[/caption]The Los Angeles Times is reporting that venture capitalists have increased their investments in California. This bodes well for the state, because it means eventual jobs for locals who are currently struggling.
Everyone knows that California is in economic dire straits, and that it was one of the first states to show the economic symptoms that are currently plaguing the United States. In saying that, if California was one of the first states to suffer the symptoms of the downturn, then perhaps it may be the first to show signs of an economic upswing.
The question that begs itself is why the sudden spurts of investments in California? They must see that the season is ripe and with favorable banking rates, these factors may have contributed to the sudden increase in activity.
The proof is in the pudding because of the $7.7 billion put in by investors during the recession - over 51% went to ventures in California. It is just like the old days of the “dot-com” era, which brought us such growth and prosperity during the Clinton Presidency - but we must also remember the “dot coms” subsequent bubbles that burst.
The new venture capitalists are not only investing in tech, but the investments run the gamut: like $31 million in HauteLook, an online private shopping club, renewable energy, and health care. One can see that the money following legislation that is in vogue in Washington, D.C.
We can only hope that these investments are a trend, foretelling what is on the economic horizons, and also hoping that it rivals that of the Clinton era.
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