Bitcoin lawyer Chamath Palihapitiya is not running for Governor of California
- Virgin Galactic chairman Chamath Palihapitiya has announced he is joining the race for governor of California.
- A minimum wage of $ 70,000 for school teachers, a zero state tax and the elimination of student loans are among his proposals.
- Palihapitiya is also well known for his pro-Bitcoin statements.
Update: Despite his earlier indications, Palihapitiya has stated that he don’t go run for governor. We’ve updated the title to reflect this.
Well known Promoter Chamath Palihapitiya, CEO of Social Capital and Chairman of Virgin Galactic, today announced on Twitter that he has thrown his hat in the ring as a candidate for governor of California.
The California problem
“California is a mess – it’s too expensive, our teachers are underpaid and our schools are not good enough,” Palihapitiya said, via her campaign site. Among other things, the entrepreneur advocates that California’s tax rate, among the highest in the country at 16%, be reduced to zero; a minimum salary of $ 70,000 for school teachers; and the abolition of student loans.
“We can cut taxes from 16% to 0% and stimulate growth, which will increase state revenues from $ 15 billion to $ 30 billion,” he wrote.
The entrepreneur, who is known for his liberal stance on social issues, did not indicate party affiliation.
As the center of the tech and entertainment industries, California’s economy is the largest in the United States. Its economy ranks the state fifth in the world, between Germany and India. However, California’s largest centers, Los Angeles and San Francisco, suffer from dire homelessness issues, with sprawling “tent cities” and homeless settlements in downtown areas and along surrounding highways. . Recently, a number of big tech companies, including Hewlett Packard and Tesla, have decamped the state for more user-friendly environments.
Palihapitiya: life and times
World-class poker player Palihapitiya, 44, was born in Sri Lanka and raised in Canada by his struggling refugee parents, before moving to the United States. He lists his current residence in Palo Alto, Silicon Valley. He began his technology career at AOL, significantly, in its then booming instant messaging division. Later, as the first employee, he enjoyed a successful stint at Facebook, where he oversaw the stratospheric growth of the then one-year-old company. He subsequently said he regretted having designed the success of the company.
Palihapitiya then established his own venture capital fund, Social Capital, and has become one of the most influential voices in tech. He is followed by over 800,000 people on Twitter.
Among other things, Palihapitiya is well known in the crypto industry for his pro-Bitcoin stance. Last April, for example, the billionaire – who had previously argued that Bitcoin’s fate would be decided over the next 10 years – claimed that the “moment” for crypto maybe already happened, and a little earlier than expected.
According to the Palihapitiya campaign website, he wants to “make California the global center for all technology and climate jobs by realigning our incentives rather than pushing them away.”
As Decrypt reported in late December, former US presidential candidate Andrew Yang – also a supporter of Bitcoin and cryptocurrencies in general – officially registered as a participant in the upcoming New York municipal elections.
With two pro-Bitcoin candidates vying for top political posts in the United States, the bull run may be just beginning.