Gavin Newsom: “Our economic, our entire entrepreneurial system is thriving…”

“And this is the iteration in the state of California and this is our approximation and I think California's figured it out in many respects. I mean, Our economic, our entire entrepreneurial system is thriving in our state. where I think found that balance with the highest contribution of venture capital last year in our history, $106 billion, 68% of it went back into the state of California, despite our progressive tax structure.” (30:22–30:27)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.