1. A little bit of an update to my earlier analysis of the geography of venture capital (VC) investment. This is based on Q3 2020 data from @PitchBook h/t: @IanHathaway https://nvca.org/research/pitchbook-nvca-venture-monitor/

2. It shows little evidence of any significant shift in the geography of US VC financed high-technology startups.

3. The data does not have a lot of metro level detail (I'll get to that in a minute). So let me start with state data.

4. California leads with nearly $60 billion in VC investment. Massachusetts is next with almost $13 billion. Then NY with $12 billion. But that is down significantly from more than $21 billion in 2019. Washington State has $3.3 billion. Texas $3.2 billion. North Carolina $3B.

5. Texas has $3.2 billion. And Florida further down the list at roughly $1.5 billion - a little less than Illinois & a little more than Pennsylvania.

6. The data thus show that California has nearly TWENTY times the VC investment in high-tech startups than Texas. And almost FORTY times more than Florida ... Seems like a pretty big edge to me.

7. Even with its significant 2020 decline in VC investment, NY still has about 4 times as much as Texas & 7.5 times as much as Florida ...

8. Turning to city and metro data, which only covers the TEN leading metros.
The San Francisco Bay Area leads with nearly $50 billion
NY is 2nd with $12.9B. Down significantly from $22.9B in 2019.
LA 3rd with $12.6B
Boston 4th $13B
Then it falls off ...

9. Next in line ...
Seattle $3.2B
DC $1.9B
San Antonio (INTERESTING) $1.6B
Denver $1.6B
Philly $1.6B
Chicago $1.5B

10. Unless Austin is lumped in with San Antonio, which I highly doubt, neither Austin or Miami make the top ten.

11. There is a category other (every other metro, I am guessing) which totals $15 billion. A little more than LA, NY or Boston. And about a quarter of the Bay Area.

12. Bottom line. Little change thus far in the available data tracking VC investment in US high tech startups. Biggest shift is massive decline in VC investment going to NYC startups. No evidence of significant rise of any new hubs ...