Wiz CEO Turns Down $23B Google Offer, Eyes $100B Valuation
Wiz CEO Assaf Rappaport reveals he rejected a $23B acquisition offer from Google, betting on a $100B valuation for his cloud security startup.
Riley King
California is doubling down on its commitment to zero-emission vehicles, despite potential federal setbacks. Governor Gavin Newsom announced on Monday that if the incoming Trump administration cuts the $7,500 electric vehicle (EV) tax credit, he will propose rebates for eligible California residents who purchase electric vehicles.
The move is a clear indication of California's unwavering dedication to a clean transportation future, even as the federal government's stance on environmental policies remains uncertain. Newsom's proposal is designed to make electric vehicles more affordable for Californians, thereby reducing the state's reliance on polluting vehicles.
The EV tax credit, introduced under the Bipartisan Inflation Reduction Act, has been a crucial incentive for Americans to switch to eco-friendly vehicles. However, the Trump administration is reportedly considering cutting the program as part of broader tax reform efforts. This potential move has sparked concerns among environmentalists and EV advocates, who argue that it would hinder the adoption of clean energy vehicles.
In response, Newsom is reviving California's Clean Vehicle Rebate Program, which was phased out in 2023 after funding over 594,000 vehicles during its lifetime. The proposed rebates would be drawn from the Greenhouse Gas Reduction Fund, which is funded by polluters under the state's cap-and-trade program. This innovative approach ensures that the polluters themselves are contributing to the state's clean energy initiatives.
California's stance on zero-emission vehicles is particularly significant, given the state's position as a leader in the US electric vehicle market. With over 700,000 EVs already on its roads, California is well-positioned to drive the national conversation on clean transportation. Newsom's proposal is likely to inspire other states to follow suit, potentially creating a ripple effect that could influence federal policy.
The implications of California's move extend beyond the state's borders, as it could have a profound impact on the global electric vehicle market. As the world's fifth-largest economy, California's commitment to clean energy vehicles sends a strong signal to automakers, investors, and policymakers worldwide. It also underscores the importance of state-level initiatives in driving progress on environmental issues, even when federal policies are uncertain.
In conclusion, California's unwavering commitment to zero-emission vehicles is a beacon of hope for a cleaner, more sustainable future. As the state forges ahead with its innovative approach to clean transportation, it is likely to inspire a wave of similar initiatives across the country, ultimately contributing to a healthier environment and a more prosperous economy.
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