VC fund survey of startup shows dramatic jump in virtual first companies
Bay Area shares peaked in 2014 at 75%, reduced to 50% in 2018, latest <1/3rd. A third of companies will choose fully remote post-pandemic. 42% of founders if they'd start today would choose remote first vs 24% would choose the Bay Area.
Not clear to me if this is a sign of weakness or strength in the Bay Area (at least pre-pandemic). Seems like pre-pandemic talent will substitute between Big-Co and startups. If Big-Co stumbles then startups can return to get the talent.
Post-pandemic the question is if remote-first or diaspora reduces the agglomeration effect of the Bay. Unclear