The richest are voting with their feet. Chamath Palihapitiya flagged something pretty significant: roughly half a trillion dollars in wealth has bolted California in response to the wealth tax, and it's not a slow exodus. These high-net-worth individuals didn't just shuffle their portfolios—they actually relocated. The kicker? Palihapitiya warns this brain drain and capital flight will likely widen the state's budget deficit, not shrink it. It's a classic case of policy creating unintended consequences. When you squeeze the wealthy, they don't necessarily stay put and accept it. They leave, taking their tax base with them. Worth thinking about, especially if you're tracking where capital flows globally.