Ah techno triumphalism at its finest. The recession will end, someday. California will still be a nice place to live relative to most other places in the US. Will it return to its former burnished glory is the question? I think yes, but only relatively. Other places will just be worse off.

My reasons are fairly simple, resource exhaustion, govt regulation and plain old over population. Californians have used up a prodigious amount of our natural wealth, arable land, oil etc in the last century. As the conservatives here like to point out (meandandale particularly) the govts business unfriendly policies will contribute to lots of companies moving lower wage, lower skill jobs to other states/countries. You can’t have an economy that is successfull only with IT/Biotech at the top and food production at teh bottom, talk about social strife sheesh. Lastly two many people period. Whether its by controlling immigration, incentivizing people to have less children or both, the way for all of us to have a higher standard of living is for there to be less of us. Infinite desire in a finite world is always a recipe for collapse.
Josh