Bitcoin Booster Tim Draper Has Some “Crackpot” Theories. Perhaps You Should Listen-1.76

If Tim Draper had his way, today Californians would be voting on whether to split their state into three new ones: Northern California, Southern California, and just California. And the high-profile Silicon Valley venture capitalist—an early investor in Hotmail, Skype, and Tesla—thinks the measure would have won.

Though Cal 3 had enough signatures to qualify for the ballot, the California Supreme Court in July unanimously decided to remove the measure. Draper, who contends that the Golden State is too big to function effectively, spent $1.2 million on the initiative (chump change compared to the $5.2 million he shelled out promoting a failed 2014 plan to split California into six states). “Whether you agree or not with this initiative, this is not the way democracies are supposed to work,” he told the Los Angeles Times after the court’s decision. “This kind of corruption is what happens in Third World countries.”

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