LA will never be Silicon Valley and we don’t want it to be” said David Carter, co-founder of Amplify. In Los Angeles, “You don’t raise money on an idea, you raise money on traction and revenue.
From Josh Constine, TechCrunch:
“When asked what is the biggest difference between Los Angeles and Silicon Valley accelerators, five from LA told me they’re more focused on startups that don’t take years to start monetizing. Leaders from Amplify, Launchpad LA, MuckerLab, Start Engine, and Originate Labs convened at this weekend’s Silicon Beach Festival in Venice, California. They explained that since there’s less capital down South, they’re less concentrated on long-term plays, even ones that could return bigger multiples down the line.
So Bay Area startups in ecommerce, media, advertising, and fashion looking to raise money or enter an accelerator might consider a drive down the Pacific Coast Highway.
“LA will never be Silicon Valley and we don’t want it to be” said David Carter, co-founder of Amplify. In Los Angeles, “You don’t raise money on an idea, you raise money on traction and revenue” MuckerLab‘s co-founder David Hsu told me. “If you tell me you’re going to build apps for homeless bums I’m gonna say ‘hrrrmmm’” in a sigh of disapproval. Bold, unproven models that need lots of employees and long periods of time in stealth remain Silicon Valley’s expertise said Howard Marks, co-founder of StartEngine…”
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