TechThe Information2h ago
Voters’ Gift to Big Tech
TL;DRTech stocks rallied after voters rejected a California billionaire tax.
Why it matters: Market confidence in Big Tech strengthens their political and economic position ahead of regulatory battles.
Voters just handed big tech a gift—and we’re not just thinking of Californians who voted against the billionaire tax proposal. (Can all those billionaires come home now?) Wednesday’s rally in the stocks of Amazon, Microsoft, Apple and Alphabet suggests that investors see lots of…
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