“Shark Tank” investor and businessman Kevin O’Leary did not hold back when criticizing Gov. Gavin Newsom (D-CA) during his appearance on Fox Business.
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“The casual dining sector in this state has been decimated by policy mistake on minimum wage.” O’Leary said. “They’re shutting down left and right. I mean, Gavin Newsom made a huge mistake. I think he knows that now. He’s turning this state into a sort of a version of Venezuela, and it’s just killing business. Not only in restaurants but in everything. There’s all kinds of capital leaving here for more competitive states, and that’s a good thing, competition of states in America.”
O’Leary also highlighted some red states that are good for business.
“You see what’s going on in Tennessee, Florida, Texas. They’re dragging all these companies that can’t make money anymore in Gavin Newsom’s. I can’t be. Listen, I’ve met him. He’s a nice guy, but I can’t be more critical of his policies. He’s a bad manager. He’s decimated this place. I’ve been coming here for 15 years. This is a shell of what it used to be.”
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As RedState’s Bob Hoge wrote, California’s $20 minimum wage law is bad for businesses and, yes, bad for employees. It is bad for businesses because they will either raise prices, negatively impact the consumer, and get fewer customers, or they will be left with no choice but to leave the state. It is bad for employees due to layoffs because some companies cannot afford more than a couple of employees with the current minimum wage rate.
Between soft-on-crime policies and the higher minimum wage law, businesses in certain cities will struggle to function unless there is a change in November. It could start with Nathan Hochman defeating Los Angeles District Attorney George Gascon and prioritizing public safety while punishing those who commit crimes.
It’s no secret that Newsom’s policies have been a disaster for Californians, and more people are now openly speaking out about it. As Rep. Kevin Kiley (R-CA) often states, California is not a model for the nation but rather a warning for the nation.
The good news for Californians is that Newsom’s term is ending in 2026; however, the current choices aren’t any better.
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But if entrepreneurs like David Sacks, Chamath Palihapitiya, Elon Musk, and others donate to the common sense candidate against any of the current frontrunners, such as California Attorney General Rob Bonta, Lt. Governor Eleni Kounalakis, or Superintendent of Public Instruction Tony Thurmond, that challenger could have the best chance in decades to turn California around – to a certain degree, given to the Democrat legislature – but some progress is better than more setbacks.