American investor and venture capitalist at Kleiner Perkins
California voters have rejected Proposition 40, a one-time 5% tax targeting billionaires with assets over $1 billion. The measure, aimed at funding healthcare and other programs, faced a multimillion-dollar opposition led by Silicon Valley figures like Sergey Brin and Eric Schmidt. Supporters argued the tax would replace lost Medi-Cal funding; opponents warned of economic harm. The vote is decisive as of today, with affected residents potentially facing future tax debates.