Posted on 07/11/2018 8:19:42 PM PDT by SeekAndFind
| State | VC Funding ($M) | Individual Deals | Avg Deal Value ($M) | %$ | %Deals |
|---|---|---|---|---|---|
| California | 11,579 | 513 | 23 | 59% | 51% |
| Massachusetts | 2,629 | 110 | 24 | 13% | 11% |
| New York | 2,357 | 170 | 14 | 12% | 17% |
| Texas | 747 | 55 | 14 | 4% | 6% |
| Florida | 511 | 20 | 26 | 3% | 2% |
| Maryland | 406 | 16 | 25 | 2% | 2% |
| Illinois | 375 | 36 | 10 | 2% | 4% |
| Colorado | 337 | 37 | 9 | 2% | 4% |
| New Jersey | 315 | 10 | 31 | 2% | 1% |
| Washington | 289 | 30 | 10 | 1% | 3% |
Those are Q1 2018 numbers. Forgot to state that in my haste.
AG is in a death spiral in CA because of the manmade water shortages.
The Central Valley is a modern day dust bowl.
"As the number of investments in other states has grown, the number of California deals has shrunk by 16 percent in the past two years. Venture activity in Washington State, Illinois, Massachusetts, and Colorado has increased almost every year since 2010."
The US is actually long overdue for more diversification of VC funding outside CA. Of course, Washington State, Illinois, Mass., and Colorado are now all socialist hells with the same public pension unfunded liability problems as CA -- or worse. Who in their right mind would pump money into Illinois? How are they going to attract talent?
California’s in-state revenue is nearly $474 billion.
I actually fear this may be here already. Physically you can leave, but no matter where you go they will still demand you pay the balance of the year’s income taxes to CA also.
I can easily see them passing laws that if you sell property and leave the state, you get assessed some huge extra ‘Fee’.
President Reagan destroyed the old Soviet Union via economics. He did not fire one shot in anger. With the aid of Saudi Arabia the world market was flooded with oil. Oil and natural gas is Russia’s total economy. Their economy thus collapsed.
The same economics will destroy California. You can not spend what “you aint got” when your credit rating goes down the tubes. Just ask Venezuela about credit ratings.
“You actually haven’t driven the 5 and noticed the signs on the dried up fields that say ‘Congress Created Dust Bowl’? Or maybe they aren’t there anymore.....I haven’t driven that route in 9 years.”
There are still some remaining signs of 2007 along I-5, but a lot of acreage has bee replanted and it’s interesting to see groves of fruit and nut trees being “drip irrigated.”
But no matter, as big as CA agriculture is, and it does, in many areas “feed the entire country,” is it a pissant by comparison to Silicon Valley. So if our Ag goes under, the country will suffer with fewer fresh fruits, nuts and vegetables, but it isn’t going to cause the State to collapse, although I wish that that were the case.
“The Central Valley is a modern day dust bowl.”
You are FOS! I drove up the Central Valley a couple of weeks ago and there is NO fallow land!
All power and money moves away from cities and toward the state ... controlled by Democrats.
Whee!
Didn’t they kill agriculture when they shut the water to the Central Valley off? All in service of the Delta Smelt and 23 trout.
And the state is currently under severe water restriction. Like crazy severe. Don’t plan on taking a shower and doing your laundry on the same day. And the restrictions are progressive (see what I did there?), they will keep getting worse.
I’m always amazed that Prop 13 hasn’t been repealed yet. That would obliterate a lot of people, especially seniors.
We are so grateful that we fled in 2015. It comes up almost daily.
its them against the multitude who suffer...
communism....its simply a small group taking from everybody else..
Puerto Rico gave us a clue—natural disaster that took away the façade of normalcy.
In California’s case a few big earthquakes, loss of power for several weeks, and world-class urban riots might be the straw that breaks the camel’s back.
Tech doesn’t work well without electric power...
Calipornia’s recent millionaire tax has driven out 183 millionaires as of last week. States, county, city, and special district taxes aare raised and imposed with no consideration of the total burden on the taxpayer. Cali’s whole year tax for partial year residency is now before the courts and is expected to be declared illegal. The same will occur to any concieved ‘exit’ tax as it generally creates conditions of ‘servitude’ which is illegal. It literally imposes serfdom on those subject to such taxes.
Cali has already crossed the financial suicide line and it is just a matter of time until the panic starts. Once the panic does start the whole states financial edifice will crumble overnite.
One of the reasons for the $10bil surplus is deferred maintenance. The Oroville dam spillway project will cost $2bil alone and the Feds just told them no FEMA money for it as the causation was “deferred maintenance”. California is using deferred maintenance of previously paid for capitol infrastructure as a piggy bank to fund their socialist wet dream. That money would evaporate in a nanosecond if it were to be plowed into just maintenance, let alone capitol projects such as water infrastructure that has been identified as a “dire need”. Don’t even get me started on the $65bil high speed train to nowhere.
The debt bomb explosion will be precipitated by The Biggun
And AG means water and they are squeezing us big time on a commodity we don’t have much of, they won’t spend to stock pile (new reservoirs), and are taxing us big time in tiers based on use. The mass restrictions get worse each year. When you mention we are #1 in the nation with AG, makes me wonder how much the taxpayers are taking up the slack there for them to allow this to happen. Basically robbing Peter to pay Paul in both water and in funding the cost of it. We all noticed the taxes and pricing on water didn’t go down when the drought ‘temporarily’ went away.
My daughter and her husband left Studio City for a new home in a suburb of Phoenix. They earn the same money they did in CA, but the taxes are significantly less and the new home cost a quarter of what it would have in their area in CA. And they love the hiking and biking in AZ.
Vallejo was a precursor to exactly what this article is talking about. That was several years ago.
One thing that will help this to collapse sooner rather than later is that, unlike the old USSR, people are free to leave.
And they will. They already are. But it will get MUCH worse.
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