{"id":37429,"date":"2026-01-10T17:45:12","date_gmt":"2026-01-10T17:45:12","guid":{"rendered":"https:\/\/www.duck9.com\/blog\/?p=37429"},"modified":"2026-01-10T16:09:17","modified_gmt":"2026-01-10T20:09:17","slug":"a34z-cs-183","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/a34z-cs-183\/","title":{"rendered":"a34z cs 183"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<div dir=\"ltr\">\n<div dir=\"ltr\">&#8211; Ben Horowitz, a16z co-founder, warns on TBPN that California&#8217;s proposed 2026 Billionaire Tax Act\u2014a one-time 5% levy on net worth over $1 billion\u2014could drive out tech talent by taxing unrealized gains, likening it to a strategy to erode Silicon Valley&#8217;s network effects.<\/div>\n<div dir=\"ltr\">&#8211; Norway&#8217;s 37.8% exit tax on unrealized capital gains above 3 million crowns has prompted a tech exodus, with founders like Fredrik Haga citing inability to liquidate private company stakes, leading to petitions and a diminished startup ecosystem as reported in Forbes and Reuters analyses.<\/div>\n<div dir=\"ltr\">&#8211; The post has sparked replies urging relocation to low-tax states like Texas and Florida, amid data showing California&#8217;s top 1% already contribute 40% of state income taxes, highlighting tensions between revenue needs and innovation retention.&nbsp;<\/div>\n<p><a href=\"https:\/\/x.com\/tbpn\/status\/2009757096720687294?s=43\"><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" style=\"border:1px solid #ccd6dd; border-radius: 12px;\" width=\"500\" bgcolor=\"#ffffff\">\n<tbody>\n<tr>\n<td colspan=\"3\" style=\"font-size: 0px; line-height: 0px;\" height=\"12\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/x.com\/tbpn?s=43\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/2007964599774220288\/jQbJ0IDt_normal.jpg\" style=\"border-radius: 50%; padding: 0px;\" height=\"48\" width=\"48\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width:8px;\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px;\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/x.com\/tbpn?s=43\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: #292c2f; text-decoration: none;\">TBPN<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/x.com\/tbpn?s=43\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: #7e8c98;\">\u2066\u202a@tbpn\u202c\u2069<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height:0px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif;color: #292c2f; font-size: 18px; line-height: 24px; text-decoration: none;\">a16z&#8217;s <a href=\"https:\/\/x.com\/bhorowitz\">\u2066\u202a@bhorowitz\u202c\u2069<\/a> says the California wealth tax is the &#8220;best strategy&#8221; to dismantle Silicon Valley that he&#8217;s ever seen.<\/p>\n<p>&#8220;It&#8217;s been so hard to break the Silicon Valley network effect, but this is the best strategy I&#8217;ve seen.&#8221;<\/p>\n<p>&#8220;Norway has an unrealized capital gains tax. <a href=\"https:\/\/t.co\/DFMJpEfxgs\"><span>pic.x.com\/DFMJpEfxgs<\/span><\/a><\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height:0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/x.com\/tbpn\/status\/2009757096720687294?s=43\" style=\"font-family: Helvetica, Arial, san-serif;color: #667785; font-size: 14px; line-height: 18px; text-decoration:none;\">1\/9\/26, 4:40\u202fPM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"font-size: 0px; line-height: 0px;\" height=\"12\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/a><\/div>\n<p><br id=\"lineBreakAtBeginningOfSignature\"><\/p>\n<div dir=\"ltr\">\n<div><span style=\"background-color: rgba(255, 255, 255, 0);\">Hunter Pence shared thoughts before winning WORLD SERIES&#8217; Game #7<br \/><span dir=\"ltr\"><span dir=\"ltr\">http:\/\/www.youtube.com\/watch?v=usu0luYy9pw<\/span><\/span><\/span><\/div>\n<div><span dir=\"ltr\" style=\"background-color: rgba(255, 255, 255, 0);\"><br \/><\/span><\/div>\n<div><span dir=\"ltr\" style=\"background-color: rgba(255, 255, 255, 0);\">Steve Jobs Texted me on&nbsp;<span dir=\"ltr\">650-283-8008<\/span>&nbsp;in the same way Palo Alto Steve Jobs called Bill Hewlett in Palo Alto&nbsp;<\/span><\/div>\n<div><span style=\"background-color: rgba(255, 255, 255, 0);\"><br \/><\/span><\/div>\n<div><a href=\"https:\/\/x.com\/superSaiyanSkai\/status\/1941392367304761636\/video\/1\" style=\"caret-color: rgb(0, 0, 0); background-color: rgba(255, 255, 255, 0);\"><font