San Francisco is still the startup capital of the world …and it’s not really close

In the same way that aspiring actors head to Hollywood to make it as a star (which now might be harder than ever), San Francisco — and its surrounding suburbs and towns — has long been the mass at the center of the startup universe, with founders flocking to the city, hoping to absorb the magic they’ll need to turn their company into a household name.

According to PitchBook’s latest Global VC Ecosystem Rankings, in the six years leading up to Q2 2024, a massive $430 billion in venture funding flowed into SF-based startups — more than double the amount raised in New York, which was second. By comparison, Beijing attracted just over a third of San Francisco’s total deal flow.

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