Attended a presentation from a California political interest business group. They said there is basically no way that a Republican can win Governor. Not a direct quote, but they effectively said that if Steyer or Porter win we are fucked. Steyer will hold a special election in 2027 to repeal Prop 13. Depending on what the next round of polling looks like, they believe that the Teacher's Union, who supports Steyer, will run a shadow campaign to promote Hilton so that Steyer won't have run against Porter, or any other Dem, in the general. They still believe the Dem race is wide open. They like Mahan. He has a successful record as mayor of San Jose and is more business friendly.
They claim that California's 200+ billionaires pay 60% of the State's income tax and that the Billionaire Tax proposition if passed will significantly reduce actual income taxes collected. Apparently, 60 billionaires have recently left California due to the high tax burden of the State. However, they think the proposition has a good chance of not passing.