Sure it gets reported. And you’re not wrong about that exodus. But when looking at the math, it’s just a macroeconomic paper shuffle.
California represents the world's 5th largest economy all by itself. Between 2011 and 2021, only 1.9% of California's corporate headquarters left the state representing a microscopic 0.4% of the total State workforce. And moving headquarters doesn’t mean leaving the State market—they still sell products within the State—it’s a tax issue not a market issue.
Sure it has a small impact, but directly on State tax revenue, not the market force of the State economy. Companies will continue to comply with California laws—and pass those ecosystem lockdowns down to the rest of the country—because compliance remains vastly cheaper than market abandonment.
