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Billionaire's Dilemma: Tax or Embrace Tech?

Can Steyer be both pro-billionaire and climate hero? Only time—and Google—will tell.

For those concerned about the influence of Big Tech and billionaires on California’s future, Tom Steyer looks like an obvious choice. A billionaire who amassed his fortune after founding Farallon Capital Management, one of the world's biggest hedge funds, Steyer quit the firm in 2012 and turned to philanthropy, political advocacy, and climate activism, among other pursuits.


Now, he’s jostling for position among a handful of Democratic and GOP candidates looking to advance from a June primary and then win the California governorship this November. Steyer's posture in the race is unique. He supports California's controversial Billionaire Tax Act, which has everyone from Sergey Brin to Peter Thiel either making moves or threatening to flee the state.


Walking an exceedingly thin line, can Steyer be a pro-billionaire governor who also taxes the hell out of them? Can he rave about the 'mind-blowingly amazing' advances in AI while bringing the industry to heel?


Steyer's transformation from a hedge fund billionaire to climate activist is clear. He recounts how his trip to Alaska in 2006 was a turning point: “What we could see was Alaska was melting. It was really obvious.” His fear of living a life with no meaning pushed him towards activism, believing that America must lead the world on climate issues.


The challenge for Steyer is real. Can he balance his billionaire background with his new role as an environmental champion? The minimum requirement might be the ability to use Google effectively.

Original source:  https://www.wired.com/story/the-big-interview-podcast-tom-steyer/
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