Reid Hoffman calls California's proposed billionaire tax 'horrendous' for innovation

Reid Hoffman, the cofounder of LinkedIn, thinks AI will transform, not eliminate, jobs.

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• Reid Hoffman, a prominent Democratic donor, is against California's proposed billionaire tax.
• The LinkedIn cofounder said the tax would be "horrendous" for innovation.
• The proposal is "badly designed" and contains "massive flaws," Hoffman said.

Reid Hoffman isn't a fan of California's proposed wealth tax, and he said he let Rep. Mo Khanna know about it during a recent conversation.