Venture capitalists are flying to Los Angeles regularly hunting for innovative ideas at valuations that are a steal compared to Silicon Valley or New York.
“There’s something brewing in Los Angeles. Suddenly, Hollywood has becoming a startup hotbed.
Incubators and accelerators are popping up everywhere. Venture capitalists are becoming frequent fliers at LAX. Celebrities are stamping their names on new companies. And TV industry executives are quitting their jobs to become entrepreneurs.
In many ways, Los Angeles looks like New York City did three years ago. One early-stage investor, Gary Vaynerchuk, thinks LA will eventually trump both New York and San Francisco as the ultimate location for startups…”