Venture capital funding for startups in Los Angeles experienced a significant drop of 73% to $6.9 billion in 2023 compared to the peak in 2021. The decline is attributed to a funding boom in AI benefiting the Bay Area, with SF Bay Area hosting 141 AI events in May, surpassing other major tech cities like NY, LA, Seattle, Boston, Austin, and Miami.
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A sharp falloff in venture capital funding highlights the challenges L.A. has faced in trying to retain its perch as a major tech hub and how the city has fallen short of lofty goals to promote itself as an alternative to Silicon Valley and New York. https://t.co/hqqDKKtc4w
A look at challenges LA faces as it tries to remain a major tech hub; CB Insights: VC funding of startups in LA totaled $6.9B in 2023, down 73% from 2021 (Los Angeles Times) https://t.co/Z1qt12fnny 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/aCJ1zHN4n8
NY+LA+Seattle+Boston+Austin+Miami combined don't even compare to SF Bay Area's AI scene. SF Bay Area is hosting 141 IRL AI events this May 2024. No other city (even around the planet) comes close. List includes 6 hackathons (each usually has 200-300 builders). Doesn't…
NY, LA, Seattle, Boston, Austin + Miami combined don't even compare to SF Bay Area's AI scene. SF Bay Area is hosting 141 IRL AI events this month. No other city (around the planet) comes close. List includes 6 hackathons, doesn't include many private events, hacker houses…
NY, LA, Seattle, Boston, Austin + Miami combined don't even compare to SF Bay Area's AI scene. SF Bay Area is hosting 141 IRL AI events this month. No other city comes close. There are 141 In-person AI events in the SF Bay Area in the month of May. List includes 6…
NY, LA, Seattle, Boston, Austin + Miami combined don't even compare to SF Bay Area's AI scene. SF Bay Area is the center of AI. No other city comes close. There are 141 In-person AI events in the SF Bay Area in the month of May. List includes 6 hackathons, doesn't include many…
“There’s no question that AI is having a moment and it’s in the midst of a huge funding boom, which is benefiting the Bay Area at the expense of L.A.,” said Spencer Rascoff, general partner at L.A. based startup studio and venture fund 75 & Sunny. https://t.co/hqqDKKtc4w
Last year, venture capital funding of startups in the greater Los Angeles region plummeted 73% to $6.9 billion compared to 2021, when investment peaked during the height of the pandemic, according to research firm CB Insights. https://t.co/hqqDKKtc4w
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