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March 6, 2018 04:41 pm

Silicon Valley Is Over, Says Silicon Valley

An anonymous reader shares a New York Times report: In recent months, a growing number of tech leaders have been flirting with the idea of leaving Silicon Valley. Some cite the exorbitant cost of living in San Francisco and its suburbs, where even a million-dollar salary can feel middle class. Others complain about local criticism of the tech industry and a left-wing echo chamber that stifles opposing views. And yet others feel that better innovation is happening elsewhere. "I'm a little over San Francisco," said Patrick McKenna, the founder of High Ridge Venture Partners who was also on the bus tour. "It's so expensive, it's so congested, and frankly, you also see opportunities in other places." Mr. McKenna, who owns a house in Miami in addition to his home in San Francisco, told me that his travels outside the Bay Area had opened his eyes to a world beyond the tech bubble. "Every single person in San Francisco is talking about the same things, whether it's 'I hate Trump' or 'I'm going to do blockchain and Bitcoin,'" he said. "It's the worst part of the social network." [...] Complaints about Silicon Valley insularity are as old as the Valley itself. Jim Clark, the co-founder of Netscape, famously decamped for Florida during the first dot-com era, complaining about high taxes and expensive real estate. Steve Case, the founder of AOL, has pledged to invest mostly in start-ups outside the Bay Area, saying that "we've probably hit peak Silicon Valley." But even among those who enjoy living in the Bay Area, and can afford to do so comfortably, there's a feeling that success has gone to the tech industry's head. "Some of the engineers in the Valley have the biggest egos known to humankind," Mr. Khanna, the Silicon Valley congressman, said during a round-table discussion with officials in Youngstown.

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