The Financial Times just ran an article today commenting on Southern California’s increasing presence in the technology world. From Silicon Valley investors discover LA’s star appeal:
After two decades watching their neighbours in Silicon Valley attract more venture capital investment than anywhere else in the US, companies in southern California are making a comeback.
Successive technology booms have made the northern California technology corridor the undisputed leader when it comes to start-up investment.
But a new generation of internet companies specialising in content management, online advertising and search optimisation has established headquarters in Los Angeles, which is acting as a magnet for investors.
The good and bad of all of this attention Southern California has been getting: the good — is there’s a lot more, deserving companies being funded here in Southern California, and it’s much less of a struggle for companies started here to get past the initial hurdle in funding. The bad: the cutthroat, ego-driven, and (frankly) elitist culture of Silicon Valley is threatening to creep into what has been more of a supportive, honest atmosphere for startups and entrepreneurs here. There’s was a recent, relevant post by 37Signals talking about the problems with Silicon Valley thinking and culture, which is worth reading.