“I've seen this movie before. I've seen billionaires move to Austin, Texas. I've seen them move to Miami. They always come back to the Bay Area when it's time to build, right? When they need the engineers, when they need the money, that's where it is.”
Bloomberg Surveillance · October 2026
Context
Asked how many billionaires will leave California, the tech reporter says founders threaten to leave but return to the Bay Area when it is time to build companies.
Transcript
Well, I mean, as long as Mark Zuckerberg gets his share split.
His C-class shares.
Yeah, his C-class shares, he's planning to stay. I mean, I think that that is a little... That is certainly a. Problem that they've raised, like, you got to keep us here. But I've seen this movie before. I've seen billionaires move to Austin, Texas. I've seen them move to Miami. They always come back to the Bay Area when it's time to build, right? When they need the engineers, when they need the money, that's where it is. And so California does have some leverage over them because that is where If you want to build an important technology company, you build it there, and that's where their employees are.
Well, speaking of California, Miles Miller, you've been keeping an eye on the security, the stepped-up security at voting sites across the nation. And California is really under focus. The Trump administration has really put its eye on that state.
They want to be able to set aside as many as 20,000 mail-in ballots. That's been an issue that has been going back and forth, obviously went to the Supreme Court, and is something that will continue to be an issue for, that this administration wants to make an issue. Whether it's California…
Real treat later in the program, Scarlett made this happen. Professor Zidar will join us on the everywhere millionaire. Miles, this election and all of Bloomberg money is about the fancy people. What is Hakeem Jeffries, who you spoke to recently, what's he going to do about people crushed by…
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