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California’s proposed ‘billionaire tax’ fails to pass

​California voters rejected Proposition 40, the one-time 5% tax on billionaires, the AP reported Monday. Tech leaders outspent backers roughly 10 to 1 to defeat it, and the founders and economists TechCrunch interviewed before the vote were split on whether it would have driven out wealthy residents or just trimmed their fortunes.  

The race is on to sue Nvidia

​Nvidia’s stock slid more than 4% after its board opened an investigation into Jensen Huang’s relationship with a suspected Chinese spy, and one securities law expert says the company’s earlier insistence that it was all “normal” could turn into a very expensive problem.