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S.F is still not "dying" like the media has been saying lately, NYC and Boston with very healthy numbers, Nashville is the new kid on the block (fantastic numbers btw) and Miami is indeed, not the new Silicon Valley. Definitely looking forward to see Q2 results shortly.
I feel like a broken record because I keep saying it on here BUT the whole media narrative around SF is way overblown. With the amount of capital there, it will be a LONG time before it stops dominating - tech is in a weird place right now but it doesn't change the fact that a large percentage of the most powerful companies in the world are in SF.
Nashville on this list is interesting... since COVID I've been hearing about the CoL going up there in random articles which is interesting because Nashville (or Tennessee in general) is not somewhere you hear much about (other than Amazon opening a small HQ there). Very random.
Who in the world… ever said Miami is the new Silicon Valley
Anyway, SFBA is unsurprisingly light years ahead of everyone.
NYC is unsurprisingly a very distant second.
Boston is unsurprisingly third.
Those 3 have had their place solidified for a while now.
I think Phoenix is the new kid on the block. Not Nashville. Phoenix has been the semiconductor manufacturing capital of the U.S. for a while now. But the chips act and the manufacturing war with China have resulted in massive amounts of startups that cater to semiconductors (Phoenix).
Wild speculation by the crypto mayor himself and the handful of CEO's (all Right Wing) who left SF, NYC and Chicago to move there. There was (and still is) a push to make it the next Silicon Valley, but the hype already faded after two years and there's been a pretty significant cascade effect.
Phoenix, I'm surprised but that's also my own ignorance of not knowing what's going on in the city. So if anyone in the Phoenix area/familiar with the city know what's going on, definitely let me know. I'm highly interested.
The numbers for "San Francisco" are for the entire Bay Area, including San Jose and Santa Clara County, the heart of Silicon Valley. I have no idea what the actual City of San Francisco's share of this number is; but in and of itself, these numbers do not contradict the notion that San Francisco has issues.
Yes. SF has issues but I think we should temper the California is dying talk that floats around here and outside of cd
which is interesting because Nashville (or Tennessee in general) is not somewhere you hear much about (other than Amazon opening a small HQ there). Very random.
We must run in different circles. It’s been the most talked about “up and coming” city over the last decade in my little bubble.
Now, it is a little surprising to see Nashville so high when it comes to VC investment. I wonder if some % of funding that would typically be allocated towards software, is being reallocated to things like advanced manufacturing and supply chain IP. That would help Nashville. I’d also assume a good portion of this VC funding is in the Healthcare space. Nashville is kind of an unsung hero in private Healthcare and Services.
More than anything, though, it probably feels like a safe investment for VC. Nashville is one of the easiest cities to attract and retain talent, with cheaper labor than some major markets.
Phoenix, I'm surprised but that's also my own ignorance of not knowing what's going on in the city. So if anyone in the Phoenix area/familiar with the city know what's going on, definitely let me know. I'm highly interested.
I just said it. Phoenix is the semiconductor manufacturing capital of the Americas. The US is trying to increase production and stop relying on China (the CHIPS act). Phoenix is naturally the biggest beneficiary of that
This is from the Ernst & Young article, giving the reason:
"New York and Boston finished second and third. Los Angeles came in fourth, while Nashville entered the top five on the strength of a solar energy deal and a specialty health care deal that pushed them ahead of Austin."
Nashville catapulting up on this list is not surprising though, in general. Nashville has been on a development boom and steady economic growth trajectory for several years now.
Nashville is continuing as not only one of the top southeastern cities for investment, but also a national major player now too. Good to see!
Nashville on this list is interesting... since COVID I've been hearing about the CoL going up there in random articles which is interesting because Nashville (or Tennessee in general) is not somewhere you hear much about (other than Amazon opening a small HQ there). Very random.
Not random at all, really. Nashville has been on a development boom now for several years, and investment in their economy and region is red hot.
Healthcare investment is big business, and many other sector investments are beginning to follow. Oracle is building a giant campus just outside of downtown, and I'm sure others will follow.
If you used the metric of GDP, the 2021 statistics show these cities to be 5 spots above Nashville's #29 US ranking, and 5 spots below--
#24 St Louis, MO metro : $187,569,544
#25 Portland, OR metro : $186,570,323
#26 Cincinnati, OH metro : $171,737,526
#27 Pittsburgh, PA metro : $168,021,049
#28 Orlando, FL metro : $167,279,974
#29 Nashville, TN metro : $163,031,737
#30 Indianapolis, IN metro : $162,062,985
#31 Sacramento, CA metro : $160,542,566
#32 Columbus, OH metro : $154,509,800
#33 Kansas City, MO metro : $154,328,892
#34 Cleveland, OH metro : $147,637,827
The source is this awesome list of 384 metros, from Visual Capitalist, here (using 2021 data):
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