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DeepNewz, mobile.
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Venture capital funding for startups in Los Angeles experienced a significant drop of 73% to $6.9 billion in 2023 compared to the peak in 2021. The decline is attributed to a funding boom in AI benefiting the Bay Area, with SF Bay Area hosting 141 AI events in May, surpassing other major tech cities like NY, LA, Seattle, Boston, Austin, and Miami.
-Startup of the Week: @TVLABS 🤩 -VC Spotlight: @CapitalAlso (@nunzi46) 🤩 -#NYTechWeek '24 🗽 events ! https://t.co/69JCkrmEn5
A sharp falloff in venture capital funding highlights the challenges L.A. has faced in trying to retain its perch as a major tech hub and how the city has fallen short of lofty goals to promote itself as an alternative to Silicon Valley and New York. https://t.co/hqqDKKtc4w
A look at challenges LA faces as it tries to remain a major tech hub; CB Insights: VC funding of startups in LA totaled $6.9B in 2023, down 73% from 2021 (Los Angeles Times) https://t.co/Z1qt12fnny 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/aCJ1zHN4n8
