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As “blue” a reputation as California has, I can tell you as a person fairly well acquainted with the state propositions, the results are quite conservative, in the classic GOP sense. The voters said NO to race-based hiring decisions, NO to dropping the voting age, NO to rent control, and NO to meddling with dialysis clinics.


One proposition that had a direct impact on a specific equity sector was Proposition 22, heavily supported by “gig” companies like DoorDash and Uber. To their relief, the voters declared that their works can continue to be considered contractors, not employees, and the stocks are celebrating:

slopechart UBER
slopechart LYFT

I don’t find any chart compelling, although I suppose if I had to buy one, it would be UBER.