and women leaving are the talent, they have started the incubators, they have built the companies, they have funded the startup ecosystem, and they have mentored countless young people. This is the “network.” They are the network. Technology workers do not “extract” value from the region, they are what makes the region valuable.
California is beautiful — San Francisco is truly, I think, one of the most beautiful cities in the world — but the soil isn’t made of magic, there’s no such thing as digging for microcode, and the Bay Area’s nativist, anti-immigration political climate has certainly not created the tech community, which is populated largely by immigrants, be they from out of the state or out of the country.
Among many things, including talent, opportunity, and soft power, the technology industry has brought tremendous tax revenue to the Bay Area. The budget of San Francisco literally doubled this decade, from around six billion to over twelve billion dollars. With our government’s incredible, historic abundance of wealth, the Board of Supervisors has presided over: a dramatic increase in homelessness, drug abuse, crime — now including home invasion — and a crippling cost of living that can be directly ascribed to the local landed gentry’s obsession with blocking new construction. This latter piece is important, as it appears to be the only thing our Board cares about. This is because significantly increasing the local housing supply would decrease the value of the multi-million dollar homes almost every single one of our Supervisors owns, and we could never have that.
These past ten years I often wondered where the city’s money went. Could the leadership really be this stupid, or was there corruption? Turns out both. We’ve recently discovered our politicians are literally criminals, but they’re also bad at crime.
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The Bay Area housing, homeless, and drug crises are all exacerbated by the state government, which is as incapable of managing its finances as it is incapable of managing its public land; we are now teetering on the edge of true financial ruin in a state of endemic, constant wildfire. But let’s take a closer look at this issue of money. On one hand we have insane, nativist property tax codes, which punish new homeowners at the expense of longtime landlords, and on the other our income taxes have skyrocketed. Since income taxes are structured progressively, the state has backed itself into a position of extreme uncertainty, as the top one percent of earners pay half the state’s taxes — while politicians argue the state’s wealthiest men and women, who already pay more in taxes than the wealthiest men and women of any other state and most free countries in the world, are not paying their “fair share.” As if rudimentary economic threats were not enough, politicians have made cultural platforms of their anti-technology, anti-industry attitudes, and have done everything in their power to drive our top one percent of earners out of the state. In this, our politicians are succeeding.
Such success in driving top earners from the state only further exacerbates the state’s political disasters, with our government of bloated, corrupt services now starving for income. This has in turn increased the political appetite for all manner of draconian, anti-business practices among politicians with no apparent ability to conceive of the second order effects of their legislation, a deficiency in basic intelligence that led, for example, to the unmitigated disaster that was AB5. In other words, everything is structured to further deteriorate.
Beleaguered San Francisco restaurants are struggling with a recent citywide rise in burglaries, including a slew of brazen break-ins at popular restaurants between the Thanksgiving and Christmas holidays. It’s a situation many restaurant owners say is exacerbating an already bleak outlook for the local food scene.
San Francisco Police Department data shows burglaries in the city climbed from 4,918 reported incidents a year ago to 7,248 as of Dec. 27. The data does not specifically show how many restaurants have been affected, but the rise in burglaries is reflected in the stories being told by business owners in interviews and on social media. It’s a hard reality for local restaurants that have now gone almost 10 months with diminished revenue, forced hibernation periods, and only occasional approval for indoor and outdoor dining service.
In mid-December alone, San Francisco’s nostalgic Toy Boat Dessert Cafe posted on Instagram about having had its door kicked in during an attempted burglary. Also in the Richmond District, Cassava took to social media to post about losing roughly $3,000 worth of equipment, including iPads, after a break-in. And Epic Steak and Waterbar on the Embarcadero each lost a similar amount when thieves stole alcohol and damaged property.
Owners say the shelter-in-place order provides thieves with opportunities to break into businesses. Streets are empty because people are staying home. The ghost-town effect is increased as a growing number of restaurants and other businesses are either permanently or temporarily closed. The break-ins are all the more painful when restaurants aren’t even bringing in income to cover the cost to repair or replace stolen or damaged items.
Speaking of government officials being stupid crooks: “SF City Administrator Naomi Kelly Resigns Over Bribery Allegations. Husband Harlan Kelly, SF PUC Manager, had been arrested after accepting international trips, vacation to China, meals, jewelry, and personal car services.” As with the Biden clan, graft, corruption and shady links to China all seem to be part of the family trade for Democratic power families…
How California’s catch and release approach to crime kills.
Jerry Lyons, 31, had spent his entire adult life committing crimes. He had dozens of arrests in California — attempted robbery, burglary, evading police, driving a stolen vehicle, weapons charges, drug charges, shoplifting, trespassing, etc. — but kept getting turned loose until Thursday, when he finally killed somebody. Sheria Musyoka, 26, was an immigrant from Kenya who had graduated from Dartmouth and moved to San Francisco with his wife and three-year-old son. Lyons was behind the wheel of a stolen car when he killed Musyoka.
Despite improvements, the official poverty rate remains high.
According to official poverty statistics, 14.3% of Californians lacked enough resources—about $24,300 per year for a family of four—to meet basic needs in 2016. The rate has declined significantly from 15.3% in 2015, but it is well above the most recent low of 12.4% in 2007. Moreover, the official poverty line does not account for California’s housing costs or other critical family expenses and resources.
Poverty in California is even higher when factoring in key family needs and resources.
The California Poverty Measure (CPM), a joint research effort by PPIC and the Stanford Center on Poverty and Inequality, is a more comprehensive approach to gauging poverty in California. It accounts for the cost of living and a range of family needs and resources, including social safety net benefits. According to the CPM, 19.4% of Californians (about 7.4 million) lacked enough resources to meet basic needs in 2016—about $31,000 per year for a family of four, nearly $7,000 higher than the official poverty line. Poverty was highest among children (21.3%) and lower among adults age 18–64 (18.8%) and those age 65 and older (18.7%). The overall poverty rate went unchanged between 2015 and 2016, following two years of decreases.
About four in ten Californians are living in or near poverty.
Nearly one in five (18.9%) Californians were not in poverty but lived fairly close to the poverty line (up to one and a half times above it). All told, two-fifths (38.2%) of state residents were poor or near poor in 2016. But the share of Californians in families with less than half the resources needed to meet basic needs was 5.6%, a deep poverty rate that is smaller than official poverty statistics indicate.
2018: “LA Doubled Homeless Budget, Doubled Homeless Crime.” Bonus: Homeless people were behind many of the big California fires.
Los Angeles is seeking a $3.9 billion coronavirus bailout. “Last year, roughly 20,000 city employees’ average pay exceeded $147,000, costing taxpayers $3 billion, Open the Books auditors found. Nearly 2,000 employees out-earned California Gov. Gavin Newsom’s salary of $202,000.” (Hat tip: Pension Tsunami.)
“2 out of 3 tech workers would leave SF permanently if they could work remotely.”
The number of homeless Californians in the Los Angeles county has reached 58,936, New York Times reported this weekend.
But Californians don’t seem to be the priority of democratic governor Gavin Newsom.
Under an agreement between Gov. Newsom and Democrats in the state legislature, low-income adults between the ages of 19 and 25 living in California illegally would be eligible for California’s Medicaid program, known as Medi-Cal.
State officials estimate that will be about 90,000 people at a cost of $98m a year.
This decision will make California the first state in the US to pay for illegal immigrants to have full health benefits.
For the 2018-2019 tax year, the bill was sent to the Newsoms on September 28, 2018. The two installments were due in December 2018 and April 2019, and the bill became delinquent on July 1, 2019. They finally paid their second installment, along with about $3,000 in penalties, on September 3, 2019. This is significant because the Newsoms’ Fair Oaks mansion was purchased for $3.7 million cash in November 2018. Newsom’s spokesman claims it was the Newsoms’ cash even though there is no documentation of that; the home was purchased in the name of Gavin Newsom’s cousin and longtime PlumpJack business partner, Jeremy Scherer.
If the Newsoms had $3.7 million in cash lying around, why wait to pay $22,000 in property taxes until the next year and incur a $3,000 penalty? Wealthy people aren’t in the habit of paying thousands of dollars in penalties.
In 2018 the Newsoms were sent a supplemental property tax bill on May 15, covering a revaluation and some school and health bonds. That bill was due in two installments; the installments became delinquent June 30 and October 31, respectively.
He finally paid them on December 10, 2018, along with $750 in penalties.
The last time their property tax bill was paid on time was when they received the “sweetheart” cashout refinancing deal in December 2017 ($3,225,000 cashout on a home worth $3,500,000) – presumably because the bank would only close the loan if the property taxes were paid at the same time.
“Many people are moving from California to Texas. The cost of living, as well as high taxes and red tape, are precipitating the push.”
“EVERYONE IS FROM California. Are they kicking y’all out?” asks a curious bureaucrat at the Department of Public Safety in Plano, a city near Dallas. In the previous week she had helped 20 people from California apply for a Texas driving licence. Those keeping score in the contest between the two states do not have to look far to notch up points for Texas. On the way to the state Capitol building in Austin to interview Greg Abbott, the governor, your correspondent discovered that her driver had recently relocated from southern California to start a family in a more affordable city.
