Tech Startups & LA Housing

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3 Tech And Housing Facts


You Should Know

ONE:

According to BUILTINLA.com, there are 68 companies with 50M or more in funding currently operating in Los Angeles & another 55 companies with start-up funding between 20M – 50M.

The burgeoning tech scene in LA is creating significant positive economic and social impacts. Of the nine industries driving growth in California, Information, which includes software, accounts for almost 9% of GDP.

The amount of growth and prosperity LA has seen over the last ten years is almost impossible to match. California has also had a negative population growth, meaning more people are leaving the state than actually immigrating here. The culprit? The high cost of living. However, there are higher paying jobs entering the state than ever before. The majority of residents leaving California make less than 100k per year. If looked at on a macro-level, the information sector, which includes software (social media and lots of tech companies), account for almost 9% of the states GDP. California is 1/3 of the nations GDP, which means that the tech industry in California translates to over 3% of the entire nations GDP and this plane hasn’t even left the runway.


TWO:

Youtube has surpassed TV as America’s most-watched platform. Netflix is now the most popular platform for watching entertainment on TV, ahead of traditional cable and broadcast television networks. Hulu, Facebook, Amazon and HBO trail not too far behind.

All six of these companies have large footprints and offices in Los Angeles.

Los Angeles continues to lead as one of the top media and advertising hubs in the US. The dollars spent on media, marketing, and advertising is shifting away from traditional TV and cable networks and pouring into the tech industry and into firms like Netflix, Hulu, Amazon, Google, Facebook, Snaphat, and Youtube. As the attention shifts away from the TV and to our mobile devices and personal computers, so will the dollars most companies spend to acquire new business and brand their companies and products.


THREE:

Last year more Americans left the county of San Francisco than arrived. According to a recent survey, 46% of respondents say they plan to leave the Bay Area in the next few years, up from 34% in 2016.

So many startups are branching out into new places that the trend has a name, “Off Silicon Valleying”.

The culprit is the high cost of living.

Los Angeles continues to lead as one of the top media and advertising hubs in the US. The dollars spent on media, marketing, and advertising is shifting away from traditional TV and cable networks and pouring into the tech industry and into firms like Netflix, Hulu, Amazon, Google, Facebook, Snaphat, and Youtube. As the attention shifts away from the TV and to our mobile devices and personal computers, so will the dollars most companies spend to acquire new business and brand their companies and products.