I think that's only a myth to those that gravitate toward the Bay Area. Former Magellan fund manager Peter Lynch wrote that he liked companies based around Clev

I think that's only a myth to those that gravitate toward the Bay Area. Former Magellan fund manager Peter Lynch wrote that he liked companies based around Cleveland because half the US population fell within a 500 mile radius of it. The key point being that general entrepreneurship occurs in highly populated areas, which facilitates growth and expansion.