A few months back, we did not expect a solid report for fourth quarter venture capital investment in Colorado given the uncertainty created by the left’s War on Capital Formation. But, we did expect to see a nice rebound in 2013, given an early resolution on the tax code, a low interest rate environment, and a mountain of cash on the sidelines.
The state’s 43.8% contraction in VC investment during the quarter placed the region a scant two percentage points above the bottom quartile for the 18 regions that PriceWaterhouseCoopers surveys in its quarterly report.
And who can really blame entrepreneurs and investors who seek more permissive business environments. This theory plays out in practice: by a wide margin, the business-friendly Southeast outpaced all of the other regions in the PwC survey during the first quarter. Texas came in a solid third behind the venture capital-rich New York Metro region.
Further, who could blame VC firms for viewing Colorado as a risky investment? The gun control legislation has proven that Democratic legislators are willing to, ahem, take aim at any industry they find personally distasteful. If one industry is in the crosshairs, all industries are in the crosshairs. This is the Magpul Effect.
As this year’s legislative session draws to a close, the Democrats’ talking points about job creation have turned out to be meaningless platitudes and empty promises, just as we expected. While their hard-left social agenda for the state took center stage, the interests of Colorado middle-class families and businesses were relegated to the cheap seats.
LARRY, it is o-hole's kool-aid I guess.
Don't forget legalization of Marijuana, though it was a voter initiative. Few companies want to become involved in the ramifications.
Make no mistake, this action by our libtard politicians is and will continue to cause a huge backlash against our once great state. These idiots in Denver came from out of state to live in an environment that had not been tarnished by the liberal moronic actions. Now they will suffer the consequences of thier actions….. Unfortunately; so will the rest of us who did not vote for or support these idiots.
Great job hick and your democratic team you should be very proud of yourselves
Where have all the people gone…600,000 people, in the U.S. ran out of unemployment in March and the unemployment rate went down and the left calls that going in the right direction….wonder what they are smoking?
Ah yes, the law of unintended concquences. I love it. Get ready to see your taxes go sky high.
The negative collateral ripple effect can now be attributed to the Democrats and the Governor
Bad actions have bad reactions.
The negative collateral ripple effect I had been mentioning for months now attributed to the Democrats and the Govenor….yet they still refuse to see the truth behind the facts. "Feel good" legislation is as worthless as they are and they ALL need to go away. Who is going to risk VC in a state with a Govenor that is wishy-washy and rolls over to outside (the state and idiotic) financial interests like Bloomberg et al?
What goes around comes around.