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Keller: Why has investment dried up for tech companies in Massachusetts?

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Keller: Why has investment dried up for tech companies in Massachusetts?


The opinions expressed below are Jon Keller’s, not those of WBZ, CBS News or Paramount Global.

These are tough times for venture capital, the funding source relied on by many tech startup companies. And one of the biggest slumps has hit one of the best startup states of past years – Massachusetts.

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The state’s promotional videos tout Massachusetts as “a leader in energy efficiency, science and technology, and our economy is the most innovative in the nation.” All that used to make us one of the top draws for venture capital investment in new companies.

But not anymore.

Why is venture capital shrinking in Massachusetts?

Recent research by the National Venture Capital Association analyzed by the Boston Globe tells the story of VC funding shriveling for local startups even as it blossoms in other states like California.

What’s driving it away from here, we asked Peter Cohan of Babson College, an author and startup investor himself? “The success of the companies out there,” he said, the bulk of the venture capital investments these days are going to AI startups out west in part because while the big-idea creators might go to college here, they too often don’t want to stay here. “Talented people want to be where all the other talented people are, that’s the fundamental issue.”

And the bets government and local investors have made on biotech and clean energy technology haven’t always paid off that well. “In Boston, I think investors really like high-tech solutions to difficult societal problems,” said Cohan. “Sometimes those solutions also find a market, and sometimes they really don’t.”

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Federal cuts in local research funding are bad news for local startups, a problem that can’t be papered over with cultural spin. While those promotional videos promote arts, culture and cool coffeehouses, that doesn’t speak to the core issue, says Cohan: “It’s nonsense. That’s sleeping, they’re just dozing away, they’ve got their head in the sand.”

How does Massachusetts recover?

Meanwhile, states like Pennsylvania, Washington and California are raking in venture capital funding. What do we need to do to get back in the game?

As Cohan suggests, an end to the war between the White House and higher ed would help. Quantum computing and nuclear fusion are two promising areas where local researchers have a strong presence.

But in the long run it may come down to those researchers coming up with a great idea and deciding to stay here to develop and market it.

Maybe we need a new slogan to get through to them – don’t be a Zuckerberg.

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Snow, ice, rain to impact roads in Massachusetts – Boston News, Weather, Sports | WHDH 7News

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Snow, ice, rain to impact roads in Massachusetts – Boston News, Weather, Sports | WHDH 7News


Happy Tuesday! While today started off dry, we’re already looking at snow out there across the area. While this event will primarily stay as rain on the Cape and islands, it will be an icy mix of snow, ice and rain for the rest of us.

The rain/snow line will continue to advance from the south to the north as the evening progresses. Before the changeover, there will be a quick coating to 2 inches for most of our area.

The threshold between the snow and rain will feature sleet and freezing rain, leading to that icing.

For the rest of the night, there will primarily be rain with continued pockets of freezing rain, leading to increasing spotty ice accretion. Be extremely careful on roads, especially since switching between rain and freezing rain can wash off any road salt.

The rain and freezing rain will exit by 6 a.m. Wednesday, but temperatures will still be close to freezing during the morning commute, so watch out for some spotty black ice.

The rest of Wednesday will be really nice! Highs will warm up to the mid 50s with the help of ample sun.

Thursday we start off in the mid 20s and top off in the mid 40s. We’ll be partly sunny with another chance for some wintry weather Thursday night. This primarily looks like some rain and freezing rain, rather than the triple threat with snow too. We’ll keep an eye on that for you.

That will continue into Friday morning. The rest of Friday: cloudy with a chance for a spot shower and highs cooler again in the upper 30s. Saturday will be dry, breezy and cloudy but gorgeous near 50 degrees! There’s a chance for some rain showers Saturday night. Don’t forget to set your clocks forward an hour before you to go bed!

Sunday we start the day mild in the 40s and make it all the way into the upper 50s with more sun. Monday and Tuesday both look bright and in the 60s! Stay tuned.

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Massachusetts man awaits word from family in Iran after attacks

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Massachusetts man awaits word from family in Iran after attacks




Massachusetts man awaits word from family in Iran after attacks – CBS Boston

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Poya Sohrabi hasn’t heard from his family since they took shelter from attacks in Tehran. WBZ-TV’s Mike Sullivan reports.

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How will the Iran war impact gas prices in Massachusetts?

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How will the Iran war impact gas prices in Massachusetts?


With a widening conflict in the Middle East after the American and Israeli attack on Iran Saturday, global markets are bracing for a shakeup in the energy supply chain.

So, here at home, what can consumers expect at the gas pump?

An increase in oil prices is almost always followed by an increase in gas prices. And the oil market has already reacted to the war. NBC News reported on Sunday that U.S. crude oil initially spiked more than 10%, while Brent, the international oil benchmark, rose as much as 13%.

Early Monday morning, reports were coming in of black smoke rising from the U.S. embassy in Kuwait City.

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While Iran’s oil reserves supply less than an estimated 5% of global production, the main concern is the Strait of Hormuz. This maritime passageway borders Iran at the bottleneck of the Persian Gulf, and more than 20% of the world’s oil passes through. If Iran closes or restricts Hormuz, the oil market could face severe disruptions.

Gas prices rise about 2.5 cents for every dollar increase in crude oil prices. As of Sunday, U.S. crude oil prices had already increased by nearly $5 a barrel.

“I fully expect that by Monday night, you could credibly say that gas prices are being impacted by oil prices having gone up,” GasBuddy analyst Patrick De Haan told NBC News.

GasBuddy characterizes their expectations for price increases as “incremental” rather than “explosive”. The group said to anticipate a potential 10-15 cent increase over the next couple of weeks.

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