I would also posit that CA coast (and west coast in general) weather, geographical amenities, and food are a big draw for many people. Fruits and vegetables taste better when they come from an hour away rather than across the country.
Plus, CA’s labor laws giving clear rights to people for their work on their own side projects and prohibition of non competes make it quite attractive for tinkerers and innovators.
I’m not sure it did. What the west coast has is a new money investor class which seeks profits from equity growth rather than out of annual cash flow and that’s Silicon Valley’s advantage.
The equity growth priority allows SV to hire talent from around the world before achieving profitability.
There’s a lot of tech talent in east coast finance. But it’s just the hired help for old money. And there is lots and lots in the defense sector, but it doesn’t seek publicity.
