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Study: 1-in-5 Southern California renters could afford to buy a local home

Is the “Southern California is unaffordable” message scaring off house hunters who could qualify to own? Stats from the California Association of Realtors estimate that Southern California has 576,613 renting households — roughly 1-in-5 of all tenants — with the financial oomph to buy a local residence, Now the data doesn’t tell us the thinking of this good-sized group of relatively well-paid non-owners in Los Angeles, Orange, Riverside and San Bernardino counties. But this is a demographic slic...
Tags: Business, Housing, Economy, Jobs, Real Estate, Top Stories Breeze, Top Stories IVDB, Top Stories LADN, Top Stories LBPT, Top Stories OCR, Top Stories PE, Top Stories PSN, Top Stories RDF, Top Stories SGVT, Top Stories Sun, Top Stories WDN


Announcing [email protected]: The Roots and Future of the Internet

The first short message went out over Arpanet, the precursor to the internet, 50 years ago this year—and it changed everything. Much of the change has been wonderful—as the internet has revolutionized communication, commerce, and access to information, in the process transforming and improving the lives of billions of people. But as we are ever more acutely aware, that very technology infrastructure is also a tool for scams, identity and financial theft, election fraud, and oppression.These are...
Tags: Boston, Boston blog main, Boston top stories, Detroit blog main, National blog main, National top stories, New York blog main, Raleigh-Durham blog main, San Diego blog main, San Francisco blog main, Seattle blog main, Texas blog main, Wisconsin blog main, Bob Kahn, Bob Metcalfe, Competitiveness


California has No. 1 wage gap between middle-income pay and what wealthy earn

California has the nation’s largest wage gap between middle-income pay and what the state’s upper crust earns. I filled my trusty spreadsheet with some detailed federal pay stats by state — annual wages for all workers, as of May 2018 — to compare California’s upper-income wages (defined by the 75th percentile, where three-quarters of all wages are lower, one-quarter are above) to the state’s median wage, the statistical mid-point that can serve as a benchmark for middle-income pay. Last year’s ...
Tags: Business, New York, Jobs, News, Mississippi, California, Virginia, Massachusetts, California News, West Virginia, Sport, Economy, Soccer, North Dakota, Arkansas, South Dakota


Binance’s hotly-anticipated Singapore crypto exchange is now live — and underwhelming

Binance, the company widely seen as the world’s largest crypto exchange, has officially set up shop in Singapore after it launched a service in the country. The new Singapore service, however, bears more of a resemblance to U.S. rival Coinbase than a classic Binance exchange. Binance’s rapid ascent is thanks to a service that lets users trade a range of crypto tokens with very little verification or individual data required. It’s Singapore venture is quite the opposite: it allows customers to...
Tags: Asia, Money, Southeast Asia, Singapore, Tech, Spokesperson, Author, Economy, Uganda, Bitcoin, United States, Cryptocurrencies, Coinbase, Cryptocurrency, Blockchain, Decentralization


Resurgent HappyFresh raises $20M for its online grocery service in Southeast Asia

It’s been a tricky past few years for HappyFresh, the startup seeking to bring Instacart-like grocery deliveries to Southeast Asia. It’s been through a series of rebuilding measures, but there’s light at the end of the tunnel after it announced a $20 million Series C. Launched in 2015, HappyFresh quickly raised $12 million to expand its vision of digital deliveries across Southeast Asia. In late 2016, however, the tough economics of its business saw it pull out of two markets, as it raised an...
Tags: Fundings & Exits, TC, Asia, Indonesia, Finance, China, Southeast Asia, Singapore, Funding, Tech, Ceo, Economy, Thailand, Philippines, Malaysia, Middle East


With driverless cars running late, a startup tries remote-control trucks

Phantom Auto's plans underscore that after years of development and more than $10 billion in investment, autonomous vehicles still aren't ready for widespread public use.
Tags: Business, Technology, News, Economy


Southern California paychecks soar with workers in short supply

Here’s even more evidence that Southern California’s running out of workers: one measure of pay shows wages are growing at the quickest pace in five years. March employment data shows the post-recession hiring spree has finally forced bosses to pay up. Average private-sector weekly earnings in March — complied from wage stats and figures on hours worked — for the region’s two metropolitan areas were rising at the fastest pace since March 2014. That came as local bosses — who’ve added workers on ...
Tags: Business, Jobs, California, Los Angeles, Sport, Economy, Soccer, Southern California, San Bernardino, Los Angeles Orange Riverside, Southern California News Group, U S credit, Top Stories LADN, Top Stories OCR, Top Stories PE, Top Stories IVDB