Between 2007 and 2016 a net 1m American residents, or 2.5% of the state’s population, left California for another state. Texas was the most popular destination, attracting more than a quarter of them. More Americans have left California than moved there every year since 1990, though immigrants still arrive from abroad.
Companies are also moving. Last year McKesson, a medical-supplies company, and Core-Mark, a supplier to convenience stores, shifted their headquarters from California to Texas, as did Jamba Juice, a smoothie company. Many Californian firms are also adding jobs outside the Golden State. Charles Schwab, a financial-brokerage firm based in San Francisco, received more than $6m in incentives from Texas, and by the end of this year will have more employees there than in California.
What explains the one-way traffic? There are four reasons for California’s weaker position. First, it has become very expensive, especially for housing. “If there’s one risk factor in this state, it’s affordability,” says Gavin Newsom, California’s governor. “The thing we most pride ourselves on—the California dream, a notion of social mobility that we export around the world—is in peril.” A third of Californians are thinking of moving out of state because of the high cost of housing, according to a recent survey by the Public Policy Institute of California, a non-profit research firm. Most of those leaving California for Texas earn less than $50,000 a year and have only a high-school education…
The middle class is also struggling. In California home-ownership rates are at their lowest level since the 1940s and among the lowest in America, with black and Hispanic families particularly hard hit. In the past ten years around 75,000 new housing units received permits annually, only 40% of the projected need. “From the perspective of a young, upwardly mobile family, California is nearly impossible, unless you have rich parents, rob a bank, or get money from your firm going public,” says Joel Kotkin, a professor at Chapman University, who believes that the state is experiencing a new kind of “feudalism”, where the ultra-rich thrive and others suffer.
As a symbol of how out-of-reach the once accessible state has become, last year the small house that was the setting for “The Brady Bunch”, a television show in the 1970s about a middle-class Californian family, sold for a whopping $3.5m, nearly double its asking price. Companies expanding elsewhere find that many employees are happy to give it a go in a state where they can afford to buy a house and raise a family.
The states also have wildly different tax regimes, which is a second reason for Texas gaining favour as a destination. With a top rate of 13.3%, California has the highest state income-tax rate for top earners. Texas does not charge residents a state income tax. Instead, they pay higher property taxes to local governments, and the state gets most of its money from a sales tax. Because of recent changes to the tax code, residents of California and other high-tax states will no longer be able to deduct all of their state and local taxes from federal payments, which could further dampen people’s willingness to remain in the state.
Taxes on businesses are increasing, too. In the past six elections California voters have approved more than 800 local taxes on businesses and residents, according to Larry Kosmont of Kosmont Companies, an economic advisory firm. (This does not include voters’ decision to raise the income-tax rate on the state’s highest earners.) For example, last year voters in San Francisco approved the controversial Proposition C, which taxes businesses with more than $50m in gross revenues to fund services for the homeless. Companies with fat profit margins can afford higher taxes, but lower-margin businesses cannot, and these are the ones most likely to consider an alternative location.
Third, Texas has pursued a concerted strategy of wooing and cultivating businesses, whereas California has not. This began with Rick Perry, who served as Texas’s governor from 2000 to 2015. He travelled to California and other states on “hunting trips” to poach businesses, ran ads on radio encouraging people and companies to move, and offered large incentives to create jobs in Texas. Mr Abbott has continued with these pro-business policies and still operates a “deal-closing fund” to incentivise businesses to come. He is a cheerleader for his state’s advantages, including low costs, a central location with good airports and a convenient time zone for doing business with both coasts. He describes Texas as “the quintessential free-enterprise state”.
Here’s what the “liberal Californians, go home” crowd misses: The vast majority of West Coast dwellers who make up Bailey’s more than 11,500 Facebook followers lean conservative.
And after spending a few days perusing Bailey’s page, I’d say this comment best sums up its audience: “We fell in love with Texas immediately … we’re conservative Christians who love God, country, freedom, family, gun rights and barbeque.”
Bailey said cost of living and taxes are hot buttons for commenters, but so are gridlocked roads, the homeless and illegal immigration.
The Realtor welcomes people of all political stripes onto her page — after all, she’s in this to make money. And she and her husband, Scott, identify as libertarian.
Our state debt is over $1.5t. We have the highest gasoline prices in the nation. Oh, and we are a sanctuary state that protects all manner of illegal immigrants, no matter how serious the crimes they’ve committed. Think Jose Garcia Zanate who killed Kate Steinle. He had been deported seven times but was out and about on the streets of San Francisco with the blessings of SF law enforcement; they aim to protect the criminals at the expense of the law-abiding. ICE is the enemy in sanctuary cities and states, the thugs are victims.
State taxes in California are the highest in the nation, as are our sales taxes. We fall nearly last in education. We have the most homeless, the most illegal migrants. The state spends $30.b on illegal immigration per year. Like all cities run by progressives, our entire state is a disaster of Democratic making. San Francisco, Los Angeles, and San Diego have been overrun by homeless people, most of them drug addicted and/or mentally ill. Entire areas of these cities are befouled by used needles, feces, trash, garbage, rats and now diseases long-thought to be extinct in the West. Persons who work in downtown Los Angeles have contracted typhus! As true in other cites long run by Democrats (Chicago, Baltimore, Seattle, Detroit, Flint) it is the implementation of ridiculous utopian Marxist policies so beloved by progressives that has destroyed these once grand cities. Socialist strategies always fail. Democrats cheat, (ballot harvesting) are re-elected, and the state continues to decline. Venezuela is the current example of the massive failure of socialism on the world stage. What is happening there is beyond tragic; the people are starving in every sense of the word. But will our own Alexandria Ocasio-Cortez condemn socialism? Absolutely not. She, Bernie Sanders and their fellow travelers mean to take this country the way of Venezuela, the road California has already been on for too long; possibly too long to ever recover. This state is slowly becoming a third-world nation. But, as in Venezuela, the rich and politically powerful stay rich, keep their mansions and their private planes unperturbed by the devastation they generate.
First, the problem of corruption must be addressed. It’s no secret that public unions rule the legislative process in this state. They’re even funding the redecorating of the Lieutenant Governor’s office, using money confiscated from the state’s lowest-paid workers. De-funding the unions through an “Uncheck the Box” campaign aimed informing union workers that they can opt out of union dues (opt-outs made possible by the Janus decision) should be a top priority for activist groups in the state. De-funding the unions will have a positive domino effect on everything in California.
Corruption in the regulatory process, at the state and local levels, is rampant and an open secret. Lately the Los Angeles Times has done a great job of investigating the problems with homelessness and trash piles, but their investigations stop short of fully placing blame where it belongs. People who are truly fed up with the condition of our state need to put their money where their mouth is and fund true investigative reporting (because you know Silicon Valley won’t be capitalizing any non-socialist journalistic startups).
Next, laws which prioritize criminals, homeless bums (as opposed to those who are homeless because of mental illness), and illegal immigrants over the state’s children and families must be revised or abolished. Did you know that a homeless bum’s shopping cart (which they stole from some business somewhere) is considered their “home” or “property” and cannot be taken away from them? Homeless people with true mental illness should be treated with the dignity they deserve (as Kurt Schlichter said on KABC today), and not left on the streets to fend for themselves.
The true causes of the third-world conditions in Los Angeles and San Francisco must be addressed. Some well-meaning laws or programs relating to homelessness are causing negative unintended consequences. In Los Angeles, some of the blame for the massive trash piles can be placed directly on City Hall – their RecycLA program resulted in massive increases in sanitation costs for businesses and missed pickups.
The state’s ballot harvesting law must be amended. Currently anyone – without ID or training – can pick up a ballot from any voter and turn it in to elections officials. The harvester has to sign their name to the outside of the ballot, but there is no process for elections officials to verify that the person turning in the ballot is the person who signed the outside, or that the name they used is actually their real name. The process is ripe for fraud.
These are all from 2019, and we’re no closer to any of them being implemented…
Lion Real Estate Group LLC, which has about 150 employees and $1 billion in assets under management, is moving its headquarters into office space at 3811 Turtle Creek Blvd., the company’s co-founders said in an exclusive interview with the Dallas Business Journal in January. The fast-growing real estate firm focuses on multifamily investment and is relocating its corporate headquarters to Dallas from Los Angeles.
The company will keep its Los Angeles office to support West Coast operations.
Lion Real Estate Group’s decision to relocate its headquarters to Dallas aligns with Lion’s strategy of acquiring multifamily assets outside of the urban core, both in Texas and in other high-growth cities across the Sunbelt and Southeast, said Jeff Weller, co-founder and managing principal of the firm…
The National Rifle Association, meanwhile, has retained Colliers International to help it scout space for a new corporate headquarters in DFW or elsewhere in Texas in the event it opts to pull the trigger on a prospective relocation from Northern Virginia.
The nonprofit intends to restructure as a Texas-based organization and has formed a committee to explore the prospect, which could include a headquarters move.
In court documents, the NRA asked the U.S. Bankruptcy Court in Dallas, the venue for its Chapter 11 reorganization, for permission to retain Colliers to help it find office space for rent or purchase. The search will mostly likely be focused on the “Dallas-Fort Worth region,” the court documents say.
