Hi-tech startups are increasingly setting up shop in cities like San Francisco instead of mighty Silicon Valley, according to urban expert Richard Florida’s latest report “Startup City: The Urban Shift in Venture Capital and High Technology.” Greater access to talent pools and a more creative and diverse environment open to innovation are some of the reasons for this shift.
Tech giants like Twitter, Pinterest and Zynga all call the City of San Francisco home, while other cities like New York, Boston and Austin are gaining relevance as tech destinations.
And proof is in the numbers, says Florida, now that San Francisco is attracting more venture capital investment than Silicon Valley.
But Silicon Valley tech reporter, Cromwell Schubarth, begs to differ and says that Silicon Valley is still as relevant as ever.
Fusion caught up with Richard Florida at The Atlantic’s Start-Up City: Miami event in March.