It helped, but not any more Kumar
Founders can pick any location & win big
San Francisco has collapsed into chaos under @LondonBreed & @chesaboudin
Investors in Bay Area still have slight edge—but during pandemic that edge is negated
Future is wide open https://twitter.com/datarade/status/1307762673006845955 …
1/Young folks don't aspire to come to San Francisco and overpay for an apartment anymore... 2/those young folks can work for a great company remote now. only 5-10% of gigs were remote, now it's 100%, and post-pandemic it will be 50-75% I predict 3/investors now invest remote
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you put those three things together, I think it means you can build a business in Austin, Reno, Miami, Colorado, Utah, LA, Toronto, and get taken as seriously by investors as those folks in the Bay Area. that's the change... and it's real.
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You always could do that and there are many example. Look at Shopify, Domo and Qualtrics. There is a lot of generalizing as if this is a binary choice. However I strongly think that starting a tech company in the Bay Area you still will still have a massive advantage.
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1. Driven people (like I was and did) will do anything to increase their odds of success like split a $5k house 5 ways. 2. Who will get the raise/promotion/better mentoring? In-person or remote? This is only applicable to specific jobs but 100% it is not.
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3. Yes angel/seed investing will change forever. But as a series A or B investor isn’t it a plus to invest in a company that can pull from the bay area network of talent.
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