The first few months of 2021 has sustained the momentum the area saw in 2020 when several companies decided to relocate to North Texas. Last year, one of the biggest corporate relocations to DFW was CBRE Group Inc. (NYSE: CBRE), the world’s largest commercial real estate services and investment firm, which moved its headquarters from Los Angeles to Dallas.
Financial services giant Charles Schwab moved its San Francisco headquarters to the North Texas community of Westlake at the start of this year, in a relocation announced in 2020.
Hundreds of small and midsize firms like Lion Real Estate and Wiley X have relocated to DFW over the last few years.
According to Dallas Regional Chamber, there are 102 major corporations considering headquarters relocation or expansion to North Texas currently.
“Jim Breyer, CEO of venture capital and private equity investor Breyer Capital, announced in August 2020 that Breyer Capital would be opening a second office in Austin. While Breyer Capital’s original office and interest in Silicon Valley remain, Breyer himself has also moved to Austin and is investing in what he sees as the city’s potential as an emerging tech hub.”
after lots of planning and due diligence, I decided that Austin was the best place for the next era of my venture capital and venture philanthropy career. With early, but compelling, signals that Austin is emerging as the next great tech hub, I couldn’t be more excited to play a role in helping another part of the country reach its potential. I believe there is an opportunity to get in near the ground floor and build something truly enduring.
Other friends from the Bay Area, like Palantir co-founder Joe Lonsdale, Dropbox CEO Drew Houston and Tesla’s Elon Musk, have made similar moves, along with many other tech industry leaders, so I’m not surprised that a so-called “Bay Area exodus” has become a widely reported trend.
But instead of focusing on the positives of Austin, many exodus narratives have focused on problems with the Bay Area. While critics make some fair points about rising living costs and government overreach, I would argue that Silicon Valley and Austin both have bright futures ahead. The things that made Silicon Valley special are not going anywhere. The Bay Area will continue to be a global hub of innovation that attracts courageous entrepreneurs, benefits from world-class institutions and nurtures talent from leading tech companies — even as Austin offers a remarkable new frontier of opportunity.
New Austinites all have different reasons for why they moved here, of course. My decision to start Breyer Capital Austin, for example, has more to do with Austin’s strengths than any of the Bay Area’s flaws.
For starters, Austin, more than any other city in the country, encourages a culture of interdisciplinary collaboration. Because the city has catered to so many types of professionals, and not just technologists, the depth of talent here is unique. Artists, entrepreneurs, doctors and professors, all at the top of their trade, frequently choose to build things together. By breaking down silos and embracing novel approaches to company-building, Austin’s diverse entrepreneurs will usher in a new era of growth for the city, state and country. I couldn’t be more excited to be investing in health care AI companies and fin-tech companies that have a consumer media backbone. The best founding teams are multifaceted and versatile, and Austin has every type of entrepreneur that a great company needs. This kind of interdisciplinary entrepreneurship will help Austin companies flourish.
Austin has attracted and will continue to attract young, brilliant talent because of its comparative affordability, outdoor culture and professional development opportunities. This vast pool of expertise is contributing to a remarkably robust climate of innovation. With Tesla, Facebook, Apple, Google, Oracle and other leading companies moving to or expanding in Austin, the entrepreneurial ecosystem will be bolstered when talent from these companies breaks away to start new ventures. Some of my best investments have been in entrepreneurs who gained valuable experience at an outstanding established company before starting their own. Five years from now, Austin will benefit from many tech company alums eager to leverage their expertise to tackle some of the world’s most pressing problems.
While it may be an overstatement to say California is hemorrhaging people, some of the state’s major companies and wealthiest residents are leaving for states like Texas, Arizona and Florida. In 2020, Oracle, Palantir and Hewlett-Packard Enterprise were among the companies that announced they’re relocating their headquarters out of the Golden State. Wealthy individuals from the tech industry moving recently include Larry Ellison, Drew Houston, Joe Lonsdale and Elon Musk, currently the world’s richest man.
California’s population and job growth have both slowed to a trickle, with many citing concerns about high taxes, cost of living and heavy regulations. With the rise of remote work in 2020, over 135,000 more people left California than moved in — the third largest net migration loss ever recorded for the state. Although some big names have committed to stay, one recent survey found that two of every three Bay Area workers would leave the area permanently if they could continue to work from home indefinitely.
It’s not just businesses that are moving out of California. Retirees are leaving in growing numbers.
For whatever reason they move, the retiree exodus is taking knowledge, wealth, patrons of the arts and potential philanthropy out of communities in the Golden State to the benefit of other places.
The trend dovetails with larger concerns about California’s affordability, business climate and economic disparities.
“It’s not just retirees moving. It’s companies. It’s rich people and poor people,” said Sanjay Varshney, professor of finance at California State University Sacramento and founder of Goldenstone Wealth Management LLC in El Dorado Hills.
Poorer people are leaving the state because “they can’t make ends meet” with the high cost of living and housing, he said. “And extremely wealthy people are moving because they are fed up.”
Varshney said a migration of wealthy people are leaving the Bay Area in particular, and “you are seeing that with people like Elon Musk and corporations like Oracle, Tesla and Hewlett Packard Enterprise.”
Retirees can easily leave California, as they are no longer tied to jobs in the state. “Retirees are a very mobile part of the population,” Varshney said
The trend appears to be growing. The California Public Employees’ Retirement System tracks where it sends benefits, and more of its members no longer call California home. Some 85% of CalPERS retirees lived in the state 2013. That dropped to 84% in 2018 and to 82.3% in 2020, according to the pension system.
The Greater Sacramento Economic Council’s mission is to attract companies to relocate to the Sacramento area. By the time companies decide to move out of the Bay Area, they are often soured on California taxes and regulations, and they tend to move out of the state completely, said Barry Broome, Greater Sacramento’s CEO.
The same can be said for individuals, he said.
“A lot of this is tax,” Broome said. California has higher business taxes and higher individual tax rates than most other states.
To live in California at this time is to experience every day the cryptic phrase that George W. Bush once used to describe the invasion of Iraq: “Catastrophic success.” The economy here is booming, but no one feels especially good about it. When the cost of living is taken into account, billionaire-brimming California ranks as the most poverty-stricken state, with a fifth of the population struggling to get by. Since 2010, migration out of California has surged.
The basic problem is the steady collapse of livability. Across my home state, traffic and transportation is a developing-world nightmare. Child care and education seem impossible for all but the wealthiest. The problems of affordable housing and homelessness have surpassed all superlatives — what was a crisis is now an emergency that feels like a dystopian showcase of American inequality.
And yet, it’s not really American inequality. It’s the kind of inequality produced by failed leftist policies. Picture today’s San Francisco:
Yet the streets there are a plague of garbage and needles and feces, and every morning brings fresh horror stories from a “Black Mirror” hellscape: Homeless veterans are surviving on an economy of trash from billionaires’ mansions. Wealthy homeowners are crowdfunding a legal effort arguing that a proposed homeless shelter is an environmental hazard. A public-school teacher suffering from cancer is forced to pay for her own substitute.
Manjoo emphasizes that San Francisco is run entirely by Democrats. It has become difficult to blame it on Republicans when there are no Republicans.
“Rats at the police station, filth on L.A. streets — scenes from the collapse of a city that’s lost control.”
The good news is that two trash-strewn downtown Los Angeles streets I wrote about last week were cleaned up by city work crews and have been kept that way, as of this writing.
The bad news is that I didn’t have to travel far to find more streets just as badly fouled by filthy mounds of junk and stinking, rotting food.
Then there was the news that the LAPD station on skid row was cited by the state for a rodent infestation and other unsanitary conditions, and that one employee there was infected with the strain of bacteria that causes typhoid fever.
What century is this?
Is it the 21st century in the largest city of a state that ranks among the world’s most robust economies, or did someone turn back the calendar a few hundred years?
We’ve got thousands of people huddled on the streets, many of them withering away with physical and mental disease. Sidewalks have disappeared, hidden by tents and the kinds of makeshift shanties you see in Third World places. Typhoid and typhus are in the news and an army of rodents is on the move.
On Thursday I saw a county health inspector on rat patrol between 7th and 8th streets on skid row. He was carrying a clipboard and said he had found droppings and other evidence of rodents, and I asked where:
“Everywhere,” he said.
Well, it’s nice to know somebody is doing something, but you don’t need a clipboard. I’ve seen so many rats the last two weeks in downtown Los Angeles, I have to suspect they’re plotting a takeover of City Hall, which vermin infiltrated last year.
The city of Los Angeles has become a giant trash receptacle. It used to be that illegal dumpers were a little more discreet, tossing their refuse in fields and gullies and remote outposts.
Now city streets are treated like dumpsters, or even toilets — on Thursday, the 1600 block of Santee Street was cordoned off after someone dumped a fat load of poop in the street. I’m not sure when any of this became the norm, but it must have something to do with the knowledge that you can get away with it. Every time sanitation crews knock down one mess, another dumpsite springs up nearby.
California is the great role model for America, particularly if you read the Eastern press. Yet few boosters have yet to confront the fact that the state is continuing to hemorrhage people at a higher rate, with particular losses among the family-formation age demographic critical to California’s future.
