You don't know how inspiring this video is for me. Being based in a developing country where I cannot find co founders or people wanting to create new things. Here there's no such a entrepreneur culture. I have to keep motivated and inspired by reading stories and watching these kind of videos. There's this great feeling inside of me now that I know that there are more people starting companies. Thank you so much.
Makes rational sense. From a silicon valley perspective, it could play out one of the two ways. In random order 1) Silicon Valley will continue to attract the absolute best startups (talent really). Considering the successive cycles (software eating the world and then A.I), as well the reality that an overwhelming majority of the innovation that occurs down at the valley can be categorized as true/really innovation. Considering these realities, the verticals will continue to look different, as we've been seeing branching off into areas like energy, space, biotech, fintech e.t.c since the early to mid 2000s. Or 2) The inability to attract quality talent (housing/local and federal governance/transportation/immigration e.t.c related issues) will negatively impede the ability to be able to scale companies across the different verticals. And the other clusters of innovation (outside of the bay area) are going to gain from this reality. Also, it it my uneducated guess (outsiders perspective) that this isn't 'just' a housing issue. Also, if the average rent is 3 to 5k, then a startup can only afford to hire so many engineers. There is a trickle down effect and the whole housing thing, it seems, will act as a barrier against the various startups and their ability/inability to be able to scale. Because, well, affordability index. Toronto (core) is also getting super costly. I read somewhere, that historically and going back to the 50's and the 60's, the income to housing affordability ratio used to be 1:1. Meaning, if someone was making 5k per year, then a 3-bedroom house would generally cost 5k. Today, I believe, the ratio is 1:5 to 1:6 (or higher, or much much higher) in areas like Toronto (much higher in parts of) and probably a lot higher around the Bay Area (same). Historically speaking, Silicon Valley has attracted the best and the brightest from all over the world. This probably started around the time of Fred Terman and continued on till this day. The question is, will this trend continue, in light of what I will categorize as an assumption that I am making, that the municipal code appears to be broken. Last, but not the least, again, as an outside observer, inability to be able to afford housing, as well as the political climate, are, imh(uneducated)o the two factors that may result into a reality that may lead founders (who are not native to the Bay Area) to think a lot of times before they decide to immigrate to the region. Historically speaking, effective immigration has played a pivotal role in raising the quality of life/standards and leading to California being the 5th largest economy in the world. The number of Fortune 500 companies founded by 1st and 2nd generation Americans, sits close to 50%, I think. For Silicon Valley, I think the number of successful companies founded by 1st generation immigrants stood around the early to mid 30% range (2015 stats and I cannot dig up the source at this point). Affordable housing, I think, is one of the main challenges that needs to be tackled in order to keep the engines going in and around the Bay Area. Very open to criticism/feedback. After all, this is an outsider's perspective.
Thank you Eric! I just have learned the story of Pebble and it's ongoing legacy, as it is what Boosted Boards is currently going through. Very interesting times, and I am aiming to be surfing on the waves rather than caught on the shore when it breaks.
Very informative video, thanks! Any chance you could make a video sometime about the process of moving your company from Canada to the US? I'm debating moving our startup there from BC.
Great insights, no doubt silicon valley is the best place to be if you are a tech company. But hey, everything is a risk after all even if it is an inexpensive choice :)
pros: Density of great founders = more drive to do well + practical utility cons: extremely expensive (hard for early stage startup) Move here if early customers are here. Otherwise no easy answer
Although this video lists many good factors to consider one way or the other, the bottom line is the best coffee in the world is 10 minutes from my place and so my business is staying put. Priorities.
He got into YC, so it was easy to move there. Apply for YC :) If you just want to move you startup to bay area, just get a location (shared space office desk) in bay area (Santa Clara or w/e is cheaper) and register a US LLC, it's not hard and very cheap. What's the point thou If you get into YC or 500 startups with all the connections it brings sure go ahead. If you are a bootstrapping SV will just take all the money you can spend building you start up and some smart guy will tell you to "just go work for another startup". I suggest attending some events in the valley, to get a feel for that place. Startup Grind or some Techrunch Disrupt. Feature you start up there. Attend meetups, feel it out. If you think it will help you, move. But you kinda have to put in the effort...
Paul graham if you are reading this i just want to let you know that there are many people(Startups) here in india who want to get in to YC Thank you for Inspiring many people around the world Love from india:)
Eric Migicovsky hi not disputing that but if you visit Boston it’s the densest place for biotech in the US. Many VC firms only invest in companies within Kendall square (~80%) so it’s just a fact but hopefully changes over next few years
You don't know how inspiring this video is for me. Being based in a developing country where I cannot find co founders or people wanting to create new things. Here there's no such a entrepreneur culture. I have to keep motivated and inspired by reading stories and watching these kind of videos. There's this great feeling inside of me now that I know that there are more people starting companies. Thank you so much.
Really love the content you guys are putting out lately, thanks!
