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Photo: Justin Sullivan/Getty Images

Salesforce founder Marc Benioff scored a major victory in Tuesday's election as voters approved a bill he had strongly backed to help end homelessness in San Francisco.

Why it matters: The initiative, known as Proposition C, will require big businesses (including Salesforce) to pay for new services to help fight homelessness.

  • Prop C had been opposed by some fellow techies including Twitter and Square CEO Jack Dorsey, Zynga co-founder Mark Pincus, and Stripe CEO Patrick Collision as well as San Francisco Mayor London Breed.

How it works: Prop C raises the gross receipts tax on San Francisco-based businesses taking in more than $50 million. The additional tax varies between 0.175% to 0.69%, depending on the type of business. (The categories were a sore spot for some businesses that believe they were misclassified and over-taxed.)

What they're saying:

  • Benioff: "Prop C’s victory means the homeless will have a home & the help they truly need! Let the city come together in Love for those who need it most! There is no finish line when it come to helping the homeless."
  • Pincus (earlier this week): "Prop c is the dumbest, least thought out prop ever. Please get the facts and vote no. Then lets all focus on real solutions for sf."

The bottom line: Prop C will add much needed funding to help with San Francisco's increasing homelessness problem. Less clear is what impact the added tax might have on tech companies trying to decide where to locate.

Go deeper

Updated 3 hours ago - World

Biden reviews U.S. arms deals with Saudi Arabia and UAE

Trump struck several large arms deals with Mohammed bin Salman (L) and Saudi Arabia. Photo: Kevin Dietsch-Pool/Getty Images

The Biden administration has put on hold two big arms deals with Saudi Arabia and the United Arab Emirates which were approved in the final weeks of the Trump administration, a State Department official told Axios.

Why it matters: The sales of F-35 jets and attack drones to the UAE and a large supply of munitions to Saudi Arabia will be paused pending a review. That signals a major policy shift from the Trump era, and may herald sharp tensions with both Gulf countries.

Trump supporter found with pipe bombs accused of plot to attack Democrats

Five improvised explosive devices that the FBI says "were fully operational and could cause great bodily harm or injury if handled improperly." Photo: FBI/Justice Department

The FBI believes California Gov. Gavin Newsom (D) and the Bay Area headquarters of Twitter and Facebook were targets of a man facing federal explosives charges, according to a criminal complaint.

Driving the news: Prosecutors charged Ian Benjamin Rogers after finding weapons including five pipe bombs, 49 guns and thousands of rounds of ammunition following a Jan. 15 search of his Napa County home and auto repair business. His alleged goal was to ensure former President Trump remained in office.

7 hours ago - Health

Fauci: COVID vaccine rollout needs to prioritize people of color

Anthony Fauci. Photo: Alex Wong via Getty Images

Infectious disease expert Anthony Fauci highlighted the need to address racial disparities in the COVID-19 vaccination process, per an interview with The New England Journal of Medicine on Wednesday.

What he’s saying: "I think that's the one thing we really got to be careful of. We don't want in the beginning ... most of the people who are getting it are otherwise, well, middle-class white people."