National Guard shooting suspect in 'dire,' 'self-inflicted' health condition after refusing to eat: filing
Cops probing ex-Prince Andrew set to fly to US to interview accuser Virginia Giuffres family: reports
Billionaire exodus? California drew 10 times more venture capital than any other state this year
This is read by an automated voice.Please report any issues or inconsistencies here.
See more from the L.A.Times in Google Search.
Set us as preferred Despite concerns that California’s costs and regulations are bad for business, the state has attracted an unprecedented pile of capital this year, and no other state is even close.The Golden State’s deep pool of talent, rich investors and other tech infrastructure have made it ground zero for the artificial intelligence explosion.
That has helped it attract more than $335 billion in venture capital funding this year, according to PitchBook’s private market funding data released Thursday.Its next biggest competitor, New York, raised less than a tenth of California’s total.Texas raised 1/40th of the amount.
“California has far and away the most [deals], obviously, a huge amount of that sits in the [San Francisco] Bay Area,” said Kyle Stanford, director of U.S.venture capital research at PitchBook.
“Los Angeles, San Diego has a really strong tech market that I think benefits a lot from capital moving easily between San Francisco and L.A.” Business Although there have been high-profile defections to other states, California still attracts businesses — and creates a lot of them.Although a campaign for a new tax on billionaires has convinced some ultra-rich residents to shift to other states and businesses often complain that high property and energy costs and an anti-business regulatory regime make it too tough to make money in the state, the inability of the top talent, companies and investors in AI to set up elsewhere shows California’s enduring attraction.The state’s economy grew 5% last year to a record $4.25 trillion, making it larger than every country other than the U.S., China and Germany.
It is home to nearly 400 billion-dollar startups — more than any other state, according to CB Insights.Southern California has emerged as a go-to address for fast-growing space and defense t...