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No, most of the money doesn't go back into the Valley. It goes into the financial services industry and it stays there. Forever.
by otakucode 12y ago
No, most of the money doesn't go back into the Valley. It goes into the financial services industry and it stays there. Forever.
- 7Figures2Commas 12y agoFirst, I never wrote that "most" of the money is reinvested in the Valley. I wrote that "a lot of the money is invested back into the Valley." Need evidence? Take a look at any of the increasingly common million-dollar seed stage party rounds and who the investors are. It's not cattle ranchers from Texas. As for the financial services industry ("Wall Street"), this doesn't exist in a separate bubble. Who led Uber's recent $1.2 billion round? Fidelity. Who else participated? Blackrock and Wellington Management.