The phrase makes for a good book title, but it is not the current reality of US venture investment.
Data CB Insights shows venture investment in Q3’22 by geography (followed by YoY comparison):
Silicon Valley: $10.7B (-61%)
New York City: $4.8B (-65%)
LA: $3.4B (-41%)
Boston: $3.2B (-53%)
Seattle: $2.0B (+32%)
Miami: $1.3B (-15%)
DC: $1.2B (+4%)
Chicago: $0.7B (-51%)
Dallas: $0.6B (+70%)
Denver: $0.6B (-16%)
Philadelphia: $0.6B (-64%)
Austin: $0.5B (-60%)
Raleigh: $0.3B (-58%)
Atlanta: $0.3B (-68%)
+ Companies based in Silicon Valley grabbed nearly 30% of all US funding, more than doubling runner-up NYC’s total.
