California's Clean Air Initiative Survives a Death Threat — But Why?
I’m happy to announce that California voters soundly rejected Proposition 23 – a proposal that would have essentially killed the state’s clean air initiative. But exactly why? I’m not sure anyone will ever know.
Prop 23 was backed almost entirely by two out-of-state (Texas) oil companies. Voters don’t like being manipulated (in the few cases where they can see it coming so clearly).
The venture capitalists and hedge fund managers that profit from California’s tech sector backed a powerful “No on 23” campaign, outspending even the Texas oil billionaires. (more…)