By Free Republic | Created at 2024-09-29 03:22:46 | Updated at 2024-09-30 09:40:34
1 day ago
San Francisco is still the startup capital of the world
Sherwood | 09/25/2024 | William Coulman
Posted on 09/28/2024 8:00:26 PM PDT by SeekAndFind
In the same way that aspiring actors head to Hollywood to make it as a star (which now might be harder than ever), San Francisco — and its surrounding suburbs and towns — has long been the mass at the center of the startup universe, with founders flocking to the city, hoping to absorb the magic they’ll need to turn their company into a household name.
During COVID, as remote work spread across the country, there were a number of threats to its dominance. Austin and Miami pulled fledgling companies to their streets and some predicted San Francisco’s downfall as the tech hub. But, despite competitors at home and abroad, SF remains the largest hotspot for venture capital activity.
Indeed, according to PitchBook’s latest Global VC Ecosystem Rankings, in the six years leading up to Q2 2024, a massive $430 billion in venture funding flowed into SF-based startups — more than double the amount raised in New York, which was second. By comparison, Beijing attracted just over a third of San Francisco’s total deal flow.
On a global scale, the US leads with a total deal value of $1.2 trillion, more than double China’s $545 billion and substantially ahead of the UK’s $144 billion figure. And, with $300 billion worth of “dry powder” in the VC ecosystem, there's plenty of cash waiting to fuel the next generation of unicorns. Much of it is in San Francisco, and much of it is likely to end up in the bank accounts of AI startups, which have come to dominate the space... and led to some truly outlandish valuations.
TOPICS: Business/Economy; Computers/Internet; Society
KEYWORDS: sanfrancisco; startups
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1 posted on 09/28/2024 8:00:26 PM PDT by SeekAndFind
To: SeekAndFind
A lot of startups are virtual. They’re located on the internet, and in the mind(s) of their founders(s).
But dream on, San Francisco.
2 posted on 09/28/2024 8:02:18 PM PDT by Steely Tom ([Voter Fraud] == [Civil War])
To: SeekAndFind
Uh, Sand Hill road in Menlo Park.
SF is merely nearby.
3 posted on 09/28/2024 8:05:17 PM PDT by Regulator (It's fraud, Jim)
To: SeekAndFind
Pack, Start Up the Camper and LEAVE, more like. And don't look back. A website that tells travelers where the piles of human pooh are greatest and thus areas to avoid, that and the endless supply of schizo street freaks and naked butt “males” with leather chaps on. All nearly impossible to quick explain to one's children.
A beautiful former city ruined by deliberate mindless “acceptance” of insane behaviour, the very dumbing down of society as eloquently described years ago by Patrick Moynahan. Very different democrats then. Maybe the place can be saved but it will take generations and money not taken out of the place. Start with the permanent homeless.
4 posted on 09/28/2024 8:20:03 PM PDT by John S Mosby (Sic Semper Tyrannis)
To: Regulator
Exactly. Menlo Park to San Jose. There’s some startup activity in the city, but it’s always centered on Silicon Valley (the name persists even though there isn’t much silicon there any more).
5 posted on 09/28/2024 8:20:49 PM PDT by ProtectOurFreedom (May the soy boys, feminazis, and alphabet weirdos choke on the toxic fumes of our masculinity)
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