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by aetimmes 916 days ago
The financial sector in NY was never going to let a non-compete ban happen.
1 comments

It came down to one person’s signature. If the industry had that much control, it would have stalled in the legislature. Seems pretty risky to let it come down to one person.

Edit: If anything, the big tech companies did a better job in Washington by allowing the non compete ban to pass for only jobs under $100k per year salaries. That way, political support is neutered in the future for any broad non compete ban that would actually affect them. For context, the legal minimum annual salary in Washington will be $90k in a few years.

New York is 1990s Indiana with NYC attached. Industrial powerhouses like Syracuse, Buffalo, etc are rust belt territory now.

With the export of American industry and the consolidation of all things agriculture, the solvency of the entirety of the state budget is almost entirely dependent it just on financial services, but specifically on income tax on Wall St bonuses. No sane governor would sign that bill.

The death spiral of agriculture in particular is incredible. Through incredibly incompetent policy decisions, entire regions of rural America are country ghettos, with our food supply dependent on a depleted aquifer in the Midwest and the fickle Colorado River.