At 23, Emil Barr is already a millionaire building a business in Columbus, Ohio. But San Francisco’s investors and AI scene caught his eye—enough that the Flashpass founder told Fortune he signed a lease to move there about a year ago.
He changed his mind after looking more closely at California’s regulatory and tax environment, including its proposed billionaire wealth tax, which helped persuade him to cancel the move entirely. He wouldn’t owe the tax under the current proposal, but fears it could pave the way for taxes on millionaires like him.
