Money. That's all. You can find smart people all over the world. What you can't find is easy money, in large quantities, looking for outsized returns. New Yor

Money. That's all. You can find smart people all over the world. What you can't find is easy money, in large quantities, looking for outsized returns. New York and Silicon Valley have a critical mass of people who have enough money to put into high-risk endeavors. In New York, they give money to young, eager people who start hedge funds. In Silicon Valley, it's "tech". Actually, venture capital funds tend to lose money, but that's another story. It's kind of amazing that with all the illegal collusion and note-sharing (I'm sorry, I mean "co-funding") they do, the industry still can't turn a profit.