The two drivers of repeatable venture-scale financial returns in any given market are (a) talent, and (b) capital. Last week I wrote about some of the long-term trends that are driving many of the world’s most talented people to prefer Seattle over San Francisco. Since money generally chases talent, I thought it made sense to continue…

I spent the weekend in Palo Alto at my 20th business school reunion. My wife and I met in grad school and moved to Seattle not long after, but most classmates chose to stay in the Bay Area. That’s not surprising given the region’s extraordinary economic performance, especially for anyone working in tech. I visit continue…