Silicon Valley used to get the most startup funds. Now it doesn't. Here's where the real money actually went, per facts.
Silicon Valley got $25 billion of $69 billion total U.S. startup funds in 2021. That's 36%. As of 2023, it had dropped to 33% of U.S. venture funds. In 2024, Bay Area startups got $90 billion of $178 billion. That's 57%. Still high, but other places grew.
Austin got under 2% of U.S. funding in 2023. Miami got under 1% in 2023. New York, Boston, and LA combined got less than Silicon Valley's $25 billion in 2021. Shanghai and Seoul are rising quickly globally, but U.S. data suggests they're not yet getting Silicon Valley's share.
HP and Oracle moved to Texas in 2020. Google spent $2.6 billion in New York in 2018. Big tech like Nvidia and Salesforce are still in the Bay Area, capital remaining there.
San Francisco lost 15,000 people in 2017. Bay Area jobs grew 23% from 1992 through 1999. Jobs were lower in 2005 than in 1995. Venture funds amounted to $149 billion in 2023. Bay Area got $30.9 billion—still the best.
Silicon Valley still gets the most funds. Other U.S. places like Austin and Miami get small shares. Some went to New York and Texas with large transfers. Overseas, the likes of China get more. Yet, the $275 billion economy of the Bay Area maintains its place—for now.
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