Tom Steyer Aims to Protect California from Billionaires While Also Seeking to Keep Them Intact.

For those concerned about the sway of Big Tech and the wealthy on California’s trajectory, Tom Steyer appears to be a clear candidate. A billionaire who built his wealth by founding Farallon Capital Management, one of the globe’s largest hedge funds, Steyer left the firm in 2012 to focus on philanthropy, political advocacy, and activism in climate issues, among other endeavors. Currently, he’s competing among a select group of Democratic and GOP hopefuls aiming to emerge from the June primary and secure the California governorship this November.

As the midterms approach, I’m engaging with candidates who resonate with WIRED’s focus: Recently, I spoke with Alex Bores, a contender for New York’s 12th Congressional District, whose background at Palantir and views on AI regulation have drawn criticism from Silicon Valley-funded super PACs.

Steyer seemed a natural next choice for dialogue: He aims to lead a state where topics like AI, immigration enforcement, and climate change are crucial. His position in the race is also distinctive. Described as a “class traitor” for seemingly distancing himself from his elite peers, he has expressed support for California’s contentious Billionaire Tax Act—prompting figures from Sergey Brin to Peter Thiel to either make moves or threaten to leave the state—and has put considerable emphasis on affordability, climate policies, and a pledge of immunity from corporate influence. (Given his status as a billionaire spending upwards of $130 million on his own gubernatorial campaign, I would certainly hope so.)

As I mentioned, for some Democratic voters, Tom Steyer ticks many boxes. Then the conversation begins.

Steyer is skilled, as many politicians are, at navigating the nuances. However, the inherent challenge in politics—particularly in California—seems significant: Steyer, or whoever takes the governorship this November, will be treading a very narrow path. Taxing California’s billionaires without driving them away. Managing the state’s AI development without stifling growth (and again, risking alienation of the billionaires behind it).

I sensed Steyer’s hesitance to take firm stances or delve deeply into issues, perhaps to avoid alienating any potential voter group. This made me ponder: Can Tom Steyer be a pro-billionaire governor who robustly taxes them? Can he celebrate the “mind-blowingly amazing” progress in AI while keeping the industry accountable? Can he learn the name of WIRED’s global editorial director (that’s me) before she interviews him?

The last question finds an answer in the interview itself. The first two present daunting challenges for anyone entering California’s governorship—and I left our discussion unconvinced that Steyer’s stance is particularly coherent. The basic requirement for a California governor might just be the ability to use Google.