Moses Kagan
@moseskagan · Oct 13, 2025
Yeah, but I think part of why he moved HQ out was the Prop C tax
Elon Musk
@elonmusk
Yes. The SF Prop C “gross receipts” tax applies to all transactions, not just revenue, which makes it impossible to operate a payments company in the city. The sheer insanity of that takes a moment to sink in …
That’s why Stripe and Square had to leave SF.
09:14 PM · October 13, 2025 · 49.2K views
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