Category: california

A Bird’s Eye View of the World’s Largest Cannabis Markets



The History of Cannabis Prohibition in the U.S. Part 1 of 5
A Bird’s Eye View of the Largest Cannabis Markets Part 2 of 5
A Guide to Cannabis in the US Part 3 of 5
 The Evolution of Cannabis Markets 4 of 5
Legal Vs Illegal: An Overview of the Cannabis Market Part 5 of 5

The following content is sponsored by Tenacious Labs.

cannabis markets infographic

A Bird’s Eye View of the World’s Largest Cannabis Markets

North America and Europe are home to some of the world’s most famous cannabis cultures, such as California and Amsterdam.

However, even in these undoubtedly successful markets, cannabis legality varies by country—and as this graphic by Tenacious Labs explores, so does its subsequent market value.

The European Cannabis Market

Although the European Union is one single economic market with agreed upon laws and regulations, individual countries still have their say on national laws. Looking at Europe as a region reshapes things again as countries like the UK are outside the EU—further muddying cannabis laws and regulation.

Here is an overview of cannabis’ legal status by European country:

CountryLegal Status
?? AlbaniaIllegal
?? AndorraIllegal
?? ArmeniaIllegal
?? AustriaIllegal, decriminalized
?? BelarusIllegal
?? Bosnia and HerzegovinaIllegal
?? BelgiumLegal for medical use
?? BulgariaIllegal
?? Czech RepublicLegal for medical use, decriminalized
?? CroatiaLegal for medical use, decriminalized
?? DenmarkLegal for medical use
?? EstoniaLegal for medical use
?? FinlandLegal for medical use
?? FranceLegal for medical use
?? GeorgiaIllegal
?? GermanyLegal for medical use, decriminalized
?? GreeceLegal for medical use
?? HungaryIllegal
?? IcelandIllegal
?? IrelandLegal for medical use
?? ItalyLegal for medical use, decriminalized
?? KosovoIllegal
?? LatviaIllegal
?? LiechtensteinIllegal
?? LithuaniaLegal for medical use
?? LuxembourgLegal for medical use, decriminalized
?? MaltaLegal
?? MoldovaIllegal, decriminalized
?? MonacoIllegal
?? MontenegroIllegal
?? NetherlandsLegal for medical use, decriminalized
?? North MacedoniaLegal for medical use
?? Norway (Read more...)

Is $1 Million Enough for Retirement in America?


This post is by Carmen Ang from Visual Capitalist


Retirement Savings in America

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Is $1 Million Enough for Retirement in America?

The average American needs their retirement savings to last them 14 to 17 years. With this in mind, is $1 million in savings enough for the average retiree?

Ultimately, it depends on where you live, since the average cost of living varies across the country. This graphic, using data compiled by GOBankingRates.com shows how many years $1 million in retirement savings lasts in the top 50 most populated U.S. cities.

How Long $1 Million Would Last in 50 Cities

To compile this data, GOBankingRates calculated the average expenditures of people aged 65 or older in each city, using data from the Bureau of Labor Statistics and cost-of-living indices from Sperling’s Best Places.

That figure was then reduced to account for average Social Security income. Then, GOBankingRates divided the one million by each city’s final figure to calculate how many years $1 million would last in each place.

Perhaps unsurprisingly, San Francisco, California came in as the most expensive city on the list. $1 million in retirement savings lasts (Read more...)

Ranked: The Fastest Growing Cities in the U.S.


This post is by Carmen Ang from Visual Capitalist


The Fastest Growing Cities in the U.S.

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Yes. Visualizations are free to share and post in their original form across the web—even for publishers. Please link back to this page and attribute Visual Capitalist.
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Licenses are required for some commercial uses, translations, or layout modifications. You can even whitelabel our visualizations. Explore your options.
Interested in this piece?
Click here to license this visualization.

The Briefing

  • Five of the 20 fastest growing cities are in California
  • However, California’s population growth as a whole has become stagnant over the last few years
  • Between 2020-2025, the fastest growing U.S. city is expected to be The Woodlands, TX

Ranked: The Fastest Growing Cities in the U.S.

The world has become increasingly more urbanized, especially in America. Despite being one of the largest countries on the planet, over 80% of the U.S. population currently is concentrated in key metropolitan areas, and this urban concentration is only expected to increase in the coming years.

Which U.S. cities are leading this growth?

Here are the fastest growing urban areas in the U.S. with over 300,000 residents, based on their projected annual growth rate from 2020 to 2025.

RankCityStateAvg. Growth Rate ('20-'25p)
1The WoodlandsTexas4.76%
2Temecula-MurrietaCalifornia3.66%
3ConcordNorth Carolina3.51%
4VisaliaCalifornia3.39%
5Myrtle BeachSouth Carolina3.16%
6Fayetteville-SpringdaleArkansas3.04%
7KissimmeeFlorida2.95%
8CharlotteNorth Carolina2.84%
9Victorville-Hesperia-Apple ValleyCalifornia2.82%
(Read more...)