Bubble Watch: California’s population growth trails U.S. for 3 consecutive years

“Bubble Watch” digs into trends that may indicate economic and/or housing market troubles ahead. Buzz: California population growth has failed to top the national pace for the third year in a row — a rare occurrence that previously happened amid grand economic uncertainty. Source: U.S. Census Bureau Trend reported: As of July, census reports California had 39,557,045 residents — again, No. 1 in the nation — and up 157,696 in a year — the third-largest gain in the number of people. But the growth...
Tags: Business, Real Estate, Jobs, News, California, California News, Sport, Economy, Soccer, Southern California, Golden State, Top Stories LADN, Top Stories OCR, Top Stories PE, Top Stories IVDB, Top Stories RDF


Equity Shot: Pinterest zooms into the public markets (and yet another tech company files for an IPO)

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This is a relaxed, Friday, Equity Shot. That means Kate and Alex were on deck to chew through the latest from the IPO front. We’ll keep doing extra episodes as long as we have to, though we’re slightly sorry if we’re becoming a bit much. That’s a joke — we’re not sorry at all. So, three things this week. First, Fastly filed an S-1 (Alex’s notes here); second, Zo...
Tags: Apple, Startups, TC, Uber, Money, Pinterest, Podcasts, Finance, Ipo, Tech, Economy, Kate, Equity, Alex, Initial Public Offering, Zoom


Workplace wellness programs barely move the needle, study finds

Workplace wellness programs — efforts to get workers to lose weight, eat better, stress less and sleep more — are an $8 billion industry in the U.S. Most large employers offer some type of wellness program — with growth fueled by incentives in the federal Affordable Care Act. But no one has been sure they […]
Tags: Wellness, Business, News, Fitness, Economy


Sequoia reveals first cohort for its ‘Surge’ accelerator program in India and Southeast Asia

Back in January, Sequoia India announced plans for its first early-stage startup accelerator program in India and Southeast Asia, and today the firm revealed the first cohort of 17 startups. To recap, the program — which is called Surge — gives each startup a $1.5 million check and participation in a four-month program that’s split across India and Singapore, as well as the wider Sequoia global presence in China and San Francisco. The program kicked off last month, but the startups were only unv...
Tags: Google, Fundings & Exits, Facebook, Y Combinator, Asia, Business, Indonesia, Entrepreneurship, China, Southeast Asia, Singapore, India, Funding, San Francisco, Tech, Spokesperson


Los Angeles County loses 13,241 residents, 4th biggest drop among largest U.S. counties

Los Angeles County lost 13,241 residents in the past year, the fourth-biggest drop among the nation’s 100 most-populous counties. Newly released U.S. Bureau Census population stats show the county had 10.11 million residents as of July 1, 2018 — still No. 1 among the nation’s 100 largest counties. Only Illinois’ Cook County (Chicago) and New York’s Kings (Brooklyn) and Queens counties lost more folks in the year. On a percentage basis, that population dip — equal to 0.13% — ranked the county No....
Tags: Business, New York, California, Sport, Economy, Soccer, Queens, Local News, Los Angeles County, Illinois Cook County Chicago, Southern California News Group, Top Stories LADN, Top Stories Breeze, Top Stories LBPT, Top Stories WDN, Top Stories SGVT


Digital health investments slide in the first quarter to $2 billion, according to Mercom Capital

Venture investors, private equity, and corporations funneled $2 billion into digital health startups in the first quarter of 2019, down 19% from the nearly $2.5 billion invested a year ago. There were also 38 fewer deals done in the first quarter this year than last year, when investors backed 187 early stage digital health companies, according to data from Mercom Capital Group. While private investments declined, public equities soared in the first quarter — with 66% of the digi...
Tags: TC, Money, Entrepreneurship, Finance, Tech, Economy, Venture Capital, Private Equity, Telemedicine, Qualcomm Ventures, Mercom, Mercom Capital Group, Mercom Capital


VCs bet on cannabis vaping, ED meds and mobile fertility clinics

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This week was a bit of a reunion with Kate and Alex on as usual, with the addition of Extra Crunch denizen extraordinaire Danny Crichton. Danny, you may recall, has been a semi-regular Equity co-host over the past year. As Kate explains up front, Equity is out a day early this week due to the Big TechCrunch Robotics Affair in Berkeley today. We’ll be back on Friday...
Tags: Apple, Startups, TC, Business, Pinterest, Entrepreneurship, China, Tech, Economy, Venture Capital, Private Equity, Kate, Berkeley, E-cigarette, Alex, Qualcomm


Unpacking Pinterest’s IPO expectations

For seven years, Pinterest has been considered a “unicorn,” boasting a valuation larger than $1 billion since its 2012 Series C funding round. Before that, it was considered an underdog, puzzling some investors with its “digital pinboard” and preference for “quality growth.” Now, as the company takes its final step toward its Thursday NYSE initial public offering, it’s being called an “undercorn.” Pinterest plans to sell shares of its stock, titled “PINS,” at $15 to $17 apiece, less than the ...
Tags: Fundings & Exits, Lyft, Uber, Money, Pinterest, Finance, Ipo, Evernote, Tech, Economy, New York Times, Venture Capital, Square, Search Engine, Silicon Valley, Airbnb


