The Thursday Lowdown ⬇️

If you're new around here, every day I share the 4-5 best accounting insights I saw in the past 24 hours.

I scroll. so you don't have to.

💎 WTF of the Day

Canopy just raised 70 million to kill accounting busywork

Accounting is drowning in emails, PDFs, and “just checking in” follow ups. Canopy’s trying to burn all that to the ground. They just raised 70 million to make software that handles the crap no one wants to do like chasing documents, billing, reminders, all of that type of stuff

They’ve already got 4,000 firms using their stuff. Now they’re going bigger, faster, and probably buying up smaller tools along the way. Less admin. More actual accounting. That’s the play.

Source: TechBuzz News

💎 What’s poppin in accounting

California updates tax code after 10 years

For ten years, California’s tax code was stuck in the past. While the feds made over a thousand changes, the state just… didn’t. Accountants had to deal with two sets of rules, and everyone else was left confused as hell.

Now they’re cleaning it up. A new bill brings California in line with most of the federal changes since 2015. It’s not perfect, they’re still ignoring some Trump-era stuff, but at least filing taxes in California won’t feel like time travel anymore.

Source: Bloomberg Tax

 📊 Weekly Trend Chart

Chinese ipos are trickling back into the us

A big Chinese tea company called Chagee just went public in the US. Its stock jumped 21 percent on day one, and the company is now worth 6.2 billion dollars. It is the biggest Chinese consumer company to list in the US since 2021, even though the US and China are still arguing over trade and stocks.

More Chinese companies are testing the waters again, but it is not a full comeback. In 2024, there were 37 Chinese IPOs in the US, but they only raised 1.9 billion dollars. That is way down from 10.7 billion four years ago. Big companies are still waiting, while smaller ones are taking the risk.

#😂 

“we’re like a family here” 😂 

P.S. What'd you think of today's edition? Hit 'reply' to this email and lemme hear it!