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California has the 4th largest economy in the world and is growing faster than most states. In 2019 alone, California probably created ~$300bn in public value t

by dmode 7y ago

California has the 4th largest economy in the world and is growing faster than most states. In 2019 alone, California probably created ~$300bn in public value through IPOs. Clearly, the regulatory environment seems to be great for running a business

malandrew 7y ago
California succeeds despite the regulatory environment. Hollywood is there because of the great weather and sunshine which allowed filming all year long. Tech is there because of the defense industry set up there during WWII. Agriculture is there because of the great weather and soil. Basically, every advantage California has is the result of its geography and weather. If you remove these three industries, there isn't much of an economy that isn't dependent on the money that these three industries bring into the state.
- dmode 7y ago
  Florida has all of these, but doesn’t have the same economy Edit: actually, let me get into more detail on why I reject this hypothesis that I hear all the time "California is successful despite its govt / regulations etc.". I reject it in the simple notion that if the regulatory environment was bad for business, it will BE bad for business and it will play out over a time period on actual outcome. It is almost like a product manager saying that "I have the best product, but my users hate it". The fact is that the regulatory environment created the most successful economy in the US is the only thing that matters. Now let me get into why the regulatory machine works - first of all California legislature understands that we live in a knowledge economy - which means a low value regulatory relief like tax cut is unimportant. Rather, what people in the knowledge economy are looking for are safety nets, equality, worker protections, anti-competes, accessible healthcare, acceptance etc. The same arc that provides the strongest LGBT protection in the nation also passes AB5, with the sole intention of protecting worker rights. California laws provides volumes of the above - resulting in global talent willing to move here. Couple that with strong environmental protections, which not only provide recreational opportunities, but also spurs alternative industries. Looks the explosion in solar providers, electric car companies etc.
  - sloaken 7y ago
    Given your first line 'Florida has all of these, but doesn’t have the same economy' is wrong in so many ways, I have a hard time accepting your second paragraph.
    - malandrew 7y ago
      Yup, someone clearly doesn't know much about the history of Florida, which was swampy and mosquito invested and only really became inhabitable after the invention of air conditioning and when terraforming become advanced enough to drain swampy areas. It was basically continental America's last frontier. https://www.politico.com/magazine/story/2017/09/08/hurricane-irma-florida-215586 https://www.politico.com/magazine/story/2017/09/08/hurricane...

by dmode 7y ago

malandrew 7y ago

California succeeds despite the regulatory environment. Hollywood is there because of the great weather and sunshine which allowed filming all year long. Tech is there because of the defense industry set up there during WWII. Agriculture is there because of the great weather and soil. Basically, every advantage California has is the result of its geography and weather. If you remove these three industries, there isn't much of an economy that isn't dependent on the money that these three industries bring into the state.

dmode 7y ago
Florida has all of these, but doesn’t have the same economy Edit: actually, let me get into more detail on why I reject this hypothesis that I hear all the time "California is successful despite its govt / regulations etc.". I reject it in the simple notion that if the regulatory environment was bad for business, it will BE bad for business and it will play out over a time period on actual outcome. It is almost like a product manager saying that "I have the best product, but my users hate it". The fact is that the regulatory environment created the most successful economy in the US is the only thing that matters. Now let me get into why the regulatory machine works - first of all California legislature understands that we live in a knowledge economy - which means a low value regulatory relief like tax cut is unimportant. Rather, what people in the knowledge economy are looking for are safety nets, equality, worker protections, anti-competes, accessible healthcare, acceptance etc. The same arc that provides the strongest LGBT protection in the nation also passes AB5, with the sole intention of protecting worker rights. California laws provides volumes of the above - resulting in global talent willing to move here. Couple that with strong environmental protections, which not only provide recreational opportunities, but also spurs alternative industries. Looks the explosion in solar providers, electric car companies etc.
- sloaken 7y ago
  Given your first line 'Florida has all of these, but doesn’t have the same economy' is wrong in so many ways, I have a hard time accepting your second paragraph.
  - malandrew 7y ago
    Yup, someone clearly doesn't know much about the history of Florida, which was swampy and mosquito invested and only really became inhabitable after the invention of air conditioning and when terraforming become advanced enough to drain swampy areas. It was basically continental America's last frontier. https://www.politico.com/magazine/story/2017/09/08/hurricane-irma-florida-215586 https://www.politico.com/magazine/story/2017/09/08/hurricane...