Since the recovery began in 2010, California’s net domestic out-migration, according to the American community survey, has almost tripled to 140,000 annually. Over that time, the state has lost half a million net migrants with the bulk of that coming from the Los Angeles-Orange County area.
In contrast, during the first years of the decade the Bay Area, particularly San Francisco, enjoyed a renaissance of in-migration, something not seen since before 2000. But that is changing. A recent Redfin report suggests that the Bay Area, the focal point of California’s boom, now leads the country in outbound home searches, which could suggest a further worsening of the trend.
One of the perennial debates about migration, particularly in California, is the nature of the outmigration. The state’s boosters, and the administration itself, like to talk as if California is simply giving itself an enema — expelling its waste — while making itself an irresistible beacon to the “best and brightest.”
The reality, however, is more complicated than that. An analysis of IRS data from 2015-16, the latest available, shows that while roughly half those leaving the state made under $50,000 annually, half made above that. Roughly one in four made over $100,000 and another quarter earned a middle-class paycheck between $50,000 and $100,000. We also lose among the wealthiest segment, the people best able to withstand California’s costs, but by much smaller percentages.
The key issue for California, however, lies with the exodus of people around child-bearing years. The largest group leaving the state — some 28 percent — is 35 to 44, the prime ages for families. Another third come from those 26 to 34 and 45 to 54, also often the age of parents.
Every day, Texans are reminded why letting liberal democrats take over this state would be a terrible idea.
In a new report released by S&P Global Ratings, Texas has been ranked among the most recession-proof states in the country, according to a variety of factors.
Texas’ fiscal strength stems from conservative state legislators’ insistence against implementing a personal income tax or increasing other taxes. Also important has been the push by Gov. Abbott and Lt. Gov. Dan Patrick to slow the rate of spending growth and refusal to dip into the state’s “rainy day fund” for non-emergency spending.
Magnificent in the distance, San Francisco is now shockingly ugly up close. In the decade I have lived here, the city has achieved the seemingly impossible: It has combined the expensive and the bland and the appalling into a new form of decadence. To the untrained eye, it looks magical: a city of the future, a city of gasps. Then, slowly, it reveals itself to be a city of lies, one that dismisses the idea of city living.
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Running a venture-capital fund that invests as early as possible in startups, I now see fewer and fewer companies choosing to come launch here. When we opened our doors in 2015, maybe 80 percent of our investments were in Bay Area companies. Last year [2018], half of them were, and we expect to see that number decrease even more in the years ahead. Andreessen-Horowitz, the famed Silicon Valley VC firm, has announced that it’s becoming more or less a hedge fund, presumably to focus on later-stage opportunities. Peter Thiel, who had lived here since the mid 90s, has now decamped to Los Angeles, and says there is a less than 50 percent chance the next great tech company will arise in an increasingly expensive, conformist Silicon Valley.
“Silicon Valley is now more fashion than opportunity,” Thiel told the Swiss newspaper Neue Zürcher Zeitung. “The heads are the same.”
Lack of independent thought aside, the Economist has identified the source of the problem: You can’t build a successful startup from a garage if a garage costs a million bucks. The flow of new creations is being choked off first and foremost because there are fewer cheap places for new things to start.
The median rent for a one-bedroom apartment in San Francisco recently hit $3690 per month, 30 percent greater than in New York City. Over the last decade, the Bay Area has added 722,000 jobs but built only 106,000 new homes. Proposition M, passed in the 1980s to avoid “Manhattanization,” limits the supply of office space. The city’s average Class A asking rent has risen 124 percent since 2010 to over $80 per square foot.
The legendary urbanist Jane Jacobs once remarked that new ideas come from old buildings, the types of places you can alter without permission because no one cares about them. This is one reason why so many garage startups and garage bands and artists spilling paint in discarded warehouse lofts have left their mark on the world. The true creative class can’t afford to rent expensive new studios.
But in San Francisco, the true creative class can’t afford to rent any space anymore.
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Up and down the city’s disorienting hills, you notice homeless men and women — junkies, winos, the dispossessed — passed out in the vestibules of empty storefronts on otherwise busy streets. Encampments of tents sprout in every shadowy corner: under highway overpasses, down alleys. Streets are peppered with used syringes. Strolling the sidewalks, you smell the faint malodorous traces of human excrement and soiled clothing. Crowded thoroughfares such as Market Street, even in the light of midday, stage a carnival of indecipherable outbursts and drug-induced thrashings about which the police seem to do nothing.
The confused mumble, the incoherent finger-pointing tirade, the twitch, the cold daemonic stare, the drunken stumble and drool — these are the rhythms of a city on the edge of a schizophrenic explosion.
1) Assume that a state with among the highest income, sales and gas taxes has commensurately among the nation’s worst roads. Therefore, do not become depressed by blood alleys, potholes, bullet-holed and graffiti stained road signs, or roads unchanged from a half-century ago when the population was less than half of what it is today. You are an adventurer on the frontier, not a complacent commuter or traveler. Approach the next few hours as a challenge rather than a nightmare. Envision a California road trip like Odysseus did his on voyage on the Aegean.
2) It is wiser not to use the restrooms on any California cross-country drive. Excrement can be many places other than in the toilet. Also, fill up before starting. Don’t count on finding gas stations that are not overcrowded or have all their pumps working—even the ones with national affiliations that look as inviting from the off-ramp as Circe’s smile.
My favorite is one where all the tiny glass windows at the pumps where the electronic instructions guide you are either broken or scratched out. My second favorite one was where the pump had no hose and no sign saying it had no hose. In California, you often fill up by holding the pump handle down nonstop, given the automatic levers are broken or missing. A state law requires emergency free air and water services for all gas station customers; perhaps because it’s mandatory, the air and water dispensers usually do not work.
3) Assume “Mad Max” conditions at any time. Contraptions can pose as vehicles in the most regulated vehicle state in the nation (there is a reason why the California DMV is dysfunctional). Cars can still tow each other, 1950s-style, with sagging rope. Expect a piece of lumber or a mattress to go Frisbee on every other trip. Anticipate that a quarter of the drivers have bad brakes, worse tires, and ignore or cannot read signs and posted warnings. The person who passes you at 90 miles per hour likely does not have a license, or registration, or insurance—or, perhaps, any of the three.
One reason companies are abandoning California in droves: “A Mountain View tech CEO is beyond frustrated after he says his vehicles have been broken into four times in the past 18 months while parked in the same city lot.” That was from 2019. I doubt it’s gotten any better.
2018: California wants to run the world’s most expensive bullet train, but can’t even run a competent DMV.
In April 2016, California Gov. Jerry Brown signed the state’s $15-an-hour minimum wage law into effect.
As a consequence, the minimum wage went from $10 an hour to $10.50 an hour for businesses with 26 or more employees on January 1, 2017. On January 1 of this year, the minimum wage was hiked again to $11.00 an hour for larger employers and $10.50 for businesses with 25 or fewer employees.
Federal jobs data for 2018 suggests that California’s rural manufacturing base might be getting hammered by the higher mandated minimum wage.
Unless a future governor waives the scheduled increases due to economic weakness, the government mandated hourly wage hikes will keep coming—$1 per hour every year—until they reach $15 an hour four years from now for large employers with smaller employers hitting $15 in 2023. After that, future increases are pegged to national consumer price index for urban wage earners and clerical workers.
Many factors affect regional job creation and wage growth. Availability of suitable labor, energy and land costs, infrastructure, including access to clean water and well-maintained roads, as well as state and local taxes, the regulatory burden and the lawsuit environment. Measured against these factors, California has significant challenges.
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California’s 2017 retail electric prices were 89 percent higher than in its peer competitor, Texas. California’s gasoline prices remain the highest in the contiguous 48 states, at $3.619 per gallon of unleaded, some 26 percent higher than the national average of $2.865.
California’s once-vaunted water storage and conveyance system has been essentially frozen in time for decades, as the state’s politicians spend billions on environmental programs and studies and precious little on expending and securing California’s water supply.
California’s highway system, once the envy of the world, has similarly been put at the bottom of the priority list, regularly being ranked at the tail end of national surveys. Further, the state’s union labor agreements and environmental approval maze contribute to the state’s road maintenance costs being almost 40 percent higher than the national average.
As for state and local taxes, Forbes ranked California as 45th-worst in 2016.
The U.S. Chamber of Commerce meanwhile rated California as having the 47th-worst lawsuit climate in the nation last year.
The regulatory burden on small business was studied in a report authorized by the California legislature 10 years ago which found that small businesses faced a complex puzzle of state and local rules that cost about $134,000 per year in compliance costs.
Voters approved retroactive pension increases 10 times between 1996 and 2008, thus leaving the San Francisco Retirement System underfunded and a drain on the operating budget.
The city and county of San Francisco owes the retirement system a massive $5.8 billion – more than half the city’s entire general-fund budget.
“Californians fed up with housing costs and taxes are fleeing state in big numbers.” “Census Bureau data show California lost just over 138,000 people to domestic migration in the 12 months ended in July 2017.”
