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He probably isn't the sole reason for it's failure, sure. But to say he was a major interest working against it's success is probably fair.
I would just say the failure of that project was due to poor governance, not capitalism or private influences in the form of Musk. This just reeks of an attempt to let’s shift all the blame of something California democrats failed at to someone we now despise. Musk didn’t have overwhelming control of the that states government and if the argument is even with that much single party control, it’s the fault of private influences, then that imo is an argument that government isn’t capable of many of the things democrats propose. Like I said, there’s plenty of reasons to attack Musk but this one seems pretty transparent in what is trying to be accomplished.