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California Governor Proposes Digital Dividend Aimed At Big Tech (bloomberg.com)
An anonymous reader quotes a report from Bloomberg: California Governor Gavin Newsom proposed a "digital dividend" that would let consumers share in the billions of dollars made by technology companies in the most populous U.S. state. In his "State of the State" speech on Tuesday, Newsom said California is proud to be home to tech firms. But he said companies that make billions of dollars "collecting, curating and monetizing our personal data have a duty to protect it. Consumers have a right to know and control how their data is being used." He went further by suggesting the companies share some of those profits, joining other politicians calling for higher levies on the wealthy in U.S. society. "California's consumers should also be able to share in the wealth that is created from their data," Newsom said. "And so I've asked my team to develop a proposal for a new data dividend for Californians, because we recognize that data has value and it belongs to you." Newsom didn't describe what form the dividend might take, although he said "we can do something bold in this space." He also praised a tough California data-privacy law that will kick in next year.
To a low tax state that respects your right to innovate.
Lots of other great US states have fast internet and low tax.
Low power costs and an educated workforce that's ready.
Escape the trash, waste, crime, new taxes and find a better state.
They will let you keep your employee cafeterias too.
Domestic spying is now "Benign Information Gathering"
The rest of the USA needs to tell investors in CA what they have to offer.
Imagine a state with clean streets.
Low tax.
Low power bills.
Fast internet.
No strange new city and state laws about how to run a business.
Lower cost housing in nice communities.
A transport network thats well designed and that gets people to work on time.
Low crime and well paid police than enforce the law.
No strange new taxes on wealth, productivity, profits, innovation, investment, creativity.
Workers who can be hired on merit.
College education that produces skilled workers not protesters.
Domestic spying is now "Benign Information Gathering"
Maybe the fact that companies aren't moving out of California means that the market has already spoken, and that making a shitty state low-tax doesn't make up for being a shitty state. Maybe those low-tax states should raise taxes and become better places to live to attract those companies.
It's so strange to assume that really rich companies (or billionaires) care so much about saving 10% off their taxes that they'll take a heavy hit to their quality of life. I mean, they could save more than that by moving from a private jet to first-class or a 250' yacht to a 200' yacht. And they don't.
Your ad here. Ask me how!
How do you pull all of this off? You want low taxes, but at the same time you want to offer a load of services that would have to be paid for with taxes.
We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.
The state of California is actually a huge institutional investor, and probably owns billions of dollars of tech stocks.
Your ad here. Ask me how!
It is obvious that you, AC, doesn't own or work in a big company. Your comment seems to come from a small (or individually own) company point of view.
It all depends on how deep the big tech companies have their root in where they are. Besides, they will have to look for other locations and that would take some times. I highly doubt it is easy for any big tech companies to simply pack their stuff and go right now. They have to adapt to the situation and may plan to move if necessary, but it wouldn't be in the near future.
I don't follow your logic:
H-1B population, they will go where the jobs are. If major tech companies move to some small rural town in Arkansas, they will move there. Being on a Visa, usually means the Visa holder isn't as settled as citizen are so getting up and moving to where ever the work is, is nearly their lifestyle.
Housing costs is a MAJOR issue in California, such tight control isn't needed in states where you can buy a home with over 2000sq/ft and and acre of land pay less then two thousand dollars a month on a normal 30 year mortgage.
By what other amenities are you talking about? How does this compared to other well populated states, New York, New England states, New Jersey....
New York State, actually has a stricter gun safety law.
California isn't bad, but tech companies are not stuck there, and if California makes life too difficult or unprofitable, companies can move out without major consequences.
If something is so important that you feel the need to post it on the internet... It probably isn't that important.
There's plenty of cities in different states, that have MUCH lower taxation, yet are able to provide plenty of city services (police, fire, schools, etc).
These places also don't tell you how to run your business.
Light travels faster than sound. This is why some people appear bright until you hear them speak.........
There they go again: politicians buying votes with other people's money.
If they have a genuine interest in protecting people's data, all they need is to copy the GDPR. It's one of the few truly good things to come out of the EU parliament: companies must have your explicit permission in order to collect and use your data.
But that's not what this proposal in California is about. This is about sounding good, winning political brownie points by promising to hand out someone else's money.
Enjoy life! This is not a dress rehearsal.
Now we're talking. Can you name some of those places, maybe there's something to be learned.
We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.
As a dividend investor, I couldn't agree more. Want to profit off a company's profits? Buy their stocks. However, most of the CA based big tech companies don't pay dividends. Of the five FAANG (Facebook Apple Amazon Netflix Google) companies, only four are based in California and only Apple (APPL) pays a dividend (a paltry 1.7% at that). For everything else, the "buy low, sell high" strategy is the only option for investors.
How do you pull all of this off? You want low taxes, but at the same time you want to offer a load of services that would have to be paid for with taxes.
Easy, drop all the bullshit entitlement programs and focus on services that benefit productive members of society.
companies don't move to high cost of living areas because they want to. They do that because all the talented college grads want to live there.
My Kid is finishing up college and wants to move to one of the pricey cities in Colorado. As an old dude that doesn't make sense to me since I don't want to pay $2k/mo for a decent apartment but if I was young I'd want to live in a big, fun city.
For lower tier jobs workers go where the work is. But for the higher tier stuff it's the other way around. See here
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I don't get fed by looking at eggs, ya know?
You get fed by owning a share of the goose. Not sitting around waiting to be fed by the egg thief.
Have gnu, will travel.
I expect he sees the nation from the California perspective. (like we see in Hollywood)
The Standard Good American life, California. (Full House)
The tough inner city life style with oddly very large appartments, New York City (Friends/Sienfield)
Hillbillies, and struggling lower middle class. The rest of America. (Married with Children/Rosane)
Either that his post was meant to be sarcastic to try to show how Liberal California is, because Fox News is based in New York City, so California is the whipping boy of the LiBeRaL Agenda.
If something is so important that you feel the need to post it on the internet... It probably isn't that important.
Right here?
Declare private data to be IP and copyrighted by the entity creating the IP.
Calculate the value of the IP by examining the revenue generated from it.
Pay royalties to the owners of the private IP whenever and wherever the data is used/reused, in perpetuity.
For those who don't wish to sell their IP, allow them to opt out. Any private IP harvested will be theft.
I have to think of everything and stuff.
It little behooves the best of us to comment on the rest of us.
We already got Toyota and State Farm from the (nastiest) bay area. Both have relatively sane blue collar workers. Don't want a bunch of feely feels tech (wannabe) millionaires coming in here and making even more waves, driving up the cost of living and turning the state even more liberal. If ya wanna be a foam speckled progressive, at least try to stay in Austin.
Austin is the designated Californian Containment Zone in Texas. Please respect our boundaries.
Socialism: a lie told by totalitarians and believed by fools.
It isn't a question of building more damn houses, it is a question of where to build more damn houses. If you can build them just south of East Where-Am-I and it takes two hours to commute to a job, that sort of puts a damper on your plan to build more damn houses.
California has a gun homicide rate of 3.3/100k. That is above average, worse than 31 other states.
Gun violence in the USA by state