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Finance

The Pandemic Stock Market Crash of 2020 Predicted to Worsen

Readers of American financial news might think that the pandemic stock market crash of 2020 happened in March and is over. That’s objectively not true: the pandemic stock market crash is still going on right now, and an analysis of past crashes suggests it’s about to get a lot worse.

A crash is not just a substantial daily or monthly decline. Instead, stock markets have two modes: crash and boom. The market is in a crash from its prior peak until its recovery. And seven out of 12 of America’s last stock market crashes have had at least one faux recovery.

Indices track the market. I use the Dow, but you can use the S&P 500, the Russell 3000, or whatever you like. The Dow’s most recent prior peak, before it suffered substantial declines, was of 29,551 points on February 12th, 2020. It hasn’t sustained that value again yet. Ergo, the U.S. stock markets are in a crash!

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Read the Top U.S. Startup Cities For 2016 Report

The top seven cities in the U.S. for startups in 2016 were San Francisco, New York, Boston, Cambridge, Palo Alto, Austin, and Seattle. These cities each received $2 billion in investment, had 58 new deals, and had 479 active VC-backed startups on average in 2016.

While these well-known startup cities continue to dominate the landscape, startup clusters are forming all over the U.S.  Policymakers in many cities that historically were not associated with high-growth, high-tech firms are now clearing succeeding in cultivating startups, as a strategy to boost their local economies.

 

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Read the Houston Growth vs. Transactional VC Report

Houston’s high-tech ecosystem can only flourish if it attracts more growth venture capital investments, according to the latest McNair Center for Entrepreneurship and Innovation issue brief, “Growth vs. Transactional Venture Capital in Houston, Texas.”

A realistic, but aggressive, goal for Houston would be around a 15 percent year-on-year increase in growth venture capital. This would allow Houston to reach roughly $170 million in growth venture capital by 2022.

According to the report, “Houston would then likely become a top 25 U.S. city for high-growth, high-technology startups, though its ecosystem would still be emerging and startups would remain a very small part of Houston’s economy.”

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Read the Houston Entrepreneurship Pipeline Report

This paper examines the startup training institutions in Houston, Texas, and what they are doing to open up the city’s pipeline of startup firms.

Recent academic research has shown that startup training institutions can have an enormous positive effect on an ecosystem’s growth. A good ecosystem pipeline turns out a large quantity of high-quality startup firms that have received top-tier training. Houston’s accelerators and incubators do not perform at the levels of benchmark institutions. The quality of deal flow coming from its accelerators, incubators, and hubs will be crucial to Houston’s future.

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McNair Center

Welcome to the McNair Center

The McNair Center for Entrepreneurship and Innovation at Rice University’s Baker Institute for Public Policy was founded in 2015 with an $8 million gift from the Robert and Janice McNair Foundation. Dr. Edward J. Egan was chosen as the founding director. He designed the center to provide policymakers, scholars, and the general public with comprehensive analyses of the issues that affect entrepreneurship and innovation at three levels: federal and state policy, municipal ecosystems, and academic entrepreneurship and innovation.

The Center’s foci were naturally on the U.S., Texas, Houston, and Rice University, but it also drew and shared insights from the best practices and policies worldwide. Its philosophy was to combine grounded theory and data-driven causal design to produce peer-reviewed research that stands up to scrutiny. To this end, the center collected and disseminated data, provided open access to informational resources, collaborated with leading academic experts, built understanding, and recommended policy to harness the incredible power of entrepreneurship and innovation.

By 2018, the McNair Center had provided more than 70 undergraduate and graduate students with internships to develop policy research, had a staff of four, and was the largest social science research laboratory on the Rice University Campus. It received offers of an additional $6.2m in funding to hire three more fellows and two more staff members and to roll out its nationwide research affiliate program.

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Visit the McNair Center’s website