> The things you need to start a company (time, knowledge, morale) are all significantly more expensive, and therefor less accessible, in SV It's always been m

> The things you need to start a company (time, knowledge, morale) are all significantly more expensive, and therefor less accessible, in SV It's always been more expensive in Silicon Valley. I would agree that Silicon Valley is probably not a good place to start a low-margin business. Market participants have chosen to start and grow tech businesses in Silicon Valley, so economic opportunity must exist despite seemingly high costs.