2017: “Thanks to the declaration of being a Sanctuary City, San Fran L.A. and other criminal cities have done what is not possible. ICE has announced it is sending hundreds of agents to these cities—that means illegal aliens are now in greater danger of being deported, thanks to the policies of the Democrats. Yup, now the illegal aliens in these cities have a reason to fear deportation—De Leon, Mayors Lee and Garcetti have put a target on their backs.”
The heroin needles, the pile of excrement between parked cars, the yellow soup oozing out of a large plastic bag by the curb and the stained, faux Persian carpet dumped on the corner.
It is a scene of detritus that might bring to mind any variety of developing-world squalor. But this is San Francisco, the capital of the nation’s technology industry, where a single span of Hyde Street hosts an open-air narcotics market by day and at night is occupied by the unsheltered and drug-addled slumped on the sidewalk.
There are many other streets like it, but by one measure it is the dirtiest block in the city.
Just a 15-minute walk away are the offices of Twitter and Uber, two companies that along with other nameplate technology giants have helped push the median price of a home in San Francisco well beyond a million dollars.
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According to city statisticians, the 300 block of Hyde Street, a span about the length of a football field in the heart of the Tenderloin neighborhood, received 2,227 complaints about street and sidewalk cleanliness over the past decade, more than any other. It is an imperfect measurement — some blocks might be dirtier but have fewer calls — but residents on the 300 block say that they are not surprised by their ranking. The San Francisco bureau photographer, Jim Wilson, and I set out to measure the depth of deprivation on a single block. We returned a number of times, including a 12-hour visit, from 2 p.m. to 2 a.m. on a recent weekday. Walking around the neighborhood we saw the desperation of the mentally ill, the drug dependent and homeless, and heard from embittered residents who say it will take much more than a broom to clean up the city, long considered one of the United States’ beacons of urban beauty.
San Francisco is now so filthy that “a major medical association is pulling its annual convention out of the city — saying its members no longer feel safe.” From 2018, back when people still had conventions. (Hat tip: Ann Althouse.)
The latest “benefit” of California’s “high speed rail” boondoggle: Longer traffic delays for “blended” traffic that isn’t high speed at all. (Hat tip: Ace of Spades HQ.)
In 2019, the Texas Permian Basin became the world’s largest oil-producing region, pumping out more oil than Saudi oil fields. Who knows if that will change under Biden…
“If everyone in the middle class is leaving, that’s actually a good thing. We need these spots opened up for the new wave of immigrants to come up. It’s what we do. We export our middle class to the United States. You guys should be thanking us for that,” Singam said to a stunned Carlson.
Of course, he also says that “Soon enough Texas will be a blue state,” so there’s an unusually high degree of “talking out your ass” going on here… (Hat tip: Ed Driscoll at Instapundit.)
The SpaceX South Texas launch site, which first broke ground in September 2014, is a rocket production facility, test site, and spaceport located at Boca Chica approximately 20 miles east of Brownsville, Texas, on the Gulf Coast. The South Texas Launch Site is SpaceX’s fourth active suborbital launch facility, and first private facility.
By March of last year, SpaceX had over 500 employees working at the Boca Chica site, Ars Technica reported. Four shifts work 24/7 — in 12-hour shifts with four days on and three days off followed by three days on and four off — enabling the continuous manufacturing of his Starship flight rocket with workers and equipment specialized to each task of serial Starship production.
According to a 2014 Brownsville Economic Development Council report, the facility was projected to generate $85 million worth of economic activity in Brownsville and eventually generate roughly $51 million in annual salaries from new jobs created by 2024.
Part of this money is coming directly from Musk. Musk tweeted that he is donating $20 million to schools in Cameron County and $10 million to the city of Brownsville for revitalization efforts, both of which are near SpaceX.
“Please consider moving to Starbase or greater Brownsville/South Padre area in Texas & encourage friends to do so! SpaceX’s hiring needs for engineers, technicians, builders & essential support personnel of all kinds are growing rapidly,” Musk tweeted on Tuesday. “Starbase will grow by several thousand people over the next year or two.”
Amid raging wildfires, rolling blackouts and a worsening coronavirus outbreak, it has not been a great year for California. Unfortunately, the state is also reeling from a manmade disaster: an exodus of thriving companies to other states. In just the past few months, Hewlett Packard Enterprise said it was leaving for Houston. Oracle said it would decamp for Austin. Palantir, Charles Schwab and McKesson are all bound for greener pastures. No less an information-age avatar than Elon Musk has had enough. He thinks regulators have grown “complacent” and “entitled” about the state’s world-class tech companies. No doubt, he has a point. Silicon Valley’s high-tech cluster has been the envy of the world for decades, but there’s nothing inevitable about its success. As many cities have found in recent years, building such agglomerations is exceedingly hard, as much art as science. Low taxes, modest regulation, sound infrastructure and good education systems all help, but aren’t always sufficient. Once squandered, moreover, such dynamism can’t easily be revived. With competition rising across the U.S., the area’s policy makers need to recognize the dangers ahead.
In recent years, San Francisco has seemed to be begging for companies to leave. In addition to familiar failures of governance — widespread homelessness, inadequate transit, soaring property crime — it has also imposed more idiosyncratic hindrances. Far from welcoming experimentation, it has sought to undermine or stamp out home-rental services, food-delivery apps, ride-hailing firms, electric-scooter companies, facial-recognition technology, delivery robots and more, even as the pioneers in each of those fields attempted to set up shop in the city. It tried to ban corporate cafeterias — a major tech-industry perk — on the not-so-sound theory that this would protect local restaurants. It created an “Office of Emerging Technology” that will only grant permission to test new products if they’re deemed, in a city bureaucrat’s view, to provide a “net common good.” Whatever the merits of such meddling, it’s hardly a formula for unbounded inventiveness.
These two traits — poor governance and animosity toward business — have collided calamitously with respect to the city’s housing market. Even as officials offered tax breaks for tech companies to headquarter themselves downtown, they mostly refused to lift residential height limits, modify zoning rules or allow significant new construction to accommodate the influx of new workers. They then expressed shock that rents and home prices were soaring — and blamed the tech companies. California’s legislature has only made matters worse. A bill it enacted in 2019, ostensibly intended to protect gig workers, threatened to undo the business models of some of the state’s biggest tech companies until voters granted them a reprieve in a November referendum. A new privacy law has imposed immense compliance burdens — amounting to as much as 1.8% of state output in 2018 — while conferring almost no consumer benefits. An 8.8% state corporate tax rate and 13.3% top income-tax rate (the nation’s highest) haven’t helped.
The third and most ignored reason California doesn’t use much electricity is that their tax and regulatory policies and high costs of doing business have steadily driven out industries that use a lot of energy to manufacture things such as steel and cement.
There’s irony in this, of course, and it’s this: California’s environmentally-minded leaders like to tout the virtue of their post-industrial policies, but in deindustrializing wide swaths of their economy, they have merely outsourced the energy use—and pollution—to other places and then, to add insult to injury, pay to have it shipped to California in carbon-emitting ships, planes, trains, and trucks.
In terms of electric production, California is the nation’s biggest importer of electricity. In the past, this meant a lot of coal-fired power from places such as Arizona and Utah.
But a law passed in 2006 alongside the state’s more famous AB 32, the Global Warming Solutions Act, effectively banned the renewal of power contracts from traditional out-of-state coal-powered generators.
As a result, “electron laundering” has arisen to fill the gap. This occurs when Californians, in the quest for green electrons to power their grid, pay British Columbians for hydropower, which the Canadians are happy sell, as they backfill their own power needs with coal power from Washington State and Alberta. It works out for everyone: California gets higher-priced power that they can claim is green, while the Canadians get American greenbacks to fund their national health care system.
To cover their tracks and keep the green mirage intact, California authorities invented a new category of imported power called “Unspecified Sources of Power” that magically provided 9.25% of California’s electric needs last year. Prior to becoming politically incorrect, these power imports were simply labeled “coal.”
In the meantime, Californians paid an average of 18.41 cents per kilowatt hour for their electricity in July 2018, 67% higher than the national average and more than double the cost of electricity in Texas. In August, California’s rates jumped to 19.08 per kWh, 110% higher than Texas’ rates. In fact, Californians’ July and August electric rates were the highest in the contiguous 48 states.
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In contrast, Texas pursued a market-based electric policy through deregulation. While liberal consumer advocates were quick to claim failure in the first couple of years after the 2002 electric competition law passed as higher prices signaled more producers to enter the market, in the years since, Texans have seen their retail inflation-adjusted electricity prices decline by 32 percent from 2008 to 2017.
California has hooked up a grid battery system that is almost ten times bigger than the previous world record holder, but when it comes to making renewables reliable it is so small it might as well not exist.
The new battery array is rated at a storage capacity of 1,200 megawatt hours (MWh); easily eclipsing the record holding 129 MWh Australian system built by Tesla a few years ago. However, California peaks at a whopping 42,000 MW. If that happened on a hot, low wind night this supposedly big battery would keep the lights on for just 1.7 minutes (that’s 103 seconds). This is truly a trivial amount of storage.
Mind you this system is being built to serve just Pacific Gas & Electric. But they by coincidence peak at about half of California, or 21,000 MWh, so they get a magnificent 206 seconds of peak juice. Barely time to find the flashlight, right?
