‘Go Woke, Go Broke’: Billionaire Suggests That Northeast Cities Like NYC and Boston Are Hemorrhaging Income Due to Political Ideology — While the South Keeps Booming

With a single tweet, Chamath Palihapitiya, the CEO of Social Capital, recently became the provocative main character of the day on X, formerly known as Twitter.

Palihapitiya sent out a screenshot of a Bloomberg article based on how six southern states had contributed more to U.S. gross domestic product than the northeast corridor of Washington-New York-Boston for the first time in history.

But it was his accompanying caption that sparked hot debate: “Go woke, go broke,” he said, implying that the ongoing culture war and economic policies of northeastern states had facilitated the migration of wealth and economic power to the South.

While tweeps weighed in with their own thoughts — including fellow billionaire Mark Cuban — here’s what the numbers show is really going on.

Bloomberg’s analysis of data from the IRS highlights the southern wealth migration. Florida, Texas, Georgia, the Carolinas and Tennessee collectively added $100 billion in new net income from 2020 to 2021. Meanwhile, the Washington, New York and Boston corridor lost $60 billion in income in that same period. (Read more from “‘Go Woke, Go Broke’: Billionaire Suggests That Northeast Cities Like NYC and Boston Are Hemorrhaging Income Due to Political Ideology — While the South Keeps Booming” HERE)

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