Elon moving SpaceX headquarters to Texas may not crush California but it's definitely going to hurt in two areas:

1. Brain drain

2. Commercial tax base (includes payroll taxes)

Sometimes I wonder if property values got so high in Cali that Newsome and others aren't trying to pull a Lex Luther style evil villain job to crash real estate and then come buy everything up. Cali makes up a massive intercept point for Pacific trade and is a substantial portion of all US coastline.