by California 100 Research Partner Sean Randolph
California’s economy is diverse, but its greatest asset is technology, with much of the world viewing the state – and the Bay Area in particular – as the global center of innovation. However, there are growing concerns with a range of issues that could erode California’s technology leadership.
Tech accounts for nearly one-fifth of the economic value produced in the state. The $520 billion that it contributes represents more than a quarter of all U.S. tech output – more than the next four states combined. California leads the nation in tech businesses and dominates the IPO pipeline with 56% of the nation’s private companies valued at more than $1 billion. Silicon Valley ranks as the world’s No. 1 startup ecosystem, followed by Los Angeles at No. 6 and San Diego at No. 21.
Read more on CalMatters’ website here.