There is no word on what this trivial giant cost, since PG&E does not own it. That honor goes to an outfit called Vistra that does a lot of different things with electricity and gas. But these complex battery systems are not cheap.
This one reportedly utilizes more than 4,500 stacked battery racks, each of which contains 22 individual battery modules. That is 99,000 separate modules that have to be made to work well together. Imagine hooking up 99,000 electric cars and you begin to get the picture.
The US Energy Information Administration reports that grid scale battery systems have averaged around $1.5 million a MWh over100% renewable deception the last few years. At that price this trivial piece of storage cost just under TWO BILLION DOLLARS. At 103 seconds of peak storage that is about $18,000,000 a second. Money for nothing.
Mind you the PG&E engineers are not that stupid. They know perfectly well that this billion dollar battery is not there to provide backup power when wind and solar do not produce. In fact the truth is just the opposite. The battery’s job is to prevent wind and solar power from crashing the grid when they do produce.
It is called grid stabilization. Wind and solar are so erratic that it is very hard to maintain the constant 60 cycle AC frequency that all our wonderful electronic devices require. If the frequency gets more than just a tiny bit off the grid blacks out. Preventing these crashes requires active stabilization.
Grid instability due to erratic wind and solar used to not be a problem, because the huge spinning metal rotors in the coal, gas and nuclear power plant generators simply absorbed the fluctuations. But most of those plants have been shut down, so we need billion dollar batteries to do what those plants did for free. Nor is this monster battery the only one being built in California to try to make wind and solar power work. Many more are in the pipeline and not just in California. Many states are struggling with instability as baseline generators are switched off.
There is even an insane irony here, one that is perfect for Crazy California. This billion dollar battery occupies the old generator room of a shut down gas fired power plant. Those generators used to make the grid stable. Now we are struggling to do it.
The drugstore, which serves many older people who live in the Opera Plaza area, is the seventh Walgreens to close in the city since 2019.
“All of us knew it was coming. Whenever we go in there, they always have problems with shoplifters, ” said longtime customer Sebastian Luke, who lives a block away and is a frequent customer who has been posting photos of the thefts for months. The other day, Luke photographed a man casually clearing a couple of shelves and placing the goods into a backpack…
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he Walgreens clerks can’t do anything about the theft because the company has a policy preventing them from interfering in shoplifting. Allegedly this is for their safety but I suspect it’s really because if they didn’t have this policy and anyone got hurt, they would be sued.
And trying to stop this wave of thieves would be like throwing a pebble in a stream. It wouldn’t make any real difference anyway. A theft of less than $950 is a misdemeanor in California and even if the shoplifters get arrested they would likely be back on the streets almost immediately.
Cal State system to drop remedial English classes, even though “nearly 40 percent of freshmen arrive each fall unprepared to do college work in English, math, or both.” Maybe they plan to move to entirely Emoji-based classes…
Texas places six cities among the top 20 fastest growing in the U.S. between 2000 and 2016. But they’re probably not the ones you’d think: Odessa, Pearland, Brownville and Midland all make the top 10.
California employee suing GrubHub for wrongful termination and to be reclassified as an employee rather than an independent contractor, isn’t exactly the ideal plaintiff, admitting he didn’t read the entire employment contract and lied on his application.
The myth that America suffers a scarcity of teachers is promulgated by the teachers’ unions and their supporters in the education establishment. On the California Teachers Association website, we read that “California will need an additional 100,000 teachers over the next decade.” But this statistic simply means that CTA expects about a 2.8 percent yearly attrition rate, and will need to hire 10,000 teachers per annum over a ten-year period to maintain current staffing levels—more of an actuarial projection than an alarming call for action. (The union adds that California must hire even more teachers to “reduce class size so teachers can devote more time to each student.” The claim that small class size benefits all students—another union promulgated myth—means more teachers, which translates to more dues money for the union.) In reality, California is following the national trend in overstaffing. According to the Legislative Analyst’s Office, California had 332,640 teachers in 2010. By 2015, there were 352,000. But the student population has been virtually flat, moving from 6.22 million in 2010 to 6.23 million in 2016.
True, legitimate general shortages exist in some school districts, while other districts may lack teachers in certain areas of expertise, like science and technology. Workers in these fields can earn higher salaries in the private sector; one solution would be to pay experts in these subjects more than other teachers as a way to lure them into teaching. Unfortunately, that’s not possible: throughout much of the country, and certainly in California, salaries are rigorously defined by a teacher union-orchestrated step-and-column pay regimen, which allows no room for flexibility in teacher salaries.
What’s necessary is to break up the unaccountable Big Government-Big Union education duopoly. More school choice, from privatization to charter schools, could go a long way toward solving the teacher glut. The government-education complex will always try to squeeze more money from the taxpayers, irrespective of student enrollment. Its greed has nothing to do with teacher shortages, small class sizes, educational equity, or any other rationale it can come up with: paramount to the interest of the educational bureaucracy is more jobs for administrators, and more dues money for the unions, which they use to buy and hold sway over school boards and legislators. While there is a surfeit of teachers and administrative staff, clarity and transparency regarding the reality of union control of the schools are scarce indeed.
From Santa Rosa to San Jose, more and more residents are making the bittersweet decision to leave the Bay Area, abandoning its near-perfect weather, booming economy and thriving arts, culture and food scenes in favor of less-glamorous destinations like Austin, Boise and Knoxville.
Some are fleeing the Bay Area’s sky-high housing and rent prices, both among the most expensive in the nation. Others are cashing out, selling their homes to get more for their money in a less expensive city. Nearly all of them are fed up with miserable, hours-long commutes on snarled freeways.
More people are leaving the Bay Area than are moving in, according to a 2018 report by the Silicon Valley Leadership Group and Silicon Valley Community Foundation. An average of 42 people left San Francisco, San Mateo and Santa Clara counties each month in 2016, the most recent year for which data was available. That’s a sharp uptick from the year before, when the region gained an average of 1,962 residents per month.
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The couple will miss the church and community they’re leaving behind. But Pullen and Preuss, who describe themselves as politically moderate, won’t miss the Bay Area’s “super progressive politics.”
Kieran Blubaugh dreamed of living in California when he was growing up in Indiana. He played the Tony Hawk Pro Skater video game and envisioned himself skateboarding down San Francisco’s crazy hills.
After paying off his student loans four years ago, he landed a job with a tech company and moved to San Francisco. At first, life was heavenly. He had a seven-minute commute on his motorcycle. He could pay $30 to see Incubus, one of his favorite bands, a short walk from his apartment.
Soon, however, his California dream soured. Thieves broke into his locked garage and did $8,000 worth of damage to his motorcycle, doubling his insurance rates. His dog nearly died after eating human feces on the sidewalk. Seeing people either getting arrested or being treated for an overdose outside a nearby building was a regular occurrence.
“And I live in a nice part of town,” said Blubaugh, 33.
Not anymore. On Saturday, Blubaugh moved out of the $4,000-a-month two-bedroom apartment he shared on Russian Hill and moved to Dallas, where he will pay $1,300 a month for a place the same size.
It’s not that he set out to ditch San Francisco for Dallas. “But it was the financially responsible thing to do,” he said.
Also: “We need more police. There’s a general lawlessness that’s just scary.”
2018: California’s Democratic Party goes hard left: “The rejection of Feinstein reveals the eclipse of the moderate, mainstream Democratic Party, and the rise of Green and identity-oriented politics, appealing to the coastal gentry . It offers little to traditional middle-class Democrats and even less to those further afield, in places like the industrial Midwest or the South.”
2017: “San Diego is awash with ‘fecal matter’ due to lack of public toilets and surging rates of homeless people, health officials warn as they try to control the hepatitis A outbreak.”
Everybody wants to leave California: “The taxes are higher here, the services are worse, educations worse, the roads are poor. You go to Texas – they have no personal income tax, they have great roads, they have a free government encouraging innovation.”
2017: “Security robots are being used to ward off San Francisco’s homeless population.”
2018: “Cost for California bullet train system rises to $77.3 billion.” Also this: “The rail authority also said the earliest trains could operate on a partial system between San Francisco and Bakersfield would be 2029 — four years later than the previous projection. The full system would not begin operating until 2033.”
At some point I stopped collecting links for the doomed high speed rail project, but guess what? It still clings to undead life:
California’s bullet train has become a nearly forgotten source of trouble, eclipsed in the public eye by Covid-19, a gubernatorial recall, and out-migration from the Golden State. But it’s still out there, sucking up time and money, and as empty as it ever was.
The California High Speed Rail, its formal name, was a hobby-ego project for former governor Jerry Brown that was supposed to move passengers between Los Angeles and San Francisco at 220 mph by 2020. Instead, the project is moving at the speed of the museum piece it sometimes appears destined to be. Not a single train has run, with train testing still six to seven years away, amid seemingly never-ending delays.
The news regarding the project is, as usual, dismal. As the Los Angeles Times reported in January, Ghassan Ariqat, vice president of operations at bullet-train contractor Tutor Perini, sent a “scorching” letter to California officials criticizing persistent construction delays, “contradicting state claims that the line’s construction pace is on target,” and warning that the project could miss “a key 2022 federal deadline.” “It is beyond comprehension that as of this day, more than two thousand and six hundred calendar days after [official approval to start construction], the authority has not obtained all of the right of way,” Ariqat wrote. Because of the sluggish construction pace, he added, his company “will have to lay off a significant number of its field workers in the very near future” after already letting 73 walk.
