Peter Wu

How the 5% California wealth tax is a 67% wealth tax for Sergey Brin: >Owns 3% of GOOG. >Holds 25.3% of voting rights >Wealth tax is assessed as the greater of his ownership or voting rights. So his tax is 5% * his 25.3% voting ownership = 1.27% of the value of GOOG. >1.27% taxes / 3% ownership looks like a 42.2% wealth tax, but that's not quite right. >He has to pay the wealth tax with after-tax cash proceeds. So he needs to sell enough stock to cover 37.1% in taxes first (23.8% federal and 13.3% state). >His gross stock sale has to be 2.01% of GOOG to cover the wealth tax + federal and state taxes. >His wealth tax bill is thus 67% of his net worth (2.01%/3%) >This for 2026. There are proposals being drafted for a 2028 wealth tax. (I understand that some people see this as a feature)

If you want more context, San Jose had 0 market-rate housing starts in 2024. Due to Mahan's relaxation of permitting requirements, impact fees, and inclusionary zoning, over 1,000 new homes broke ground in 2025. And he's far from done.

Sorry, you can’t vote for Becerra. One of his major policies is freezing insurance non-renewals and rate increases. This would be disastrous for the state, here’s the chain reaction that will happen 1. Insurers exit California. If the only option is to lose money (because you can’t price accurately) or exit the state the answer is obvious! State Farm and Allstate already paused new policies, they’ll pull out entirely. 2. ppl can’t get insurance from private industry so they turn to the FAIR Plan, CA’s insurer of last resort. After the next big fire, FAIR Plan losses get assessed on every private insurer, who pass costs to every policyholder in the state and then even MORE companies pull out of the state. Safe-area homeowners subsidize fire-zone losses, maybe the state steps in and it hits every taxpayer. 3. Catastrophic reinsurance capital flees to Texas and Florida. Reinsurers price California risk based on expected returns. Cap the upside and they redirect capital. Less capital means less capacity means higher prices or no coverage at all. 4. Mortgages get harder. Lenders require insurance. No insurance means no conforming mortgage. Home sales slow, and existing owners get stuck. Becerra’s anecdote about his mom is pure idiocy - insurance prices forward risk, not loyalty. If the fire risk or cost to replace a house increases, of course the insurance price goes up! The real fix is on the supply-side: price risk accurately, build less in fire zones, harden homes, clear fuel.​​​​​​​​​​​​​​​​ @MattMahanSJ is the ONLY candidate with a supply-side plan. Allow risk-based pricing, speed up rate filings, reduce fuel loads, bring competition back. Hilton unfortunately has no plan, he does not seem to understand the issue. The rest are running on “make someone else pay,” which is how we got here.

For me, it's pretty simple: the best argument against Trump and his dangerous MAGA agenda is proving that we can make government work.

Democrats could try picking a young candidate who has a solid record of running a big city economist.com/united-states/…

Tapping the sign and looking into the camera

Elizabeth Warren doing enormous damage even if her butchery of the housing bill doesn't ultimately pass:

This was a good moment for Mahan.

Here's YC's official advice about being truthful and precise about what is pilot, bookings, revenue and recurring revenue. Founders, particularly first time founders, need to sear this into their brains. Don't mistake one tier for another. Be precise, and always be truthful.

For the love of God, San Francisco, do not replace Nancy Pelosi with a guy who campaigns with a bigot.

It's hard to emphasize how every single Biden White House insider book portrayed Xavier Becerra as a disaster - an impulsive pick when the Biden team was getting criticism for not having a Latino in the Cabinet - who everyone thought was a failure x.com/KevinLiao_/sta…

I was okay with Becerra until hearing his answers at the debate tonight. Freezing home insurance rates is quite possibly the worst policy you could pursue in California right now. What the fuck.

This behavior is especially unacceptable for law students. What do they think? That they can interrupt and disrupt their opponents in court? Nope. They'll be forced to listen and respond with reason, not disruption.

We should ban partisan gerrymandering nationwide. It's bad for our country. Republicans control Congress and should introduce the bill. Democrats will support it.

Are government failures in California fueling the MAGA movement? San Jose Mayor Matt Mahan on why the next governor of California matters more than ever.

I'm holding out hope for @MattMahanSJ for CA governor. San Jose is well governed. He cut permitting delays and built more housing. SJ actually solves violent crimes, and it turns out this reduces violent crimes! And I'd much rather elevate an effective mayor than a DC rep.

San Francisco could cut 10,000 government jobs and still have the bureaucracy per capita of Singapore, which has better infrastructure and public service. Unions are claiming 127 deadweight jobs are somehow existential to the city.

Quick reminder that there is a candidate for Governor with: 1) An outcome oriented track record as Mayor; 2) An impressive private sector resume; 3) No accusations of abuse from staffers (sexual or otherwise). And because it’s California, he’s only polling with 3% of the vote.

Shouldn’t it be creating… high-speed rail though?

Here’s something you won’t hear a lot of Democrats say: nuclear energy is something that the Trump Admin is getting right and California is getting wrong. We need more affordable energy, not less, and nuclear should be part of our future energy toolbelt.