> What it takes is the right people. If you could get the right ten thousand people to move from Silicon Valley to Buffalo, Buffalo would become Silicon Valley. (http://paulgraham.com/siliconvalley.html)
If the millionaires are really moving out of CA, shouldn't this herald the move of a silicon valley type startup atmosphere to the city or cities millionaires are moving?
The article wasn't completely clear about where these millionaires are actually living. One client saved nearly 100K/year by declaring a primary residence in another state (Wyoming). Does that actually mean he/she lives there?
Another thing - almost anyone who bought a modest house in a nice neighborhood in most of the bay area, los angeles, san diego, santa barbara... more than 15 years ago is probably a millionaire on paper. I have a feeling a lot of these millionaire cash outs are retirees tapping home equity.
But are high tech entrepreneurs, flush with a mil from their first success, eager to leave silicon valley and resettle in Wyoming? Seriously doubt it.
> What it takes is the right people. If you could get the right ten thousand people to move from Silicon Valley to Buffalo, Buffalo would become Silicon Valley. (http://paulgraham.com/siliconvalley.html)
If the millionaires are really moving out of CA, shouldn't this herald the move of a silicon valley type startup atmosphere to the city or cities millionaires are moving?