Ariqat has good reason to be agitated. If there’s been a more poorly run public works project in California history, nobody can remember it. Two years ago, a senior fellow at the Eno Center for Transportation, a nonpartisan think tank, called California’s high-speed rail an outright “failure” that has “suffered from at least seven identifiable ‘worst practices,’” causing it “to be indefinitely delayed.”
“California Rep. Tony Cardenas (D-San Fernando). The chair of the Congressional Hispanic Caucus’ Bold PAC since 2014, who took fundraising from $1 million to $6 million in just one year, is accused of drugging and molesting a 16-year-old girl in 2007.” (Hat tip: Director Blue.) Evidently the lawsuit was dropped in 2019.
The USC Medical School Dean who was also a drug addict.
The Round Rock Chamber announced Friday that Ametrine, Inc. has selected Round Rock as the company’s new U.S. headquarters in a move that will create some 140 good-paying jobs.
Founded in 2011, Ametrine is a manufacturer of unique, advanced multispectral camouflage systems with its current headquarters in Rockville, Maryland. Ametrine produces patented nano-technology materials and is consistently awarded research and development projects through the U.S. Department of Defense.
“We started the search for our new U.S. headquarters almost a year ago,” Ametrine CEO Brandon Cates said in a prepared statement. “We compared thirteen cities in five states using twelve evaluation criteria and came to the conclusion that Round Rock would be the best fit for the future of our business. Round Rock has been very forward-thinking when it comes to supporting the defense industry, and we anticipate future collaboration with the city, the chamber, and the other innovative companies that Round Rock attracts.”
Back in the Grapes of Wrath days, people fleeing the Dust Bowl for California were derisively called "Okies." I think we should derisively mock people arriving from California as "Fornies"
A little-known super PAC seeded with Silicon Valley money plans to lead four other outside groups in a $28 million TV ad blitz to try to help Democrat MJ Hegar unseat Texas Sen. John Cornyn.
Future Forward’s own ads began airing Tuesday, according to ad-tracking service Advertising Analytics. Through Monday, it reserved nearly $2.4 million of time slots in 19 Texas TV markets as well as Shreveport, La.
The ads are part of a planned deluge of advertising for Hegar in the election’s final two weeks that’s being orchestrated by the super PAC’s leader, Facebook co-founder Dustin Moskovitz, with assists from four other Democratic groups, the news site Recode first reported.
On Wednesday, Hegar’s campaign announced it began airing on Black radio stations across Texas a 60-second ad in which former President Barack Obama expounds on why he recently endorsed her.
In the ad, Obama extols Hegar’s record as a veteran who served in Afghanistan, a working mother who he said will defend the Affordable Care Act and a politician “firmly committed to making the reforms we need to address systemic racism and create a more fair and equitable America.” Hegar’s runoff opponent in the Democratic primary, Dallas state Sen. Royce West, an African American, has has not specifically retracted an Oct. 9 statement that he would not vote for Hegar in the general election.
The Obama spot will run in 14 cities, including Dallas, said Hegar spokeswoman Amanda Sherman.
Asked how much Hegar would spend on the ad, Sherman replied, “This is part of the seven-figure investment we announced to mobilize the Black vote.” She referred to buys that began Oct. 8.
Citing a confidential memo circulated to major donors last week, Recode said the $28 million of ad buys will include $10 million from New York Sen. Chuck Schumer’s Senate Majority PAC, which on Thursday announced an $8.6 million TV buy to help Hegar. The $8.6 million is part of the $28 million of late advertising being planned.
On the super PAC-led effort against Cornyn, Recode reported that the other groups assisting Future Forward in the push are Strategic Victory Fund, Way to Win, and Mind the Gap. Recode is a former technology news site that last year joined forces with Vox Media to probe Silicon Valley’s influence on politics.
A Cornyn spokesperson accused Hegar of hypocrisy, recalling that the Democrat has run on overturning a 2010 Supreme Court decision, Citizens United v. FEC, which said the First Amendment forbids restrictions of independent political expenditures by corporations.
“MJ has completely abandoned her principles, broken her promises and is selling out Texans to the highest bidder in California,” Cornyn press secretary Krista Piferrer said in a written statement. “This is a defining moment that shows exactly how untrustworthy her word really is, and how willing she is to look the other way so long as she personally benefits.”
Democrats whining about Cornyn snipped.
On Tuesday, Future Forward planned to report to the Federal Election Commission that it raised $66 million between Sept. 1 and Thursday, with big donations from Silicon Valley billionaires Jeff Lawson, founder of cloud platform Twilio; Eric Schmidt, veteran chief executive of Google; and Moskovitz, according to Recode.
I’m sure this news was not well-received at Cornyn headquarters, but I find it hard to work up any anxiety over the ad buy:
Hegar is a retread. She couldn’t beat the far more beatable John Carter in a U.S. congressional race in the Year of Beto, which gives me zero reason to believe she can step up and beat Cornyn in a presidential year.
Speaking of Beto, he had all the money and favorable press in the world and still couldn’t beat Ted Cruz, a politician measurably more controversial than John Cornyn.
Speaking of Cornyn’s measurable, the last time he was on the ballot he garnered the most votes of any statewide candidate, pulling in a hefty 2,855,068 votes, more than 1,200,000 more than hapless Democratic opponent David Alameel. That was the year Greg Abbott beat Wendy Davis like a rented mule, and Cornyn did better than Abbott. This year will be closer, but Cornyn will almost certainly exceed the 4,260,553 votes Ted Cruz won in 2018, and will likely even top the 4,685,047 votes Donald Trump carried in Texas in 2016. (I fully expect Trump to top his 2016 total as well.)
One of the most persistent myths in politics is that big TV ad buys can magically swing races. Ask Jeb Bush, Tom Steyer and Michael Bloomberg how well that strategy worked out for them. Last minute ad buys can swing extremely close races, but less than two weeks before election day, they certainly can’t conjure new voters out of thin air.
As in 2018, national Republicans have to be pleased that Democrats are once again dumping money into a Texas senate race rather than those in Iowa, Maine, North Carolina or Arizona. But those inside the liberal media bubble keep getting high on their own supply, and thus keep believing the “Texas is about to turn blue” myth.
All that said, as in 2018, all that up-ballot money could make it harder for Republicans to recapture some of the down-ballot seats that flipped in 2018. But late TV ad money is a lot less effective than early organizing money.
More Q1 numbers are trickling out. Harris, Sanders and O’Rourke all did well, Gillibrand and Castro did poorly. Insert your own Biden as Hamlet sentence here.
Fundraising
More Q1 fundraising numbers, continued from last week, with new additions announced
Bernie Sanders: $18.2 million from 525,000 donors
Kamala Harris: $12 million from 138,000 donors
Beto O’Rourke: $9.4 million from 218,000 contributions (number of donors not specified)
For the sake of comparison, incumbent president Donald Trump pulled in pulled in $30 million, and has $40 million in hand.
Polls etc.
Emerson: Sanders 29, Biden 24%, Buttigieg 9%, Harris and O’Rourke at 8%. I think that’s the first poll that had Sanders over Biden, or Buttigieg over Harris and O’Rourke.
Washington Post‘s The Fix rates the candidates in order of likeliness to be a nominee. Any list that ranks Warren third and Biden sixth can’t be taken seriously.
Heh: “Scientists Recommend Reducing The Number Of Democratic Presidential Candidates To Help Fight Climate Change.” “Scientists recommend the current Democratic field be reduced to less than half the current number or we could see an increase in hurricanes, droughts, kaiju, and ‘other climate change things.'”
Now on to the clown car itself:
Losing Georgia gubernatorial candidate Stacey Abrams: Maybe? Krystal Ball (yes, her real name) make the case for Abrams. “You can just hear the narrator intoning: “With hard work and perseverance, anyone can succeed. America is the land of opportunity.’ But, Abrams doesn’t seem to buy that narrative. For one thing, in spite of all of her success in the grand American meritocracy, Abrams still found herself filing for governor at a time when she owed $170,000 in consumer and student loan debt and $50,000 in taxes.” Wait, you’re making the case for Abrams? As for running statewide:
Creepy Porn Lawyer Michael Avenatti: Out. But see Friday’s LinkSwarm for more information on this prince among men and his multiple felony indictments.
Addition: Actor Alec Baldwin: Maybe? No news from Baldwin himself since floating last week’s Twitter balloon, but this piece suggests Democrats should run a celebrity…just not Alec Baldwin.
In one of the Twitter rants he is always getting up to, Alec Baldwin claimed the other day that if he ran for president in 2020, he could beat President Trump. It would be “easy,” he said. “So easy. So easy.”
I’m not so sure he’s right about this. No one over the age of 35 watches Saturday Night Live anymore, certainly not outside our major cities. Normal people don’t know who is being parodied in your 37th different sketch about some minor White House official, which makes laughing along kind of difficult. What else do Americans associate Baldwin with these days, apart from 30 Rock and that one funny monologue in Glengarry Glen Ross? His stint narrating Thomas and Friends? The Hunt for Red October? I just don’t think he’s beloved enough.