The U.S. States with the Top Tech Salaries in 2021


This post is by Carmen Ang from Visual Capitalist


Average Tech Salary Across the US Best Paying States

The U.S. States with the Top Tech Salaries in 2021

In 2020, despite the economic turmoil caused by the global pandemic, America’s tech sector experienced rapid growth. Last year, the total number of U.S. tech jobs grew by 60,000.

Because of this demand, U.S. employers are willing to pay for the right talent—on average, tech workers in the U.S. earn about 61% more than the average salary. But some tech workers make more than others, depending on where they live.

This graphic by business.org uses data from the Bureau of Labor Statistics (BLS) to highlight the average annual tech salaries in each state, compared to the average salary of other occupations. We’ll also touch on the top-paying metro areas, and what type of tech jobs offer the highest compensation across the country.

Average U.S. Tech Salaries by State

Perhaps unsurprisingly, Washington and California have the highest average salaries, largely because of the high job density in those areas.

However, when it comes to the difference in tech salary versus average salary, Alabama takes the top spot—on average, tech jobs pay 85% more than other occupations in that state.

RankStateAverage hourly wage for tech workersAverage salary for tech workers% more that tech workers earn than all occupations
1Alabama$41.69$86,72085%
2Washington$58.96$122,64083%
3North Carolina$44.19$91,92080%
4Texas$45.04$93,69079%
5Virginia$51.50$107,13078%
6California$56.16$116,82078%
7Georgia$44.00$91,51076%
8Delaware$47.76 (Read more...)

Sundae closes on $80M for residential real estate marketplace



Sundae, a residential real estate marketplace that pairs sellers of dated or damaged property with potential buyers, has raised $80 million in a Series C funding round co-led by Fifth Wall and General Global Capital.

QED Investors, Wellington Management, Susa Ventures, Founders Fund, First American Financial, Prudence Holdings, Crossover VC, Intersect Capital, Gaingels and Oberndorf Ventures also participated in the financing. The round marks San Francisco-based Sundae’s third financing in a 13-month time frame, bringing its total raised since its August 2018 inception to $135 million. 

The San Francisco-based company declined to reveal at what valuation its Series C was raised. It also declined to provide hard revenue figures, saying only that it saw a 600% year-over-year increase in revenue from June 2020 to June 2021.

The startup aims to help people who need to sell dated or “damaged” properties for a variety of reasons — such as job loss, illness or divorce. In some cases, according to CEO and co-founder Josh Stech, such vulnerable sellers get taken advantage of by “predatory fix and flippers” seeking to capitalize on their misfortune. 

Since sellers in these situations don’t typically have the funds to fix up their properties before selling, Sundae lists the property for them on its platform – serving as an intermediary between sellers and investors. There, it is visible to about 2,600 qualified off-market buyers.

The company essentially aims to aggregate demand from “fix and flippers,” who use the marketplace to bid against each other for distressed properties. (Read more...)

Abodu raises $20M to build prefabricated backyard homes



The need for more affordable housing has never been more urgent as a shortage in the U.S. housing market persists.

Startups attempting to help address the shortage in a variety of ways abound. One such startup, Abodu, has raised $20 million in a Series A funding round led by Norwest Venture Partners. Previous backer Initialized Capital also participated in the financing, along with Redfin CEO Glenn Kelman, former Stockton, California Mayor Michael Tubbs, GGV investor Hans Tung and Paradox Capital’s Kyle Tibbitts.

The California legislature changed laws in 2017 to make it easier to build Accessory Dwelling Units (ADUs). Then on January 1, 2020, the state of California made it dramatically easier to add extra housing units to single-family home sites. Cities and local agencies have to quickly approve or deny ADU projects within 60 days of receiving a permit application. The state also now prevents cities from imposing minimum lot size requirements, maximum ADU dimensions or off-street parking requirements. 

Redwood City, California-based Abodu, which builds prefabricated ADUs, was founded in 2018 to serve as a “one-stop shop” for building an ADU, or as some describe it, a home in a backyard.

Image Credits: Co-founders John Geary and Eric McInerney / Abodu

What sets the company apart from others in the space, its execs claim, is that it not only builds and installs the units, it helps homeowners with the painful process of getting permits. Abodu says it pre-approves its structural engineering with California state-level agencies to ensure its (Read more...)

Interactive: How the U.S. Population Has Changed in 10 Years, by State


This post is by Iman Ghosh from Visual Capitalist


U.S. Population Change in the Last Decade, by State

The U.S. is the third most-populated country in the world, behind only two Asian giants of China and India respectively. But within the country, a lot can change in 10 years, and populations are especially mutable in nature.

As people moved in and out of certain areas for both lifestyle and economic reasons, which U.S. state populations fluctuated the most?

