The Housing Chronicles Blog: The reports of California's death have been greatly exaggerated

Wednesday, October 28, 2009

The reports of California's death have been greatly exaggerated

Given the recent spate of articles which (again) are predicting the demise of California, Time magazine has a pretty impressive counter-attack in the Nov. 2nd issue. From the article:

Ignore the California whinery. It's still a dream state. In fact, the pioneering megastate that gave us microchips, freeways, blue jeans, tax revolts, extreme sports, energy efficiency, health clubs, Google searches, Craigslist, iPhones and the Hollywood vision of success is still the cutting edge of the American future — economically, environmentally, demographically, culturally and maybe politically.

It's the greenest and most diverse state, the most globalized in general and most Asia-oriented in particular at a time when the world is heading in all those directions. It's also an unparalleled engine of innovation, the mecca of high tech, biotech and now clean tech.

In 2008, California's wipeout economy attracted more venture capital than the rest of the nation combined. Somehow its supposedly hostile business climate has nurtured Google, Apple, Hewlett-Packard, Facebook, Twitter, Disney, Cisco, Intel, eBay, YouTube, MySpace, the Gap and countless other companies that drive the way we live...

Take that, The Guardian! Read the entire article here.

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