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This is awesome. But isnit actually going to get built? Whats going to stop companies taking the money and then see nothing being built?

What's going to stop the California govt giving contract to companies like Verizon or Comcast?

This is California. I guarantee with 100% certainty that this is going to fail. They will be late. They will be over-budget. Tax payers fund government officials earning in excess of $250k to go to meetings after meetings of regulatory compliance. In the end, they'll decide to dump more of tax payer money into it after delays of Phase I followed by threats based on sunken cost fallacy, and before you know, the technology has moved on and it is year 2035.
Bureaucratic cynicism aside, if recalling correctly the 1GB symmetrical fiber in Oakland is largely courtesy of a CA gov bid that Sonic won. As is the case widely across CA fiber installations, micro-trenching and otherwise.
"The bill would require the [Office of Broadband and Digital Literacy] to retain a California based nonprofit entity as a third-party administrator to manage the development, acquisition, construction, maintenance, and operation of the broadband network, and to submit annually a report to the budget committees of the Legislature on the broadband network, as specified"

(text from the bill: https://leginfo.legislature.ca.gov/faces/billTextClient.xhtm...)

So they outsource responsibility to a third party so that when the project fails it won't be the people that created it that will be blamed. It's simply amusing to read this stuff while they're trying to figure out what to do with the useless train line they kind of built.
Spectrum will continue to be overpriced, and the only realistic isp available to most people.
High Speed Rail 2: Fiber Boogaloo? The state doesn't exactly have a good track record with these big projects.
Not true at all. The California State Water Project is one of the most successful public works and general feats of engineering accomplishment ever built. Terminal Island is a wild success. California's state and interstate highway infrastructure is the best of any state I've ever lived in. One high-profile failure doesn't mean everything the state ever does is doomed to also fail. That would be like saying the disaster that is the Salton Sea means large-scale infrastructure created by private companies is doomed to always fail.
The state is home to top tech companies in the world and there's no one who can build a network for service providers.

And (of course) the worst possible candidate - the state of Cali - gets the job.

I predict delayed delivery, highest costs and lowest, taxpayer-subsidized prices.