Drawing from the latest Census Bureau data, we look at how each state’s resident populations evolved over the past decade. But first, a blast from the past.

Historical Trends: U.S. Population Since the 1930s

Population growth trends in the U.S. have been closely tied to the economic ebbs and flows experienced by the nation. In one stark example, the country’s 10-year population growth rate plummeted to just 7.3% due to the Great Depression.

US Population Growth % Change by Decade

This was later offset by the post-WWII “Baby Boom”, during which birth rates soared once more, bumping up the population 10-year growth rate to 18.5% in the 1950s. The Baby Boomer generation now wields the most influence over the U.S. economy and society thanks to the favorable economic conditions in which they were born.

However, U.S. population growth rates recently hit new lows—the slower pace in the 2010s is rivalling that of the 1930s. According to Brookings, there area few factors at play:

  • Falling fertility rate
  • An increase in deaths (aging population, overdose deaths)
  • Lower immigration rate

With all this in mind, how does the current landscape (Read more...)

Robinhood files to go public after squeaking to profitability in 2020



This afternoon Robinhood, the popular investing app for consumers filed to go public. The company intends to list on the NASDAQ under the symbol “HOOD.”

That Robinhood released an S-1 filing today is not a surprise. The company privately filed to go public back in March, leaving the startup-watching world waiting for the eventual filing drop. Robinhood’s public offering document includes a placeholder $100 million raise figure, though that will change the closer we get to its debut.

The company is pursuing a public listing after a period of rapid growth. Robinhood saw its revenues soar from $277.5 million in 2019 to $985.8 million in 2020.

The company’s first-quarter numbers are even more impressive. During the first three months of 2021, Robinhood generated revenues of $522.2 million, up around four times from its Q1 2020 result of $127.6 million. TechCrunch expected Robinhood to post a strong first quarter based on previous filings relating to its payment-for-order-flow (PFOF) business.

Notably, Robinhood was profitable in 2020, generating net income of around $7.4 million during the one-year period. However, the company’s most recent period includes an epic $1.49 billion cost relating to “change[s] in fair value of convertible notes and warrant liability,” leading the company to post an astronomical net loss of $1.44 billion in the first quarter of the year. That compares with a net loss of $107 million for 2019.

For the three-month period ended March 31, Robinhood posted $463.8 million in operating expenses, inclusive of “brokerage and transaction” costs. The (Read more...)

Tiger Global leads $30M investment into Briq, a fintech for the construction industry



Briq, which has developed a fintech platform used by the construction industry,  has raised $30 million dollars in a Series B funding round led by Tiger Global Management.

The financing is among the largest Series B fundraises by a construction software startup, according to the company, and brings Briq’s total raised to $43 million since its January 2018 inception. Existing backers Eniac Ventures and Blackhorn Ventures also participated in the round.

Briq CEO and co-founder Bassem Hamdy is a former executive at construction tech giant Procore (which recently went public and has a market cap of $10.4 billion) Canadian software giant CMIC. Wall Street veteran Ron Goldshmidt is co-founder and COO.

Briq describes its offering as a financial planning and workflow automation platform that “drastically reduces” the time to run critical financial processes, while increasing the accuracy of forecasts and financial plans.

Briq has developed a toolbox of proprietary technology that it says allows it to extract and manipulate financial data without the use of APIs. It also has developed construction-specific data models that allows it to build out projections and create models of how much a project might cost, and how much could conceivably be made. Currently, Briq manages or forecasts about $30 billion in construction volume.

Specifically, Briq has two main offerings: Briq’s Corporate Performance Management (CPM) platform, which models financial outcomes at the project and corporate level and BriqCash, a construction-specific banking platform for managing invoices and payments. 

Put simply, Briq aims to allow (Read more...)

The Golden State: A Closer Look at Mining in California



The following content is sponsored by KORE Mining.

The Golden State: A Closer Look at Mining in California

California is known as the Golden State for its history of gold production in the 19th and 20th centuries, and the mining industry continues to build on its rich history to this day.

With roughly $4.7 billion worth of non-fuel minerals produced in 2020, the Golden State is one of the largest states for mining and the sole source of rare earth elements in the United States.

The above infographic from KORE Mining highlights how California earned its famous nickname, and how its mining industry continues to shine today, just like its gold.

How the Golden State Found its Name

Back in the late 1770s, during the period of Spanish colonization in California, a group of Spaniards discovered gold in Imperial County, and small-scale mining began. However, it was not until 1848 that gold mining really kicked off.

In 1848, James Marshall—a carpenter and sawmill operator—went down to the American River in Coloma to inspect progress on a sawmill under construction, and saw something that defined the future of California’s economy.

“My eye was caught by something shining in the bottom of the ditch. . . . I reached my hand down and picked it up; it made my heart thump, for I was certain it was gold. . . Then I saw another.”

— James Marshall via Library of Congress.

As word spread, thousands of prospectors and gold-seekers made their (Read more...)