The interview clip with David Friedberg below has attracted more than 2,000,000 views on X. Friedberg is the CEO of Ohalo Genetics and another company or two as well as the co-host of the All-In podcast. I think it’s fair to say he is a smart guy.
In the video he asserts that California is “functionally bankrupt.” His point relates at least indirectly to the so-called billionaire tax that is coming down the pike. Jim Geraghty covered the post in his Morning Jolt column today. I wonder how many other states fall into the “functionally bankrupt” bucket. I doubt that California is alone.
BREAKING: David @friedberg says "California is functionally bankrupt"
"People don't realize how screwed California is, & I worry that if California falls, so does the union.
"$250 billion to $1 trillion short."
"This is because for California to get rescued would be a big… https://t.co/P7VbEBwY5n pic.twitter.com/I0h3lkekxe
— Molly O’Shea (@MollySOShea) March 26, 2026
Friedberg’s point relates at least indirectly to the so-called billionaire tax is coming down the pike. Jim Geraghty covered the post in his Morning Jolt column today. I wonder how many other states fall into the “functionally bankrupt” bucket. I doubt that California is alone.
Friedberg’s X account is accessible here. In the post below he comments on that threatening “billionaire tax.” Click on the post below to read the text in its entirety.
California started with the Gold Rush and might end with the Golden Exit.
it has been underreported how much wealth has left CA because of the asset seizure tax being proposed.
a private poll was conducted amongst affected individuals a few days ago and 80-90% surveyed said…
— david friedberg (@friedberg) January 15, 2026
More here.
David Friedberg: California’s “Billionaire Tax” is a Trojan Horse to Go After the Middle Class's Private Assets@friedberg:
“The reason they're calling it a billionaire tax is to make it easier for people to vote for it, and sign up to this entirely new tax system that they're… pic.twitter.com/ILDnC1kz6P
— The All-In Podcast (@theallinpod) January 5, 2026
