It’s a good point about tech in general but not particular regions. Regions have died as tech hubs before after a few cycles of ups and downs. It happened to NY, it happened to Detroit.
Housing undersupply and financial oversupply are 2 structural indicators.
Definitely could be right, but I thought his point was extending to what's possible to build as much as the region its built in. I think some people confuse their personal jadedness level with opportunity. Don't disagree at all that the region is at risk!
I’m definitely a bit jaded, but also aware of it and compensating for it. But I’ve been through 2-3 cycles of both personal jadedness and business ups/downs. This feels different from those.
It takes time to invest, and finding the same return rate for a larger pile of $ over the same horizon takes longer. So larger deals are oversubscribed and smaller ones get starved.
Think “smart money”. If a single VC is deploying 1B instead of 100mm, each $ is 1/10th as smart