Los Angeles is not all about the fame, fortune, sun, and beaches; more recently it has been becoming the home to over 500 technology companies. Los Angeles has made itself another Silicon Valley by birthing companies such as Snapchat and Hulu (just to name a few). The rise of “Silicon Beach” has also inspired companies such as Google to form offices in the area.
The constant growing startup scene in L.A. has also forced the founding of “accelerators,” which is a type of company whose purpose is to invest in these startups and serve as advisors to them. There is no doubt that these accelerators have had a major impact on these startups as Silicon Beach has earned “over 500 million dollars in funding,” according to ZDNet.
Silicon Beach has also inspired a whole new style in the way people work and specifically, the environments they’re creating for people to work in. The many regions of Los Angeles have served as unique office space and headquarter locations for these startups. For example, many companies such as Google and Snapchat are located right near the beach or close by, this feature adds a unique element to workspaces.
Office spaces in Silicon Beach have also moved away from the standard cubicle style offices by allowing more collaboration through the way they’ve designed their office.
All of these companies either were formed in L.A. or migrated to L.A. for a reason. Many current Silicon Beach entrepreneurs have begun to list why these companies decide to reside in Los Angeles.
“Prices like those [in Los Angeles] are one more reason that less expensive, but still enticing places like Los Angeles make sense to tech entrepreneurs,” Chris DeWolfe, who runs a rapidly growing company called the Social Gaming Network in Beverly Hills, told Inc.
Los Angeles’ affordability serves as the main reason behind the migration and formation of the tech companies and startups because property price is pretty hefty in Silicon Valley.
“All the prosperity has caused the cost of living in Silicon Valley to soar. It’s nearly impossible to buy even a small home for less than a $1 million in San Francisco and many other nearby cities,” added DeWolfe.
So what next for Silicon Beach? Well, major office properties have begun forming in new places south of Venice and construction has started taking place too. We do not know who will be residing in these offices, but we can assume they will be have a long-lasting impact and will provide something new and innovative not just to Silicon Beach but, society as a whole.