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Across the world, various economic development organizations, government agencies, and non-profits are putting in admirable and well-intentioned efforts to develop startupecosystems. So, number one is that I needed to be at least engaged enough as an investor to be out there attending gatherings of innovative people.
I have never been more optimistic about the impact that the tech startup community is having on cities in America or about the role that cities outside of San Francisco / Silicon Valley can play in our future. Changes in the StartupEcosystem. And then the world changed. Changes in the Software World & in Venture Capital.
But it’s been hard to argue against this position in the last 10 years, as the country powered ahead, famously producing ground-breaking startups like Waze, which was eventually picked up by Google for more than $1 billion in 2013. At the start of 2020, Israeli startups and technology companies were looking back on a good 2019.
Let me start with the obvious baseline that most people probably know instinctively: Los Angeles is the 3rd largest technology startupecosystem in the US. billion 2013 figure) have been massive financings at Honest Company ($70mm), JustFab ($85mm), ZipRecruiter ($63mm) and lord only knows how much SnapChat has actually accumulated.
Funds from this $5M SAFE at a 20% discount with a $20M cap will be used to set up operational centers in Mexico and Spain, accelerate production capabilities, and scale up sales and marketing. That’s all about to change with the Reduce, Reuse, and Recycle revolution – and it’s making its way into the startupecosystem.
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