Saying companies are leaving the Bay Area only because of taxes is to pretend that people really don’t mind stepping over needles and into human shit every time they go for a walk. San Francisco is disgusting, and ruled by psychos. Of course they are fleeing.
By the way, none of the CEOs are even in town. I know these people. They are all in Napa, Park City, Tahoe etc. Entire C-suites of the largest tech companies in the world. They’ve bailed, even if not legally. That has nothing to do with taxes.
The top 1% of income earners in California have paid 48%+ of all taxes for years, decades, and have stayed. But they’ve been abused past the breaking point. They are done.