What Went Wrong With California?
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Since the gold rush, California has been the go-to state for start-up companies. In recent years the Golden State has been losing the competition with neighboring states. More than 500 businesses have left California since 2005. Among these businesses were Fortune 500 companies and the economic impact from these departing companies is likely to be severe.
California’s tax laws and prohibitive regulations are the leading causes of the massive corporate exodus. The business-friendly conditions, opportunities to save costs, and home-ownership options for employees in other states are a few reasons companies have decided to leave California. These factors led to the first three-year decline in population in Californias history. In today’s video we ask, what went wrong with California?
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50 comments
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As a right wing rap fan I'm glad you're covering this beef and drama Patrick
Thanks, Patrick, another excellent video. I'm a 'prisoner' of Commiefornia and have my eyes set to Florida. Nothing like being taxed out of oblivion and having your money funneled to snatch kids away from their parents and have their Jenny O'der che'anged (sensor-boat-workarounds). The Sue O'side rate of these children who later regret the decisions that they were duped/pressure to make is off the charts. How could anyone support this Kay Rhyme?
Great video as usual. You sound like you're sick. Hope you get to feeling better.
American economic growth is a tad uneven.
For Californians to complain about Elon taking advantage of state subsidies is disingenuous. The state benefited from decades of federal largesse for aeronautics, computers, other military applications, as well as infrastructure including dams. It was not West Virginia, Really West or BF, Kansas, either. It was an economically healthy state before that.
Since we're talking about California, why doesn't this video have a prop 65 warning?
great as always thanks
dear patrick, you're wrong about btc. just come out and admit it before it comes more embarrassing for you.
California is a mess. Silicon Valley does more to boost their numbers. People , in addition to corporations are leaving in droves.
The exodus and lack of new arrivals is easy to explain -> a state overrun by libtards
I believe California suffers, because their economy relies too much on services. And I count as services everything that doesn't produce any physical products. I would even count Apple under that, because they only make designs, while factories in China produce the physical products. This isn't sustainable in the long term as we can already see. And that's also why Newsome rolled out the red carpet for the Chinese leader a few months ago. Texas and Florida will end up in the same deadend if they try to take over the California model. This will become especially bad once the world ditches the US Dollar and starts doing business in their own currencies. Then the dollar will collapse and imports like energy will become extremely expensive. I project some dark years in the future of California and the US as whole.
Who doesn't think they pay too much tax!
lol
Ah yes , the race to the bottom . I remember the concern of our jobs going overseas in the 90's , when they were really going to the Carolinas , or deep south , headquartered in Deleware of course . We have plenty of tax havens in our own country .
Too much mao on their minds
This video lacks any type of rap music review and is therefore disappointing.
What Went Wrong With California? Mismanagement due to a Democrat Supper Majority.
States and cities are up and down. I remember when Pittsburgh was in the dumps, then the best big city in the country. The benefit of being older is to see cycles. By the way, it is the only benefit.
Don't even get me started bro. 😒
oh what is this, another humorless video from an unfunny rap fan who thinks its a good joke to refer to himself as a "finance expert"? what happened to the old Patrick who used to pretend to do serious analysis while actually being hilarious and never cracking a smile?
…
JUST KIDDING!!!! Love these videos =) that was a joke =)
Unchecked liberals
We don’t want Elon or anybody like him. ❌
If you're moving to Texas from Cali, CO,NY or anywhere considered "liberal" stay in the cities or burbs. I mistakenly located in a very rural location from CO and lately have felt the negativity to the point I sleep with a gun under my pillow and keep one close at hand all the time. The MAGA/Christian conservative crowd out here have gone completely insane.
fruits and nuts, lol
The housing costs in California, Boston, New York City and the like are restraining their economies. Of course sfo, nyc and Boston are insanely dense and building at scale would be difficult. It’s an interesting problem to be sure.
Prop 13 also allows seniors to transfer their property tax base, with some like-value considerations, as long as they stay in state. So they can buy relatively well. But non-seniors there’s certainly more of an incentive to hold.
Saying that California has high taxes and regulations really far off from when you said it has the largest economy of any state and most countries feels like an odd choice. Of course it has more regulation and tax, its economy was raging. can you imagine having fewer regulations in a multi trillion dollar economy?
What is all of this “finance” on my favorite rap channel?
Ibhavent heard yet, but chevron.. the number 2 us based oil company by revenue..just moved its executives…
drinking game > drink a shot for every time Patrick says "California"
I don't know if California is running out of oil as you say. I do know that drilling has been limited due to permits not being approved until the drill company runs out of money during the waiting period and leaves.
California's legal actions has been shutting down refineries. The goal is to be oil free and all electric by 2035.
go woke go broke
Right-wingers should just leave California. Why do they want to stay? They can go to Texas and Florida, they can have them.
It does not matter how to fix California, because those who would fix it are leaving instead. There will be no turning back.
Patrick, who’s your tailor? Would nominate you for best dressed YouTuber 😊
Holly weird is moving to Europe soon riviera. Spain to be exact.
13.3% tax for millionaires? 😂
Average people pay way more in taxes than that! The middle class props up the entire United States tax base. Gimme a break, cry me a river millionaires. That includes you, Patrick.
And when you say people, I guarantee you’re including corporations as people 🙄
Things are going to plan in California. The Left takes over, then runs it into the ground. The poorer they can get the voters, the better. They still have a way to go, but they can easily follow Detroit's example and end up with a solid, poor, uneducated, dependent voting pool that will always vote Left. Paradise !
The problem is that these Useful Idiots leave their sewer and move to a nice place and continue the save voting pattern. So these people are creating Californiacation of previously good areas. This political cancer has ruined Denver and has metastasized to Texas, Florida, New Mexico, Arizona, and more.
don't want to watch this shit. I always get this video auto played when I play LOL but I'm 0 interested in what he has to say!
Neither ZZ Top nor The Eagles are rap groups. As this is a rap channel, I am disappointed that you would reference these lowly rock bands.
California is a socialist workers paradise. I don't see the problem…😂
Californias biggest problem is that it is run by one party. The democrat machine simply has no challenges, especially with ballot harvesting. Doesn’t shell that it’s conservatives moving out much more than liberals.
California doesn't save money for a rainy day, and it won't. California's biggest problem is the liberals running it. Saving money is a conservative idea, and California is having none of that!
MORE than 1/2 the homeless in California are Vets. The USA has a shameful disrespect for our armed forces no longer serving. Lucky for the Vets they have the mild climate of California and the people of California who are spending millions to offer assistance to our Vets. This is USA problem that California is struggling to deal with. You are welcome.
It's called Gavin; it's a disease to society.
What went wrong in California? The democrats took over. Its a cancer.
To answer your titles question.
Thanks for trying to break the internet.
So in other words, vote Trump.
No one is going to mention the sexy Patrick voice?
Nimbyism? How is anyone supposed to understand what that word means? I had to look it up and I can't imagine that more than 1% of your viewers didn't.