workin' hard

Texas punches in as one of the hardest-working states in U.S., says study

Texans know hard work, a study shows. Photo by Tom Werner/Getty Images

Hey, Texas. Kick up your feet and give yourselves a pat on the back. You deserve it. The Lone Star State has been named one of the hardest-working states in the country.

In a study released August 31 just ahead of Labor Day, personal finance website WalletHub ranks Texas fourth on its list of the hardest-working states, behind North Dakota at No. 1, Alaska at No. 2, and Wyoming at No. 3. In last place: West Virginia.

Texas held the No. 4 spot in WalletHub's 2019 rankings, too.

For the study, WalletHub compares the 50 states across 10 key indicators. Those factors include average hours worked per week, share of workers with more than one job, and volunteer hours logged per person. Texas clocks in at No. 4 this year for the highest average number of hours put in during the workweek — its best ranking among the 10 key indicators.

The study of hardest-working states comes as a new WalletHub survey shows about one-third of Americans are worried about job security.

"Women are less likely than men to be concerned about job security, even though recent data shows that women are losing their jobs at a greater rate than men during the COVID-19 pandemic," WalletHub analyst Jill Gonzalez says.

The survey also finds that about half of Americans say they've worked harder since the coronavirus pandemic began.

"Middle-class Americans were the most likely to say they have worked harder, followed by high-income and then low-income Americans," Gonzalez says.

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This article originally ran on CultureMap.

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Building Houston

 
 

Cloudbreak Enterprises is getting in on the ground level with software startups — quickly helping them take an idea to market. Photo via Getty Images

Lauren Bahorich is in the business of supporting businesses. In February 2020, she launched Cloudbreak Enterprises — B-to-B SaaS-focused, early-stage venture studio — with plans to onboard, invest in, and support around three new scalable companies a year. And, despite launching right ahead of a global pandemic, that's exactly what she did.

Bahorich, who previously worked at Golden Section Ventures, wanted to branch off on her own to create a venture studio to get in on the ground level of startups — to be a co-founder to entrepreneurs and provide a slew of in-house resources and support from development and sales to marketing and administration.

"We start at zero with just an idea, and we partner with out co-founders to build the idea they have and the domain expertise and the industry connections to take that idea and built a product and a company," Bahorich says.

Bahorich adds that there aren't a lot of venture studios in the United States — especially in Houston. While people might be more familiar with the incubator or accelerator-style of support for startups, the venture studio set up is much more intimate.

"We truly see ourselves as co-founders, so our deals are structured with co-founder equity," Bahorich says, explaining that Cloudbreak is closer to a zero-stage venture capital fund than to any incubator. "We are equally as incentivized as our co-founders to de-risk this riskiest stage of startups because we are so heavily invested and involved with our companies."

Cloudbreak now has three portfolio companies, and is looking to onboard another three more throughout the rest of the year. Bahorich runs a team of 15 professionals, all focused on supporting the portfolio. While creating the studio amid the chaos of 2020 wasn't the plan, there were some silver linings including being able to start with part-time developers and transition them to full-time employees as the companies grew.

"Within the first month, we were in shutdown here in Houston," Bahorich says. "But it's been a great opportunity for us. Where a lot of companies were pivoting and reassessing, we were actually able to grow because we were just starting at zero ourselves."

Cloudbreak's inaugural companies are in various stages and industries, but the first company to be onboarded a year ago — Relay Construction Solutions, a bid leveling software for the construction industry — joined the venture studio as just an idea and is already close to first revenue and potentially new investors. Cloudgate is also creating a commercial real estate data management software and an offshore logistics platform. All three fall into a SaaS sweet spot that Bahorich hopes to continue to grow.

"We are looking to replace legacy workflows that are still performed in Excel or by email or phone," Bahorich says. "It's amazing how many opportunities there are that fit into that bucket — these high-dollar, error-prone workflows that are still done like it's 1985."

Given the hands-on support, Bahorich assumed she'd attract mostly first-time entrepreneurs who don't have experience with all the steps needed to launch the business. However, she says she's gotten interest from serial entrepreneurs who recognized how valuable the in-house support can be for expediting the early-stage startup process.

"What I'm realizing is a selling point is our in-house expertise. These founders are looking for technical co-founders," Bahorich says. "We can both provide that role and be capital partners."

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