Kevin O’Leary from Shark Tank stated that he avoids making business investments in Democratic states like California, New York, and Massachusetts due to what he perceives as unfavorable business policies.
He emphasized the importance of a state’s tax policy and regulatory environment, citing examples such as Tennessee, Texas, and Florida as business-friendly states.
O’Leary’s investment decisions are influenced by factors such as minimum wage, rent costs, and tax rankings. (Trending: Trump Responds To Biden’s Bombing In Yemen)
Kevin O'Leary argues California is the "worst of every state" in terms of pro-business policies.
"Gavin Newsom, and I mean no disrespect… I wouldn’t let him manage a candy store."
"He is so clueless to the competition going on between states.” pic.twitter.com/Pul286P62L
— AnalyzingAmerica (@AnalyzAmerica) January 15, 2024
“I’m not trying to get involved in the partisanship of this statement. Just a fact, I don’t invest in New York, I don’t invest in Massachusetts, I don’t invest in California. In my mind, those are examples of states that are uninvestable because of bad policy,” O’Leary said.
“So, I’m looking for the path of least resistance. If you make it hard for me to make money, I just take my money and go somewhere else.”
He highlighted the impact of business-friendly policies on job creation and mentioned his venture capital firm, O’Leary Ventures, which he established last year.
“So, in America today we have this giant competition of states, which is really incredible. The states that have lowered taxes, reduced regulatory environments are getting all the spoils. That’s where people are putting their money,” O’Leary said.
“You see these phenomenal success stories like Texas and Florida, and now North Dakota, and others that have made it easy for businesses to grow. Anytime you throw resistance at them, they just go somewhere else.”
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