Interesting question. I think once you get outside of the Bay Area, it really doesn't matter anymore where you are. SF has the whole echo chamber thing going

Interesting question. I think once you get outside of the Bay Area, it really doesn't matter anymore where you are. SF has the whole echo chamber thing going for it, which can be a huge advantage, and it has tons of little startups to interact with. Nowhere else has either of those, so there's no particular reason to pick one place over another. In Europe, I've set up shop in Pamplona, Chamonix, Kalymnos, and now in a little town up in the Lake District of England. Each has pretty much exactly the same startup culture, consisting entirely of me and whatever other developers I've brought out with me.