Joe Lonsdale on CA wealth tax battle: We shouldn't be demonizing people for being successful

Summary

Joe Lonsdale, Palantir co-founder and 8VC founding partner, joined Squawk Box to oppose California's proposed wealth tax, arguing it would expropriate control shareholders and push wealth builders to Texas and Miami. He also said AI can make healthcare much cheaper and better, criticized hospital consolidation and misaligned incentives, and supported closing tax loopholes while lowering top rates. He briefly commented on Jensen Huang's politics and China-hawk stance, and the discussion included no explicit stock recommendations beyond the AI-healthcare theme and Palantir tax-risk mention.

• Lonsdale opposes California's proposed wealth tax as poorly written and expropriative.
• He warns control shares would be taxed as if fully owned, citing Palantir's founders.
• He sees capital and builders moving from California to Austin and Miami.
• He argues AI will lower healthcare costs and improve care.
• He points to Utah's AI prescription rule and 40 primary-care use cases.
• He criticizes hospital consolidation and misaligned incentives.
• He supports closing tax loopholes while lowering the top rate, citing Reagan-O'Neill.
• He disagrees with Jensen Huang's politics but calls him a talented businessman.