Chamath Palihapitiya Won’t Run For California Governor

Despite his strong stance against the current California Governor, Chamath Palihapitiya won’t run for the position of Governor of California so we are trying to find out some more about it in our latest crypto news.

Right after reports emerged that Palihapitiya will run for Governor of California, the social Capital CEO refuted the claims and doubled-down on his criticism against the current Governor Gavin Newsom in a recent podcast. Last week it was reported that the CEO of Social Capital decided to run for Governor and aimed to defeat the current Governor who is a member of the Democratic Party and former mayor of San Francisco, Gavin Newsom.

Chamath took a direct aim at Newsom by outlining some of the ongoing issues of the state like being too expensive, underpaid teachers, and not good enough schools. Some of his suggestions seemed to be optimistic at first glance including a 0% state tax and a minimum salary for teachers starting from ,000 and allowing students to pick schools that they want to attend for free.
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However now it seems that the Bitcoin bull changed his mind. When asked about this political campaign on the “All In” podcast, he said:

 “Let’s be really honest. I’m not ready to do any of that. What I need to do is I need to figure out a) My business and where it’s going and b) I do think it’s worth figuring out what is the conflict of interest laws and what do you have to do if all of this were to come to pass.”

Palihapitiya who is a strong Bitcoin supporter, purchased about one million coins at a price of $80 a decade ago explaining that this main focus is on a battery project so he doesn’t want to shut it down while putting his efforts in a political campaign. The Facebook investors have been criticizing Newsom for a while now and during an SNBC interview, he commented that the current governor has done a “terrible job” so far. Apart from the state problems, the tech investor outlined an ongoing crisis with the growing crime rates, poor air quality, and residents fleeing the state.

Although he won’t be running for governor, he reaffirmed his anti-Newsom campaign and donated $100,000 to rescue California which is a committee that supports the recall initiative.