Scott Kirsner had an article in the Globe this weekend rekindling the East vs. West coast meme for early-stage startups; especially consumer-focused ones.
Nabeel Hyatt posted a great rant on the issue. I particularly like his comparison of east/west coast early-stage fundraising to the state of the world in the financial industry:
But the fact that it is harder [on the east coast] is nothing new. That’s like saying, “the financial industry in Boston is still not as big as New York’s.” That’s not news, that’s reality.
That’s spot on stuff, but I’m concerned that that attitude also limits where we on the right coast can take things to. The divide between left-coast and right-coast ventures is hardly as huge as the divide (and century of entrenchment) that splits NY and Boston in the financial industry. The General started here, folks.
Too often, I think that folks (yours truly included) fall prey to too simplistic a view of the situation. This is a very complicated system dynamics problem with a ton of moving parts. There are a lot of feedback loops in the entrepreneurial ecosystem, and the left coast does these loops better than the right coast. Period. End of story. The right coast needs to learn better and faster; adapt the good; flush the silly; and get better at what we all do.
I could drone on on this for days, and very much would like to, but I have a company to run 🙂 . More in due time, I hope!