Have FOMO? Read this summary, then watch the whole thing.
Today’s So, Does It Matter? Live! was a lively conversation with my friend Katy Grimes, Editor-in-Chief of the California Globe, about the California governor’s race, the billionaire tax, high-speed rail, and the latest Gavin Newsom drama.
We started with the governor’s race, which somehow feels both important and strangely lifeless. Ballots are about to go out, but the race still feels undefined. Katy and I talked through the Republican danger zone, why a GOP lockout of Democrats was always a long shot, and why the bigger risk may now be Republicans getting boxed out of November altogether.
Then we got into the Democratic field — Becerra, Steyer, Mahan, Villaraigosa, and the others — and why so many of them still seem unable to explain why they should be governor in a way normal voters can actually feel.
From there, we turned to the billionaire tax, which is likely to appear on the ballot. This is not just a “tax the rich” proposal. It raises much bigger questions about assets, confiscation, future tax expansion, and whether California voters are being asked to weaken their own protections without fully realizing it.
Katy then walked us through the latest high-speed rail disaster, including the new eye-popping cost estimates, the project’s transformation into a union jobs program, and one of the most absurd route-change stories you will hear this year.
And yes, we ended with Gavin Newsom — his lower profile, the first partner problem, the book controversy, the PAC-funded purchases, and the bigger question of how much donor money is being used to polish his national ambitions.
Want To Watch A Particular Part?
(These timestamps are close but not exact. I removed “ums” and “ahhs” after producing them.)
00:00 — Welcome And Setup With Katy Grimes
02:39 — Introducing Katy And The California Globe
04:52 — Why So, Does It Matter? Exists
07:48 — Today’s Topics
09:28 — The California Governor’s Race
10:13 — Why The Race Still Feels Undefined
11:00 — The Undecided Voter Problem
13:47 — Why National Politics Complicate California Politics
15:20 — The Two-Republican Fantasy
16:03 — The Real GOP Risk In November
17:51 — When Will California Democrats Finally Get Fed Up?
18:38 — Xavier Becerra’s Sudden Rise
19:31 — Matt Mahan’s Oatmeal Problem
22:15 — Becerra, Steyer, And The Democratic Status Quo
23:36 — Tom Steyer’s Unpredictability
25:43 — Why The Debate Format Failed Again
26:41 — A Better Debate Format For CNN
28:39 — The Billionaire Tax Proposal
29:15 — The SEIU Role Behind The Measure
30:20 — The Dangerous Expansion Clause
31:01 — Why Every Taxpayer Should Pay Attention
32:01 — Katy On The Asset-Tax Problem
33:49 — How The Measure Will Be Sold To Voters
34:20 — Countermeasures And Ballot Strategy
35:48 — High-Speed Rail
36:40 — From $33 Billion To $231 Billion
37:19 — Why Katy Calls It A Jobs Program
38:24 — The Cesar Chavez Memorial Detour
40:32 — Legislative Abdication And Union Power
41:05 — Cap-And-Trade, Cap-And-Invest, And The Rail Boondoggle
42:29 — The New Plan And The Missing Transparency
43:13 — Why This Will Haunt Newsom On The Trail
44:26 — Gavin Newsom’s Lower Profile
45:04 — What Has Newsom Been Doing?
45:34 — The First Partner Problem
46:50 — The Newsom Book Rant
47:19 — PAC Money And Bulk Book Purchases
48:21 — Who Profits When The Books Are Bought?
49:44 — The Bigger Donor-Money Question
Listen To This On Your Favorite Podcasting App!
You can also listen to this post — along with my California Our morning content is free for all subscribers and guests! You can also listen to this post — along with my California Post column — on our podcast feed, So, Does It Matter? SPOKEN. It’s available on your favorite podcasting app. You can listen directly here.
Oh, here’s this episode of Substack Live on YouTube!
