Revolution CEO Steve Case said onstage at the Code Conference in Rancho Palos Verdes, California, this week that we should look closer at where venture capital money is going — not to what startups, but to what states.
The investor and former CEO of AOL said 75 percent of VC money went to only three states last year, leaving the remaining 47 to compete for the 25 percent of funds remaining.
“So this feeling people have of being left out and left behind, it’s because they have been left out and left behind,” said Case.
This article originally appeared on Recode.net.
Will you support Vox’s explanatory journalism?
Most news outlets make their money through advertising or subscriptions. But when it comes to what we’re trying to do at Vox, there are a couple of big issues with relying on ads and subscriptions to keep the lights on:
First, advertising dollars go up and down with the economy. We often only know a few months out what our advertising revenue will be, which makes it hard to plan ahead.
Second, we’re not in the subscriptions business. Vox is here to help everyone understand the complex issues shaping the world — not just the people who can afford to pay for a subscription. We believe that’s an important part of building a more equal society. And we can’t do that if we have a paywall.
So even though advertising is still our biggest source of revenue, we also seek grants and reader support. (And no matter how our work is funded, we have strict guidelines on editorial independence.)
If you also believe that everyone deserves access to trusted high-quality information, will you make a gift to Vox today? Any amount helps.
Yes, I'll give $5/month
Yes, I'll give $5/month
We accept credit card, Apple Pay, and
Google Pay. You can also contribute via
:format(webp)/cdn.vox-cdn.com/uploads/chorus_image/image/55061649/REC_ASA_CODE17_20170601_104143_3527.0.jpg)
