California Wealth Tax & Top AI Picks for 2026 12/30/25

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 30 December 2025

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

California labor groups are pushing to add a statewide wealth tax on billionaires to the November ballot, setting off a rift among Democrats and drawing backlash from the tech community. Ben Narasin, founder of Tenacity Venture Capital, breaks down the proposal, the response from Silicon Valley, and the political pressure facing Democrat Congressman Ro Khanna, who expressed support for the idea. Then, CNBC’s Courtney Reagan reports on the rising personalization of retail returns and Wedbush Securities’ Dan Ives shares his top AI stock picks for 2026. Plus, metals rebound, President Trump continues his pressure on Fed Chair Jay Powell, and Meta acquires AI developer Manus. Ben Narasin 10:44 Courtney Reagan 23:49 Dan Ives 29:43 In this episode: Ben Narasin, @BNarasin Dan Ives, @DivesTech Courtney Reagan, @CourtReagan Joe Kernen, @JoeSquawk Leslie Picker, @LesliePicker Michael Santoli, @michaelsantoli Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music, please.
0:04.3	Hi, I'm CNBC producer Katie Kramer.
0:07.2	Today on Squawk Pod.
0:09.6	The political debate over a proposed wealth tax in California that could lead to a tech billionaire exodus from the state.
0:17.0	We get the take of venture capitalist Ben Narasin on the potential 5% tax.
0:21.9	If you penalize one extreme, you're going to penalize the hardworking person that's sort of
0:26.7	getting there.
0:28.4	Top tech picks for the new year from the dapper Dan Ives.
0:31.7	We'll talk AI and his wardrobe.
0:34.3	That's our whole thesis going in 2006.
0:36.6	For every dollar spent on an invidiat chip, there's an $8 to $10 multiplier crossed the rest of
0:42.3	the tech.
0:43.3	Plus, the rest of today's news that got us squawking, silver swings, the fight inside Lulu Lemon,
0:48.3	and our favorite soap opera, the president's search for a new head of the Federal Reserve.
0:53.3	They better have good food.
0:54.8	At the Fed, cafeteria, Mar-a-Lago probably already has.
0:58.2	Yeah, there's a decent food.
1:00.1	It's Tuesday, December 30th, almost the end of this year.
1:04.1	Squawk Pod begins right now.
1:07.5	Stand by Joe in three, two, one.
1:10.4	His mic is here.
1:12.3	Good morning and welcome to Squawk Box here on CNBC, live from the NASDAQ market site in Times Square.
	...

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