Explaining Southern California's economy

DeBord Report on 'America Now with Andy Dean,' May 11 edition

Listen in to my weekly business and economy report on "America Now with Andy Dean." Last Friday, Andy was kind enough to introduce me as the business-lovin' liberal, which he figures is a paradox, an oxymoron, an enigma wrapped in a riddle. All very good, as I felt like an riddle-wrapped-enigma on Friday afternoon. 

Much talk of Facebook, of course, as the IPO and a big tax payout for the budget-challenged state of California looms (it's this week, May 18). But also a revisitation of the wild life of Eduardo Saverin, the jilted Facebook co-founder who is now living large in Asia and, much to Andy's dismay, giving up his American citizenship so he can collect more of his nearly $4-billion payout from the Facebook offering.

But we also discussed President Obama's boffo, $15-million Hollywood fundraiser last Thursday, at the house of George Clooney, and we did a little run-through of what the Next Big Tech Startup could be. My personal favorite is Quora, but we also talked about Square, which is one of Twitter co-founder Jack Dorsey's companies. It's a potentially big player in the mobile-payments space. You use, for example, the iPhone app and get a small, square (naturally) card-reader that plugs into the audio jack of an iPhone. Valuation: $1 billion.

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