Yes, what are the legal impediments, if any, to this? Alaska, Texas and New Mexico all have sovereign wealth funds for schools and basic income.https://twitter.com/bryce/status/1296456848061665281 …
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I think you'd have an adverse selection problem w/ participants, basically.
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The Saudi’s have somewhat successfully pulled it off without adverse selection, key would be to hire an amazing manager that wants to support CA. Interesting to think that PIF has more equity in CA startups than CA.
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CALPERS is probably already in almost every CA startup via a VC fund already no?
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See
@jdh’s comment - 1 more reply
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VC firms have shunned Calpers because they don't want public disclosure of their returns but I bet the up and coming solo GP/rolling crowd wouldn't care so much that someone else at the Menlo Country club knew their anemic IRR
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A bit more on what the proposal he was making is https://twitter.com/lessin/status/1296473502221045762?s=21 …https://twitter.com/lessin/status/1296473502221045762 …
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