It will encourage high tech companies in general and venture capital firms in specific to:
A). Locate their businesses in a state (like Texas) where Social Justice Warrior-type lawsuits have little chance to succeed.
B). More carefully screen potential employees for Social Justice Warrior tendencies so as to minimize the chance of future lawsuits.
Businesses exist to make money, they don't exit for believers in victimhood identity politics to wage politics and cash in at their expense.