After three decades in Silicon Valley, billionaire Jim Breyer chose Austin for the next era of his venture capital/venture philanthropy work, and cites “early, but compelling, signals that Austin is emerging as the next great tech hub.”
While Silicon Valley’s critics “make some fair points about rising living costs and government overreach,” he argues that Austin’s advantages are being overlooked — and they go beyond just the University of Texas:
Austin, more than any other city in the country, encourages a culture of interdisciplinary collaboration. Because the city has catered to so many types of professionals, and not just technologists, the depth of talent here is unique. Artists, entrepreneurs, doctors and professors, all at the top of their trade, frequently choose to build things together. By breaking down silos and embracing novel approaches to company-building, Austin’s diverse entrepreneurs will usher in a new era of growth for the city, state and country… Austin has every type of entrepreneur that a great company needs…
Austin has attracted and will continue to attract young, brilliant talent because of its comparative affordability, outdoor culture and professional development opportunities. This vast pool of expertise is contributing to a remarkably robust climate of innovation. With Tesla, Facebook, Apple, Google, Oracle and other leading companies moving to or expanding in Austin, the entrepreneurial ecosystem will be bolstered when talent from these companies breaks away to start new ventures. Some of my best investments have been in entrepreneurs who gained valuable experience at an outstanding established company before starting their own. Five years from now, Austin will benefit from many tech company alums eager to leverage their expertise to tackle some of the world’s most pressing problems…
Lastly, Austin entrepreneurs are among the most impact-driven in the world. The city, in a push to “Keep Austin Weird,” emphasizes thinking outside the box. It encourages a frontier spirit where founders take big problems into their own hands — I have seen more impact investing pitches in Austin than any other geography… [T]he majority of people at startups here are determined to make the world a better place…
I think Austin founders will offer indisputable proof that companies can simultaneously earn money for shareholders and improve society.
“The things that made Silicon Valley special are not going anywhere,” Breyer adds. “The Bay Area will continue to be a global hub of innovation that attracts courageous entrepreneurs, benefits from world-class institutions and nurtures talent from leading tech companies.” But he’s ultimately predicting a bright future for both cities, while arguing that Austin “offers a remarkable new frontier of opportunity.”
of this story at Slashdot.
Source:: Slashdot