[dougws]

Investigating theft takes up police time, which expends taxpayer resources. The market wouldn't take this into account.

Also, "doesn't California have bigger issues to worry about" is just silly, as if the government of an enormous state can only do one thing at a time.

[icameron]

Police don't investigate stolen phones.

[staunch]

They do investigate violent crime. At least theoretically.

http://www.crimemapping.com/map.aspx?ll=-13620775.579218755,...

[sbisker]

What's to say they wouldn't if they were more uncommon?