Perhaps it’s more apparent to people who came to Los Angeles a little later in life. I spent years in several cities that, while great places in their own right, are overly concerned about what your parents did and where you went to school. To try something disruptive and new in business is to invite suspicion. To fail is to be stained. The Elon Musks of the world move on, to cities like Los Angeles.
If anything, adventurous entrepreneurism may be increasing in Los Angeles. The tech community, so-called Silicon Beach, has drawn the young and innovative from all over the world in the last few years. As you can see in the article that’s on page 1 of this issue, more investment money has flowed into L.A.’s tech startups so far this year than in the same span in any previous year. Way more money.
Alas, there is a downside. While many businesses get rooted here and grow big (and put their founders on our Wealthiest list), those businesses don’t always stay long. High-cost Los Angeles seems stuck in this cycle of creating businesses that eventually get poached by low-cost Texas. The last part of that cycle is something that Los Angeles and California need to get serious about breaking.
But that’s a topic for another time. What’s important – what’s rare – is that Los Angeles is one of the few places on Earth that beckons restless innovators and adventurous creators. It’s the home of some of the world’s greatest innovators and entrepreneurs.
Charles Crumpley is editor of the Business Journal. He can be reached at firstname.lastname@example.org.
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