Bay Area

“It's probably never been a better time to start a company in the Bay Area if you're a founder.”

“One of the big differences between the financial mindset of New York is and in the Bay Area, New York starts off with, well, you know, this is as big as you possibly can get, and this is what's rational for, you know, what could happen in the Bay Area is still…”

“Well, it's not. I mean, if you think about a 10 or fifteen million dollar fund that's putting out three to 400,000 dollars in fees, especially in certain markets, the Bay Area and New York, it's impossible to live.”

“If you actually spend your time in Salt Lake, in Austin, in Dallas, in Seattle, other markets, and then of course, internationally, whether it's Finland or Australia or other markets, there actually is less noise in those areas relative to the amount of intere…”

“There, you know, there are now two and a half thousand plus seed funds operating in the U.S. With a large focus on being on the Bay Area. What that means is, you know, there are probably too many dollars chasing too few deals Which has driven the cost of both …”

“Yeah, I think it does vary by region, and I think a lot of that is a byproduct of the micro or the ecosystem on the capital side within those regions. So investors within a region really, I think, are setting the price for what may be the norm there, and so we…”

“Less than 20% of the investments that we make are in the Bay Area.”

“I was speaking at TechCrunch Disrupt Conference in Silicon Valley a couple of months ago, and I don't know, there may be a 1015 hundred people in the audience. I said, I want to see a show of hands. How many of you are from the Bay Area? And it was less than f…”

“The biggest thing we've got to change is we have to kind of get out of our own bubble and realize that the entire U.S. Doesn't live in the fifty-mile radius of the Bay Area or in the New York-Boston area. And just understand that for all the great things that …”

“When we all invest so early, the outcomes are completely random, they're completely unknown, and so we have to kind of take a cohort basis. And what you have now is especially in the Bay Area, such a free flow of capital and a loosening of norms around how fun…”

“One is that we have a really strong regional network effect. So this is kind of like an Uber or a Lyft, where, for example, here in the Bay Area, we have a lot of people who love and use the platform, and they tend to camp And stay with us really in called a t…”

“And I think most people are going to stick around. And I think no matter what, the Bay Area will continue to be a tech epicenter.”

“I know that Lambda would not be what it is today if we were doing it all remotely, just random lunches and dinners and meeting up with other founders and investors and people that I really admire was really, really unique.”

“I think Patrick Collison has said something about the idea that in 50 years we'll probably look back at the Bay Area as one of the greatest squanderings of potential wealth that the world has ever known, and I tend to agree.”

“This area is going to only get stronger as a result of the dynamic change that's going through.”

“So literally everywhere in the United States are going to be able to, you know, buy and sell homes through Opendoor except maybe the Bay Area.”

“The Bay Area is just too anomalous from a real estate perspective to invest in.”

“Unorthodox people in unorthodox places can and often do solve big problems because they have unique perspectives, different to those perspectives that are grown in the Bay Area.”

“It's why it's the best place to start companies, but it's a terrible place to scale companies.”

“It's, it is, I mean, when we were starting, and by the way, it's why it's the best place to start companies, but it's a terrible place to scale companies.”

“If you grew up in the Bay Area, and you go to Stanford, and you graduate, and you never thought about starting a company, and there's a very negative signal on you as a founder.”

“Less than 10% of our companies are in the Bay Area.”

“This is a Bay Area, there's a lot of Bay Area hubris and this is one of them. We can't access, they can't access our internet. It's a different world out over there. But man, the power when everyone's aligned.”

“So all I know over these cycles is you buy a house before the next massive IPO wage.”

“The other thing is, this is true in general of hiring in the Bay Area, the loyalty is a lot less high than you would get from hiring in Europe. Because in Europe, people really value a good company and a good job, and it's just not the same thing in New York o…”

“Just the fact that you can have, like, billionaire professors teaching classes of 20 people is something that wouldn't exist anywhere outside of the Bay Area”