AI Summary

From Google co-founder Brin spending $66m to fight a billionaire tax to Google and Meta funding a joint Super Pac, Silicon Valley is engaged in an existential fight for its political power at home Tech billionaires have shelled out hundreds of millions of dollars ahead of the 2 June primary election in California, in an unrivaled attempt to influence who gets to run the state that Silicon Valley calls home. The industry has used a cover-all-bases approach, funding candidates and ballot measures big and small, contributing to what looks to be the most expensive primary season in California history. The goal, experts say, is to gain both political and regulatory leverage that will perpetuate dominance in business. Google co-founder Sergey Brin has spent $66m since January, more than any other donor, to fight a billionaire tax that’s up for a vote on the November ballot. Democratic gubernatorial candidate Matt Mahan has received more donations than any other candidate, including from top executives at Google, Amazon, Snap, LinkedIn, Reddit and Palantir. Crypto mogul Chris Larsen has funded three Super Pacs with $26m to sway campaigns across California, including giving $1m to back a primary candidate for state insurance commissioner. Google and Meta have collectively funded a Super Pac with $10m to back assembly and senate candidates in local district races across the state. Silicon Valley money is flowing toward city primaries as well as state-level ones, with tech-backed Pacs sponsoring voter guides suggesting how to vote on local tax measures. Continue reading...

AI summaries can be wrong sometimes—always verify important details using the source article.