California is being propped up by the tech industry because historically the biggest tech companies are headquartered here, which caused all the talent to be clustered here, and then new tech companies were forced to be here to attract that talent. Obviously, smart, intelligent people move here because jobs are here, and capital invests here because talent is here -- but things are changing quickly and other cities are becoming tech hubs.
If these other states have such "failed economic and social policies", why are so many people moving there?
The worst will be when Californians move to other states and then vote for policies that ruined the place they just fled.
[1] https://www.ocregister.com/2019/10/31/190122-more-people-lef...
The state is bankrupt. It funds healthcare for illegal immigrants while being the only state that forces a fee for lack of health insurance for US citizens. It has the highest homeless population and wealth inequality with declining economic mobility, ballooning cost of living, and generally worse overall quality of life compared to other major metros.
The question is if California is soooo bad. Why are smart, intelligent people coming here? Why does capital still invest here?
Part of the answer is other places in the US are slowly failing. So many of the problems have to due with California serving as a refuge from failed economic and social policy in other states and countries.