Another day, another U.S. company forced to divest of Chinese investors

Jeff Farrah Contributor Share on Twitter Jeff Farrah is the general counsel of the National Venture Capital Association. More posts by this contributor US rule changes could mean more startups would need government approval to hire immigrants Foreign investment scrutiny continues to creep into the startup world via a once obscure U.S. government agency that has new tools and a shift in focus that stan...
Tags: Column, Real Estate, Technology, Money, Congress, Entrepreneurship, Finance, China, US, Tech, Economy, Canada, United States, Chile, Venture Capital, Treasury


Cruise ships’ seasonal northward migration reaches Seattle

The first cruise ship to dock at Seattle’s Pier 66 for the cruise season is the 1,041-foot Celebrity Eclipse, which can carry more than 2,800 passengers. The ship was scheduled to head Monday evening to Victoria, B.C., and a six-day sail to Hawaii, then return to Vancouver for a summer of round trips to Alaska. […]
Tags: Travel, Business, News, Economy, Alaska, Hawaii, Vancouver, Seattle, Victoria B C


Feel bad for Southern California’s tenants as vacancy tightens and rents climb

You have to feel for local renters. Their options are limited. Rents are soaring. And constructing a solution — both literally and figuratively — is nearly impossible to pull off, politically and economically. But first, let’s ponder how tough it is to be a Southern California renter when just finding an empty unit is tricky. Last year in Los Angeles and Orange counties, only 4% of the rental supply was vacant, the No. 7 tightest market among 75 major metro areas tracked in a new Census Bureau r...
Tags: Utah, Business, Real Estate, Colorado, California, Housing, Los Angeles, Georgia, Sport, Economy, Soccer, Arizona, Nevada, Southern California, San Bernardino, Don


Another day, another US company forced to divest of Chinese investors

Jeff Farrah Contributor Share on Twitter Jeff Farrah is the general counsel of the National Venture Capital Association. More posts by this contributor US rule changes could mean more startups would need government approval to hire immigrants Foreign investment scrutiny continues to creep into the startup world via a once obscure U.S. government agency that has new tools and a shift in focus that stan...
Tags: Column, Real Estate, Technology, Money, Congress, Entrepreneurship, Finance, China, US, Tech, Economy, Canada, United States, Chile, Venture Capital, Treasury


Bubble Watch: Is funding for Southern California’s startups drying up?

“Bubble Watch” digs into trends that may indicate economic and/or housing market troubles ahead. Buzz: Southern California’s venture capital funding in the first quarter was off 29% vs. the start of 2018. Source: Dow Jones VentureSource Trend reported: Fledgling companies based from Santa Barbara to the Mexican border raised $2 billion in 103 deals in 2019’s first three months vs. a year earlier when 165 deals raised a first-quarter record $2.84 billion. That drop looks even worse when you ponde...
Tags: Business, California, Los Angeles, Sport, Economy, Soccer, Silicon Valley, Dow Jones, Santa Barbara, Bay Area, Southern California, Carlsbad, Irvine, Hawthorne, Culver City, Agoura Hills


Just 4% of Los Angeles-Orange County rental units empty, 7th tightest U.S. market

Folks seeking a residence in Los Angeles and Orange counties had fewer choices of empty rentals last year. Vacant units equaled 4% of the L.A.-O.C. rental supply in 2018, the No. 7 tightest market among 75 major metro areas tracked in a new Census report. Here’s eight things to know about the local rental market from recent government reports: 1. Nothing new: In 2017, 4.1% local units were empty, No. 7 nationally, after L.A.-O.C. had the nation’s lowest vacancy rate, 2.9%, in 2016. It’s a long-r...
Tags: Business, Real Estate, California, Housing, Massachusetts, Fresno, Los Angeles, Sport, Economy, Soccer, Orange, Charleston, San Bernardino, Riverside, Akron Ohio, Birmingham Ala


African e-commerce startup Jumia’s shares open at $14.50 in NYSE IPO

Pan-African e-commerce company Jumia listed on the New York Stock Exchange today, with shares beginning trading at $14.50 under ticker symbol JMIA. This comes four weeks after CEO Sacha Poignonnec confirmed the IPO to TechCrunch and Jumia filed SEC documents. With the public offering, Jumia becomes the first startup from Africa to list on a major global exchange. In an updated SEC filing, Jumia indicated it is offering 13,500,000 ADR shares, for an opening price spread of $13 to $16 per share, r...
Tags: Amazon, TC, Business, Ipo, Germany, Nigeria, Africa, Tech, E-commerce, Ceo, Economy, Smartphones, Companies, Egypt, Morocco, Alibaba


