California governor race tilts hard left as tech donors recalibrate

Swalwell’s exit upends California’s Democratic primary, pushing the race toward a Bernie-style left as Katie Porter and Tom Steyer compete for momentum and donor support. Steyer is flooding the airwaves and courting unions, while Porter’s more radical agenda could fracture traditional tech backing. The tech sector fears a wealth tax and anti-tech policies, potentially driving high-wage earners and talent out of Silicon Valley. San Jose Mayor Matt Mahan is seen as a possible pro-business alternative, but Steyer’s fundraising and Porter’s populist base could determine the outcome with wide implications for California’s economy and innovation ecosystem.