Chandan@ChandanLodha
California's rainy day fund is half-empty, and it hasn't rained yet.
Four straight years of deficits, during an economic expansion. $125 billion in cumulative shortfalls (!) The structural gap is $20+ billion a year and growing. The next governor will inherit a fiscal mess.
So I did something I never thought I'd do: I hosted a political fundraiser at my house with @veratz.
That sentence is as weird to write as it is to read. I build tech products. I've never knocked on a door for a candidate. My political involvement up to this point is complaining to friends about politicians and reporting potholes to 311.
But I grew up in Santa Cruz. I've lived in California almost my entire life. I love this state in a way I can't fully articulate. Most places I visit feel boring by comparison. My default mode of transportation is self-driving car.
And California is heading down a dark path.
So when @garrytan told me about @mattmahanhq, Mayor of San Jose, I looked him up.
He grew up in Watsonville, same county as me. Working class. His mom was a teacher, and his dad delivered mail. Hustled to get a scholarship to a better high school, which meant four hours on a bus every day. Made it to Harvard on financial aid. Became student body president. Lived down the hall from Zuck.
After college, he became a schoolteacher. Then founded a company. Then became mayor of the biggest city in Northern California.
What caught my attention was his scoreboard.
San Jose is now ranked the safest large city in America according to FBI data. Their homicide clearance rate has been 100% four years running. He reduced homelessness by 30%. He cut the development fees that were making housing construction financially impossible and got thousands of units in the ground. He proposed tying pay raises for politicians and department heads to measurable results. Homelessness goes up, your raise doesn't happen.
He balanced the city budget by going through it line by line and making actual choices. No tricks, no pulling from reserves. While Sacramento was spending through $125 billion in deficits during a boom.
I invited him to our house. ~50 people showed up. He spent the evening in the operational weeds. Permitting timelines. Fee structures. Shelter conversion rates. The stuff that actually determines whether things get built or people get housed. I've sat in rooms with some of the best operators in tech, and he reminded me of the ones I trust most. The ones who talk about the problem, not about themselves.
I have a one-year-old daughter. I think about what California looks like when she's 30. We spend $228 billion a year as a state. I don't think anyone in charge can tell you where it all goes. We have every natural advantage a place could ask for, and we're still running a deficit that gets worse every year.
I don't know how the governor's race shakes out. But I hadn't met anyone running for anything who made me think, okay, this person actually knows how to do the job.
Now I have.