Wait, people under the age of 35 watch Saturday Night Live? I’ll need to see documented evidence of that…
Colorado Senator Michael Bennet: Leaning toward a run. Despite his cancer diagnosis, he was visiting Iowa, which suggests he’s not easily deterred.
Former Vice President Joe Biden: Leaning Towards Running. He’s evidently planning to run as Obama’s pale third term. I’m not sure that’s the red tofu Democratic activists are longing to hear, but it may not matter. Biden also has an advantage in having every old Democratic office holder at his beck and call. Here’s a Vanity Fair piece on how the #MeToo creeper stuff is going to hurt him; it’s unconvincing, and it’s the same argument liberals made about the Billy Bush tape sinking Trump. He’s also delivering Fritz Hollings’ eulogy.
Former New York Mayor Michael Bloomberg: Maybe. Nothing since last week’s “he might run after all” blip.
South Bend, Indiana Mayor Pete Buttigieg: In. Twitter. Facebook. He did the “I was already running but now I’m officially officially running” thing. A report on his speech makes it sounds like all the usual Democratic talking points. “Buttigieg criticized what he called the more conservative connotation of the word “freedom,” one that he said refers simply to freedom from the government. He instead talked about government having a role in promoting other freedoms: from racism, gender inequality, unfair working conditions, financial exploitation, a lack of affordable health care.” Big Brother needs to get bigger! Kurt Schlichter wants us to remember how annoying Buttigieg is. Hmmm: “Austin Mayor Steve Adler backing Buttigieg two weeks after welcoming Beto at hometown rally.” Those liberal college town mayors have to stick together…
Former First Lady, New York Senator, Secretary of State and losing 2016 presidential candidate Hillary Clinton: Out. But for some inexplicable reason she and her husband are out on a speaking tour. Of course, it could be the very explicable reason of “money.”
Maryland Representative John Delaney: In. Twitter. Facebook. He campaigned in Pennsylvania. “At a Tuesday night event hosted by Penn Democrats, Delaney billed himself as a different type of Democrat, offering a centrist vision for the nation.” The picture shows a crowd of what looks to be about 25 people, despite a plate of free sandwiches in the room…
New York Senator Kirsten Gillibrand: In. Twitter. Facebook. She raised $3 million in Q1, which is piss poor by the standards of a sitting new York senator. She should have been able to shake down that much from Wall Street the day she announced. her staff is blaming her stand on Al Franken. Heh: “White House National Security Adviser John Bolton could not stop laughing when played a clip of Sen. Kirsten Gillibrand (D., N.Y.) discussing her opposition to “tactile” nuclear weapons on the campaign trail.”
Former Tallahassee Mayor and failed Florida Senate candidate Andrew Gillum: Probably not. Seeing no sign he’s running for President in 2020. But this is interesting: “Former Gubernatorial candidate Andrew Gillum built up some serious hype when he launched a voter drive. That work will be done with his Forward Florida political committee, which he now chairs. But it appears Gillum also formed a corporation with a similar name and function. Division of Corporations records show on April 5, paperwork was filed for the Forward Florida Action not-for-profit corporation.”
California Senator Kamala Harris: In. Twitter. Facebook. She released 15 years of tax returns, which showed she and her lawyer husband made nearly $2 million in 2018. Must be nice. She’s leading the Hollywood fundraising race (just like Alan Cranston did in 1984), which donations from Shonda Rhimes, Elizabeth Banks, Quincy Jones, and J.J. Abrams, who is reportedly considering buffing up her campaign with more lens flare. She’s also the candidate of big tech:
the national obsession with ethnicity and novelty obscures the more important reality: Harris is also the favored candidate of the tech and media oligarchy now almost uniformly aligned with the Democratic Party. She has been a hit in all the important places—the Hamptons, Hollywood, and Silicon Valley—that financed Hillary Clinton’s 2016 campaign.
Unlike Warren and Sanders, or Minnesota’s Amy Klobuchar, Harris has not called for curbs on, let alone for breaking up, the tech giants. As California’s attorney general, she did little to prevent the agglomeration of economic power that has increasingly turned California into a semi-feudal state dominated by a handful of large tech firms. These corporate behemoths now occupy 20 percent of Silicon Valley’s office space, and they have undermined the start-up culture that once drove the area’s growth.
Snip.
By the time Harris ran for the Senate, she could count on massive support from Bay Area law firms, real-estate developers, and Hollywood. More important, she appealed, early on, to tech mavens such as Facebook’s Sheryl Sandberg and Sean Parker, Marc Benioff of Salesforce, Yahoo’s Marissa Mayer, venture capitalist John Doerr, Steve Jobs’s widow Laurene Powell, and various executives at tech firms such as Airbnb, Google, and Nest, who have collectively poured money into her campaigns. Their investment was not ill-considered. Harris seems a sure bet for the tech leaders. Her husband, attorney Doug Emhoff, was a managing partner with Venable Partners, whose clients include Microsoft, Apple, Verizon, and trade associations opposing strict Internet regulations.
She’s also building out her campaign in South Carolina, probably a smart move. With so many candidates in the race and proportional delegate allocation, I don’t think Iowa and new Hampshire are going to winnow the field nearly as much in the past, which is going to make South Carolina’s February 29th primary more important than in year’s past. Speaking of which: “Bakari Sellers, a CNN commentator and former South Carolina state representative, endorsed Sen. Kamala Harris for president, her campaign announced Monday.” Wait, Harris is a gun owner? That will make for some interesting Harris-Swalwell deabtes. (Hat tip: CarpeDonktum.)
Washington Governor Jay Inslee: In. Twitter. He had a CNN town hall. At least one review was not kind: “He really did sound like he has just half a brain, as he himself said earlier this week. CNN didn’t do Inslee any favors by airing this interview.” He said his state would love to get all those illegal aliens. One wonders if his constituents feel the same.
Virginia Senator and Hillary Clinton’s 2016 Vice Presidential running mate Tim Kaine: Out.
Former Obama Secretary of State and Massachusetts Senator John Kerry: Not seeing any sign.
So you’re a thin-shelled, easily boiled crustacean deluded enough to think you can defeat a natural killing machine a hundred times more powerful than you are. Got it.
Massachusetts Representative Seth Moulton: Maybe? “Seth Moulton is running social media ads asking if he should run for higher office.” Expect him to throw his hat into the ring under his new name of Candidate McCandidateFace.
Former Texas Representative and failed Senatorial candidate Robert Francis “Beto” O’Rourke: In. Twitter. Facebook. “The big idea? Beto doesn’t have one.” “Beto O’Rourke’s most distinctive policy position? To be determined. There’s no signature issue yet, no single policy proposal sparking his campaign. Convening crowds — and listening to them — is the central thrust of his early presidential bid.” The roots of Beto’s money. Hint: It’s not record sales. “O’Rourke co-owns a shopping mall worth seven figures; He received his half as a gift from his mother.”
New York Representative Alexandria Ocasio-Cortez: Constitutionally ineligible to run in 2020.
Sen. Bernie Sanders has accused a leading liberal think tank, founded and run by longtime Hillary Clinton allies, of orchestrating attacks on him and two other 2020 Democratic presidential candidates.
In a letter provided to CNN by his campaign, Sanders addressed the board of the Center for American Progress and CAP Action Fund on Saturday, alleging that its activities are playing a “destructive role” in the “critical mission to defeat Donald Trump.” Sanders cited two posts about him by ThinkProgress, a website run by CAP’s political arm, and past pieces focused on Sens. Elizabeth Warren and Cory Booker.
The exchange threatens to shred an already frayed public détente between the wider circles surrounding both Sanders and Clinton, who fought a bitter 2016 presidential primary that still looms large in the minds of many Democrats — if only because they fear a divisive replay in 2020.
CAP, founded in 2003 by John Podesta, who was former President Bill Clinton’s final chief of staff and Hillary Clinton’s 2016 campaign chairman, and its top officials have often been accused by progressives loyal to Sanders of seeking to undermine his political agenda — debates that frequently blow up on social media platforms like Twitter.
Democratic billionaire Tom Steyer: Probably Out? Said he wasn’t running, but there’s this: “California billionaire Tom Steyer may be reconsidering his decision last January to remove himself as a possible candidate for the Democratic nomination for president, according to a new report. A citizen in Iowa recently recorded a robocall that tested political messaging related to Steyer, according to a report from Iowa Starting Line.” Still think he’s out, but not this for the record.
Venture capitalist Andrew Yang: In. Twitter. Facebook. Yang had some of his own bad ideas, like “monitoring malicious speech.” He also wants to decriminalize heroin and other opiates (along the lines of Portugal), which may be the first genuinely new idea any Democratic Presidential candidate has floated this cycle. Here’s a review of his book. “Once you read his book, it is apparent that Andrew Yang is running for president because he is afraid of normal people.” He’s an idea-a-minute guy, many of them bad, sort of a Democratic version of 2012’s Newt Gingrich. Yang also leads the candidates in Facebook spending.