California comes out on top
California gloom and doom has been a hallmark of this pandemic, but was it premature? A recent Bloomberg article notes that the state is excelling in a host of economic measures: rapidly-growing GDP, rising household incomes, high-tech manufacturing employment, small business valuations and investments in innovation, among others. Despite dire predictions, the state's operating budget hit a staggering $75 billion surplus, driven mainly by a soaring tech sector, rising share prices and remote workers staying employed during the pandemic.
- Is the California exodus a myth or is it real?
- Here's a more detailed argument for why betting against California was wrong.
- Read a Business Insider piece from a decade ago arguing why California is bound to fail.
- The cost of California fires remains high.