If I'm paying 50% in taxes as opposed to 10%, I will be making different business decisions.
Most SF startups incorporate in Delaware because of the low corporate taxes.
That is not true. Most startups everywhere incorporate in Delaware because Delaware has the most robust legal system (e.g. the Court of Chancery) dedicated to handling corporate disputes. More info: https://whyy.org/articles/why-do-so-many-corporations-choose...
It's no coincidence that Delaware has very low corporate taxes:
https://www.investopedia.com/articles/personal-finance/09251...