How to survive the San Francisco tech boom
Client: Metric Insights
Publication: Venture Beat
Twitter. Dropbox. Zynga. These name brand startups are part of the revitalization of previously underdeveloped and “affordable” neighborhoods in San Francisco.
However, if you are not one of the aforementioned startups, you probably can’t afford to blow through hundreds or even tens of thousands of dollars on annual rent (especially after hiring your developer and engineering teams). While the experts debate if we are in the midst of another tech bubble, it’s never a bad idea to take a more organic approach to growth and to analyze how efficiently you are managing your cash burn rate.
As it stands now, if you want to find a place to launch and grow your startup, moving to San Francisco has tremendous perks: the best and brightest engineering talent, plenty of free-flowing venture capital, and direct access to one of the most amazing startup ecosystems in the entire world.
Just one (not so small) problem.
Between the cost of living, the competition for talent, the bro culture and inflated valuations, the odds are stacked against the early-stage startup. And in the long term, given trends in global wages and the fact that software isn’t a winner-take-all industry, you might not need the geographical proximity at all.
As an entrepreneur, you can indeed successfully launch and run a company in the heart of the San Francisco tech boom. Here are four ways to do it:
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