color=\"#000000\">https:\/\/x.com\/superSaiyanSkai\/status\/1941392367304761636\/video\/1<\/font><\/a><\/div>\n<p><span style=\"background-color: rgba(255, 255, 255, 0);\"><span dir=\"ltr\"><\/p>\n<div><span dir=\"ltr\"><br \/><\/span><\/div>\n<p><span dir=\"ltr\">9:59<\/span><\/span>&nbsp;video sums up 14 chapters of a book coming out 11-11-2019 &#8220;What They Will NEVER Teach You at Stanford Business School&#8221;<br \/><span dir=\"ltr\"><span dir=\"ltr\">http:\/\/www.youtube.com\/watch?v=ejeIz4EhoJ0<\/span><\/span><\/span><\/p>\n<div><span style=\"background-color: rgba(255, 255, 255, 0);\"><br \/>Fashion Week&#8217;s front row<br \/><span dir=\"ltr\"><span dir=\"ltr\">http:\/\/www.youtube.com\/watch?v=QXIaNZi3mHQ<\/span><\/span><\/span><\/div>\n<div><span style=\"background-color: rgba(255, 255, 255, 0);\"><br \/>What A Super Model Can Teach a Harvard MBA About Credit&nbsp;<span dir=\"ltr\"><span dir=\"ltr\"><a href=\"http:\/\/www.slideshare.net\/larrychiang\/what-a-super-model-can-teach-a-harvard-mba-about-credit\">www.slideshare.net\/larrychiang\/what-a-super-model-can-teach-a-harvard-mba-about-credit<\/a><\/span><\/span><\/p>\n<p>American Express hosts me mentoring you about FICO scores at New York Fashion Week<br \/><span dir=\"ltr\"><span dir=\"ltr\"><a href=\"http:\/\/t.co\/inxTmZAj\">t.co\/inxTmZAj<\/a><\/span><\/span><\/p>\n<p>My video boils down 20,000 hours and moves you to the right on the entrepreneur bell curve&nbsp;<br \/><span dir=\"ltr\"><span dir=\"ltr\">http:\/\/www.youtube.com\/watch?v=eudADPfTWiE<\/span><\/span><\/p>\n<p>CEO of Duck9<br \/>Founding EIR @Stanford<\/p>\n<p>Duck9 = &#8220;Deep Underground Credit Knowledge&#8221; 9<br \/><span dir=\"ltr\"><span dir=\"ltr\"><a href=\"http:\/\/www.duck9.com\/blog\">www.duck9.com\/blog<\/a><\/span><\/span><br \/><span dir=\"ltr\"><span dir=\"ltr\">650-566-9600<\/span><\/span><br \/><span dir=\"ltr\"><span dir=\"ltr\">650-566-9696<\/span><\/span>&nbsp;(direct)<br \/>cell:&nbsp;<span dir=\"ltr\">650-283-8008<\/span><\/p>\n<p>****************<br \/>Editor of the widely syndicated &#8220;What They Don&#8217;t Teach at School&#8221;<br \/><span dir=\"ltr\"><span dir=\"ltr\"><a href=\"http:\/\/whattheydontteachyouatstanfordbusinessschool.com\/blog\">whattheydontteachyouatstanfordbusinessschool.com\/blog<\/a><\/span><\/span><\/p>\n<p>CNN Video Channel:&nbsp;<span dir=\"ltr\"><span dir=\"ltr\"><a href=\"http:\/\/ireport.cnn.com\/people\/larrychiang\">ireport.cnn.com\/people\/larrychiang<\/a><\/span><\/span><\/p>\n<p>Read my last 10 X posts at&nbsp;<span dir=\"ltr\"><span dir=\"ltr\"><a href=\"http:\/\/www.X.com\/LarryChiang\">www.X.com\/LarryChiang<\/a><\/span><\/span><\/p>\n<p>Author of #WTDTYASBS a NY Times Bestseller released 09-09-09 at #NYFW on a runway under the tents<br \/><span dir=\"ltr\"><span dir=\"ltr\"><a href=\"http:\/\/whattheydontteachyouatstanfordbusinessschool.com\/blog\/?s=Ny+times+bestseller\">whattheydontteachyouatstanfordbusinessschool.com\/blog\/?s=Ny+times+bestseller<\/a><\/span><\/span><\/p>\n<p><span dir=\"ltr\"><span dir=\"ltr\"><a href=\"http:\/\/www.fastcompany.com\/embed\/c0d4562ea2049\">www.fastcompany.com\/embed\/c0d4562ea2049<\/a><\/span><\/span><\/p>\n<p>52 Cards. Two Jokers. What They DO Teach You at Stanford Engineering<br \/><span dir=\"ltr\"><span dir=\"ltr\">http:\/\/www.youtube.com\/watch?v=vDBY0GkI3-g<\/span><\/span><\/p>\n<p>Emergency swings and cutting deals as an 9 year old<\/p>\n<p><span dir=\"ltr\"><span dir=\"ltr\">http:\/\/www.youtube.com\/watch?v=OFGY7v9C4G0&amp;<\/span><\/span><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#8211; Ben Horowitz, a16z co-founder, warns on TBPN that California&#8217;s proposed 2026 Billionaire Tax Act\u2014a one-time 5% levy on net worth over $1 billion\u2014could drive out tech talent by taxing unrealized gains, likening it to a strategy to erode Silicon Valley&#8217;s network effects. &#8211; Norway&#8217;s 37.8% exit tax on unrealized capital gains above 3 million [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-37429","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/37429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=37429"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/37429\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=37429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=37429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=37429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}