"As a response to socialism...Austin will replace SF as the tech capital".
Wealth tax proposals ruffled some VC feathers this past week over on X. Lots of debate, some silly and some intellectually engaging. There was even a call for YC to move to Texas.
But cmon folks. Austin is not replacing SF as the tech capital.
(Okay, if your time horizon includes the 2100s, all bets are off. But realistically...no).
Data below is just one stat, but it shows the amount of money invested into Bay Area startups vs Austin startups this past year. Seed + Series A only.
Bay Area: $11.5 billion (38.6% of total)
Austin: $1.2 billion (4.2% of total)
Various different gaps by industry (hey Austin great work in Hardware last year!) but this is not a serious debate.
Love Austin, love that ecosystem, but the Bay is the Bay.
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