After posting on Wednesday about the graphic portrayal of a startup boom in Los Angeles provided by Represent.LA’s mapping of the entrepreneurial landscape, Ebyline figured that a journalism-focused company should probably rely on facts, not anecdotes (although anecdotes make great ledes and kickers).
Here’s a quick chart thrown together using data from the National Venture Capital Association (downloadable to all here).
The startling takeaways (aside from the sad realization that Excel will forever be a foreign language):
Over the last five years LA’s venture funding hasn’t budged (+1%) while New York (+21%) and Silicon Valley (+17%) have shot up. In terms of deal numbers, LA is down 1% over the last 5 years while SF is up 23%.
LA’s share of funding among those three cities has held remarkably steady at around 12% since 2001.
Now, this is just one measly data set. Venture capital isn’t what it used to be, especially to early stage companies. And it sure feels like there’s a ton of buzz happening with near-nightly events all over the city thrown by coworking spaces, accelerators, incubators, business schools and investors.
Something for journalism entrepreneurs to ponder this weekend while they’re bobbing on their surfboards. That’s what you’re doing this weekend, right?