Central Air Revolt of the Billionaires
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Mar 11, 2026 
Mike Solana, founder of Pirate Wires and CMO at Founders Fund, shares quick, on-the-ground takes from Silicon Valley insiders. He discusses billionaire plans to leave California over a proposed wealth tax. Conversations cover why the tax feels different, the reality of relocation vs. fighting the measure, and culture wars from Wired’s “Gay Tech Mafia” claims to arts debate and market ripples.
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Wealth Tax Threat Makes Billionaires Seriously Consider Leaving
- California's proposed one-time 5% billionaire wealth tax risks triggering real wealth flight rather than the academic 'myth' its proponents cite.
- Mike Solana reported speaking with 21+ billionaires who said they'd leave or restructure domicile, making capital flight credible and immediate.
Spend Big Early To Defeat A Tax Ballot Proposition
- If opponents want to stop the ballot measure, they must organize and spend heavily on a 'No' campaign because California ballot props tend to lose support over time.
- Use targeted ad spend and counter-propositions to outpace union-backed signature and ad efforts.
Ballot Proposition System Enables Strategic Counterattacks
- California's initiative system lets interest groups bypass legislators, producing high-stakes, targeted ballot props that can be countered with other props.
- Mike noted five proposed counter-propositions designed to neutralize the wealth-tax measure if advanced.