This post was inspired by a discussion on Facebook where I started a comment with this: in 2012+, why does it matter where anyone’s located anymore?
It used to be that startups had to chase the money/investors and, because travel was usually expensive, they had to look in their backyard or move elsewhere. These days, that balance has shifted: cross-country flights can be obtained for <$500 roundtrip and capital is following the talent, regardless of location. In the case of 500 Startups, we’re deploying everywhere – domestic and international – and you’re going to see even more investors like us over the next 3-5 years.
So, here’s a thought for the founders out there: focus on building the best business you can – regardless of where you’re located. The money will find you, I can promise you of that.
Founders *shouldn’t* be wasting time consciously trying to make their city better – they should focus on building fantastic businesses that will attract other founders to do the same. After all, hackers attract hackers.
Leave the city/regional stuff to investors and politicians – not because they’re better at building community but because they’ll be *forced* to figure it out when the smartest founders start threatening to leave (or when savvy investors try to lure the best startups away).