California

Oakland Establishes Public Bank to Invest Money in Local Community

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OAKLAND, CA (October 8, 2018) - Oakland will establish the first city-owned public bank in the United States, with ownership shared by Oakland, Richmond, Berkeley and Alameda County. Local residents’ distaste for corruption on Wall Street inspired this initiative, to avoid spending millions on debt servicing and transaction fees at big banks and reinvest money into the community.

The Bank of North Dakota is the only other public bank in the US and has proved to be a success thus far, earning $136 million for the state last year in its thirteenth consecutive year of profits. $30 to 50 million of these profits fund education, infrastructure projects and disaster relief programs each year.

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Stanford University Tops List of Most Venture Capital-Backed Startups

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STANFORD, CA (September 27, 2018) - Stanford University topped the list of universities with the most venture capital-backed startups in 2018, according to a new report by PitchBook. The University of California - Berkeley, Massachusetts Institute of Technology and Harvard University followed in this category.

Stanford’s 1.178 entrepreneurs raised $28.8 billion in funding over the last ten years.

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Entrepreneurship Program Launches to Support Latino Business Owners

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SAN BERNARDINO COUNTY, CA (February 14, 2018) - The Mexican and Guatemalan consulates in California partnered to create an eight-week entrepreneurship program for Latino entrepreneurs in California.

“We’re told that we are a burden to this country,” said Guatemalan Consul Billy Munoz. “But on the contrary, Latinos are a huge help to the economy. And we are hungry to contribute to our adopted homeland that is the U.S.”

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