The nation’s CEOs think California is the worst state in the Union to do business. (Texas is the best.)
You can tell that California is terrible for business because all the Fortune 500 companies have left California. Companies like Chevron, H-P, Wells Fargo, Safeway, etc. all have fled California for better business!
State regulations do matter when it comes to setting up businesses, but things like human capital and infrastructure matter more. That’s why start-ups still operate in Silicon Valley, even though regulations are supposedly “crippling.”