Makes rational sense. From a silicon valley perspective, it could play out one of the two ways. In random order 1) Silicon Valley will continue to attract the absolute best startups (talent really). Considering the successive cycles (software eating the world and then A.I), as well the reality that an overwhelming majority of the innovation that occurs down at the valley can be categorized as true/really innovation. Considering these realities, the verticals will continue to look different, as we've been seeing branching off into areas like energy, space, biotech, fintech e.t.c since the early to mid 2000s. Or 2) The inability to attract quality talent (housing/local and federal governance/transportation/immigration e.t.c related issues) will negatively impede the ability to be able to scale companies across the different verticals. And the other clusters of innovation (outside of the bay area) are going to gain from this reality. Also, it it my uneducated guess (outsiders perspective) that this isn't 'just' a housing issue.
Also, if the average rent is 3 to 5k, then a startup can only afford to hire so many engineers. There is a trickle down effect and the whole housing thing, it seems, will act as a barrier against the various startups and their ability/inability to be able to scale. Because, well, affordability index. Toronto (core) is also getting super costly. I read somewhere, that historically and going back to the 50's and the 60's, the income to housing affordability ratio used to be 1:1. Meaning, if someone was making 5k per year, then a 3-bedroom house would generally cost 5k. Today, I believe, the ratio is 1:5 to 1:6 (or higher, or much much higher) in areas like Toronto (much higher in parts of) and probably a lot higher around the Bay Area (same).
Historically speaking, Silicon Valley has attracted the best and the brightest from all over the world. This probably started around the time of Fred Terman and continued on till this day. The question is, will this trend continue, in light of what I will categorize as an assumption that I am making, that the municipal code appears to be broken.
Last, but not the least, again, as an outside observer, inability to be able to afford housing, as well as the political climate, are, imh(uneducated)o the two factors that may result into a reality that may lead founders (who are not native to the Bay Area) to think a lot of times before they decide to immigrate to the region. Historically speaking, effective immigration has played a pivotal role in raising the quality of life/standards and leading to California being the 5th largest economy in the world. The number of Fortune 500 companies founded by 1st and 2nd generation Americans, sits close to 50%, I think. For Silicon Valley, I think the number of successful companies founded by 1st generation immigrants stood around the early to mid 30% range (2015 stats and I cannot dig up the source at this point).
Affordable housing, I think, is one of the main challenges that needs to be tackled in order to keep the engines going in and around the Bay Area.
Very open to criticism/feedback. After all, this is an outsider's perspective.
Thanks, Eric and YC team!
The most perfectly-timed video ever. Thanks.
Thank you Eric! I just have learned the story of Pebble and it's ongoing legacy, as it is what Boosted Boards is currently going through. Very interesting times, and I am aiming to be surfing on the waves rather than caught on the shore when it breaks.
One of my favourite videos!
Very informative video, thanks! Any chance you could make a video sometime about the process of moving your company from Canada to the US? I'm debating moving our startup there from BC.
Thanks.
Have you folks at YC considered remote VC's or rep's who're local to other startup communities like Israel, NYC, Peru, Waterloo, or Boston?
Great insights, no doubt silicon valley is the best place to be if you are a tech company. But hey, everything is a risk after all even if it is an inexpensive choice :)
sad I havent had a chance to buy a pebble and try programming on it. I hope something would came out again where devs can do apps on it
pros: Density of great founders = more drive to do well + practical utility
cons: extremely expensive (hard for early stage startup)
Move here if early customers are here. Otherwise no easy answer
Although this video lists many good factors to consider one way or the other, the bottom line is the best coffee in the world is 10 minutes from my place and so my business is staying put. Priorities.
Great insights! How easy was it to move from Canada to the USA for your startup? I would love to move mine there but I have no idea how!
He got into YC, so it was easy to move there. Apply for YC :) If you just want to move you startup to bay area, just get a location (shared space office desk) in bay area (Santa Clara or w/e is cheaper) and register a US LLC, it's not hard and very cheap. What's the point thou If you get into YC or 500 startups with all the connections it brings sure go ahead. If you are a bootstrapping SV will just take all the money you can spend building you start up and some smart guy will tell you to "just go work for another startup". I suggest attending some events in the valley, to get a feel for that place. Startup Grind or some Techrunch Disrupt. Feature you start up there. Attend meetups, feel it out. If you think it will help you, move. But you kinda have to put in the effort...
Paul graham if you are reading this i just want to let you know that there are many people(Startups) here in india who want to get in to YC
Thank you for Inspiring many people around the world
Love from india:)
He left YC like 5 years ago
@@johnpathadan he is the one who started such initiative
YC has done some interviews in India. blog.ycombinator.com/yc-interviews-in-india/
I guess in the COVID and post-COVID times it especially makes sense to stay where you are.
Thank you for convincing me to stay where I am.
Sadly isn’t really a good place for biotech :/ all the good VCs are in Boston now
YC has invested in >150 bio tech startups in the last few years.
Eric Migicovsky hi not disputing that but if you visit Boston it’s the densest place for biotech in the US. Many VC firms only invest in companies within Kendall square (~80%) so it’s just a fact but hopefully changes over next few years
The answer is no for me lol, but still want to visit.
Don't Worry too much. about going to Silicon Valley ,The Spirit of Silicon Valley( create,innovate,build cool stuff) is all within us!💛
.......never do you hear comments on why California is one of the worst states in the US to run a business and why so many companies keep leaving....
Where exactly is silicon Valley?
then you overwork your employees as you felt you need to move faster
Why are you bouncing?