Original source of the numbers, which seems quite readable: https://www.lao.ca.gov/Publications/Report/4819 https://www.lao.ca.gov/Publications/Report/4819 Of

Original source of the numbers, which seems quite readable: https://www.lao.ca.gov/Publications/Report/4819 https://www.lao.ca.gov/Publications/Report/4819 Of particular relevance to HN: > In particular, investment in California startups and technology companies is especially sensitive to financial conditions and, as a result, has dropped significantly. For example, the number of California companies that went public (sold stock to public investors for the first time) in 2022 and 2023 is down over 80 percent from 2021. As a result, California businesses have had much less funding available to expand operations or hire new workers.