tim draper vc investor

A proposal to split California into three states — Northern California, California (new), and Southern California — has qualified to appear on the ballot in November’s general election.
The measure received more than 400,000 valid signatures, thanks to support from legendary Silicon Valley investor Tim Draper.
The rationale is: California is the most populous state in the nation. Having three states would give the people of California three times the number of senators in Washington, and allow state legislatures to tackle issues closer to home.

Tim Draper is known for having crazy ideas — and for funding them.

Now, the legendary Silicon Valley investor is making headway on a longtime and perhaps unrealistic effort to split California into three separate states: Northern California, California (new), and Southern California.

Draper’s proposal to cut up the Golden State qualified on Tuesday to appear on the ballot in November’s general election. It received more than 402,468 valid signatures, more than the amount required by state law, thanks to an ambitious campaign, called Cal 3, and financial backing from the early investor in Tesla, Skype, and Hotmail.

If a majority of California voters that cast ballots agree to divide the state into three, the plan would need approval from both houses of the California Legislation. Then it would reach the US Congress.

The last time an existing state split up, it was the 1860s and a civil war broke out. West Virginia was formed by seceding from a Confederate state over differences around slavery.

Draper has reasons for wanting to slice and dice his home state.

With slightly more than 39 million people, California is the most populous state in the nation. Supporters of the initiative argue the state isn’t fairly represented with senators in Washington. The proposal would give the people of California six senators.

According to the Cal 3 …read more

Source:: Business Insider

      

(Visited 1 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *