Why California's economy will bounce back and continue to lead. (San Diego: income, income tax)

[Think4Yourself]

Take a look at this map which shows venture capital funding (funding of new businesses) hot spots in the US with totals expressed in billions of dollars in new venture fund invested each year.



Poor Texas is just a pimple on a warthog's butt where as California is by far the king. That's the future being built right there.

America's Leading High-Tech, Venture Capital Centers - Jobs & Economy - The Atlantic Cities

[NewToCA]

Little doubt that Silicon Valley is, and will continue to be, the economic growth engine for CA.

[ambient]

The startup game will be fine. Unfortunately, the startup success does not trickle down very far to the tens of millions of people who are hurting the most. They are the ones who generally have less education, fewer job opportunities, and greater need for public assistance. Startups are inherently technology-oriented; as such, they are largely focused on niche applications that improve efficiency, leverage cloud storage, etc. In the cases where they work out, they may result in a few thousand jobs, which is better than nothing...but even in those cases, those companies are well-positioned to leverage technology labor markets overseas as much as possible.

So some people in California will continue to get extremely wealthy - there are a lot of them here where I live - but the overall benefits will likely remain very unevenly distributed. And because of that, I expect that difficulties here will persist for quite some time...not that CA is alone in that regard.

[TVC15]

Originally Posted by Think4Yourself

Poor Texas is just a pimple on a warthog's butt where as California is by far the king. That's the future being built right there.

Poor Texas basher it really does not matter much when you consider that In 2011, Texas had a gross state product of $1.332 trillion,the second highest in the U.S. The Texas economy is the second largest in the nation and the 15th largest in the world based on GDP (nominal) figures. As the largest exporter of goods in the United States, Texas currently grosses more than $100 billion a year in trade with other nations.

I think Texas is doing just fine. You really should worry about CA's issues that are still plaguing the state.

You can't fix CA's woes by constantly bashing Texas.

[nullgeo]

Hey. No pretty little colored balls for Dubuque? ... none for anywhere in the state of Nevada either? No income tax there ... I thought that's where all the clever, wealthy Californians were moving ... states with no income tax.

[TrueDat]

This map is focused on venture capital and start-ups so I wouldn't expect areas where so much of the economy traditionally has been dominated by tourism -- Nevada, Louisiana, Florida -- to do well in this regard, state tax or no state tax. Though there is apparently a move afoot to declare Tampa Bay as "the other Bay Area" in terms of start-ups The Other Bay Area: Why You Should Pay Attention To Tampa Bay's Growing Startup Scene | Techli

Still, there's no question that California will be the leader in this area for awhile.

[EscapeCalifornia]

Originally Posted by ambient

In the cases where they work out, they may result in a few thousand jobs, which is better than nothing...but even in those cases, those companies are well-positioned to leverage technology labor markets overseas as much as possible.

This is it in a nutshell. Millions for a handful (I'm sure the state is already figuring these numbers into its tax projections), good jobs for a few thousand, and hundreds of thousands of jobs for China and India because manufacturing is frowned upon in this establishment.

[Fargobound]

Given the resounding IPO success of Facebook and Zynga California has a bright future indeed. So keep up the pump and dump California. I hope Pers loaded up on this garbage.

[Think4Yourself]

I guess it is true. You can post any sort of good news you want but the bashers will still show up with their endless negativism.

[Think4Yourself]

Originally Posted by TrueDat

This map is focused on venture capital and start-ups so I wouldn't expect areas where so much of the economy traditionally has been dominated by tourism -- Nevada, Louisiana, Florida -- to do well in this regard, state tax or no state tax. Though there is apparently a move afoot to declare Tampa Bay as "the other Bay Area" in terms of start-ups The Other Bay Area: Why You Should Pay Attention To Tampa Bay's Growing Startup Scene | Techli

Still, there's no question that California will be the leader in this area for awhile.

San Diego and LA both get a heck of a lot of tourism but they still show well on the venture capital map. I thought people here claimed that wouldn't be the case? Something about a 2% difference in total taxes paid as a percentage of income supposedly chasing people out of the state and some how discouraging investment. Yet here we are with the facts, once again, not cooperating with the right wing talking points.

Don't get me wrong, I'm glad Tampa Bay's start up scene is picking up but when you start at zero it's really easy to see big growth numbers. Let us know when they break into the top ten list if it ever happens.