Boeing’s other problem: Much-needed Air Force tanker keeps hitting snafus

Even when the company turns the corner on the much-delayed Pegasus program, the new tanker will face threats different from the Cold War or the wars of recent years.
Tags: Business, News, Economy, Pegasus, Air Force, Boeing, Boeing & Aerospace


Aldi opens in Panorama City to lines of curious shoppers

It was mainly the vegan cheese dip and other plant-based offerings that brought Sandra Perez and her friend, Maritza Oropeza, to the Aldi grocery store’s grand-opening in Panorama City on Thursday. But the store’s unique, quarter-operated shopping cart system also might have been a draw. “Oooh, their carts,” Oropeza said, becoming animated when Perez brought up the subject. Aldi’s shopping cart system requires patrons to insert a quarter into the handle in order to unlatch it. And to get the qua...
Tags: Business, News, California, Walmart, Sport, Aldi, Economy, Soccer, United States, Supermarket, Local News, Roma, Joe, Southern California, Perez, Santa Clarita


Equity Shot: A deep dive into the Uber S-1

 Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. It’s time for another Equity Shot, a quick-take episode centered around a breaking news event. This time, as you already guessed, Kate Clark and I sat down to dig into the Uber S-1. It’s a huge, complex document, but we did our best to summarize what’s inside. First, we talked through yearly results, looking back a half-decade into Uber’s revenue growth. In t...
Tags: Apple, Startups, TC, Transportation, Uber, Finance, Ipo, Softbank, Chief executive officer, Tech, Economy, Transport, Venture Capital, Commuting, Travis Kalanick, Carsharing


DHL launches Africa eShop app for global retailers to sell into Africa

DHL is launching an e-commerce app called DHL Africa eShop for global retailers to sell goods to Africa’s consumers markets. The platform goes live today and brings more than 200 U.S. and UK retailers—from Nieman Marcus to Carters—online in 11 African markets: South Africa, Nigeria, Kenya, Mauritius, Ghana, Senegal, Rwanda, Malawi, Botswana, Sierra Leone, and Uganda. DHL Africa eShop will operate using startup MallforAfrica.com’s white label service, Link Commerce. Payment methods wi...
Tags: Amazon, TC, Business, UK, Ebay, Nigeria, Africa, Marketing, Tech, Senegal, E-commerce, Ceo, Economy, Online Shopping, Uganda, United States


Cathay Capital and AfricInvest to raise $168M Africa VC fund

Tunisia based private equity firm Africinvest has teamed up with Cathay Capital — a global private equity firm based in Paris — to launch a new Africa tech fund with a target raise of $168 million. Details are still forthcoming, but the Cathay Africinvest Innovation Fund will focus primarily on series A to C stage investments in African technology companies, says fund co-founder Denis Barrier. “We’ll look at investments across several countries in Africa. We’ll focus on areas such as fintech, lo...
Tags: TC, Asia, Europe, Technology, Money, Finance, Africa, Tech, Banking, Economy, United States, Aol, Paris, Middle East, Dubai, Private Equity


Cathay Innovation and AfricInvest to raise $168M Africa VC fund

Tunisia-based private equity firm Africinvest has teamed up with Cathay Innovation — the venture sub of Paris-based private equity firm Cathay Capital — to launch a new Africa tech fund with a target raise of $168 million. Details are still forthcoming, but the Cathay Africinvest Innovation Fund will focus primarily on Series A to C-stage investments in African technology companies, says fund co-founder Denis Barrier. “We’ll look at investments across several countries in Africa. We’ll focus on ...
Tags: TC, Asia, Europe, Technology, Money, Finance, Funding, Africa, Tech, Banking, Economy, United States, Aol, Paris, Middle East, Dubai


ShopBack, a cashback startup in Asia Pacific, raises $45M from Rakuten and others

ShopBack, a Singapore-based startup that offers cashback and consumer rewards in Asia Pacific, has closed a $45 million round led by new investors Rakuten Capital and EV Growth. Founded in 2014, the startup had been relatively under-the-radar until late 2017 when it announced a $25 million investment that funded expansion into Australia among other things. Now, it is doubling down with this deal which sees participation from another new backer, EDBI, the corporate investment arm of Singapore’...
Tags: Food, Fundings & Exits, Ecommerce, Asia, Business, Indonesia, Australia, Southeast Asia, Singapore, Funding, Tech, E-commerce, Ceo, Economy, Taiwan, Companies


Metro Seattle starts the year strong in venture funding

The metro area and state performed well, while the national financing picture grew mixed. Plus regional economy notes.
Tags: Business, Technology, News, Economy, Metro Seattle



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