> This changed in the early 2010s, in part due to the emergence of the tech bubble of that decade (propped up, no doubt, by low interest rates). But it was also

> This changed in the early 2010s, in part due to the emergence of the tech bubble of that decade (propped up, no doubt, by low interest rates). But it was also changed by the emergence of a new generation of rich ex-founders and early-employees — the result of the Google IPO, and also a smattering of startup acquisitions over the course of the late 1990s and 2000s. These newly rich individuals became investors, and some of these folks — such as ex-Googler and prominent angel Chris Sacca — raised small funds in the $20 million to $40 million range. This meant that the angels now had enough firepower to invest $200,000 checks instead of $20,000 checks — and early stage startups could go longer without talking to VC firms. I feel like this timeline is off. I lived in San Francisco in the first half of the 2010s and the big turning point wasn't Google's IPO but Facebook's. Cost of living was already inflated by then ($2-3k/mo for a SoMa studio) but after end of the lockout period, the property prices started to really grow out of control and the number of luxury cars driving around SF exploded. Angel groups that invested collectively as a mini-VC firm also became much more popular at that point. Googlers were plenty involved at the time but the FB IPO is when the character of the whole Bay Area seemed to change.