As a life-long East Coaster I'd also add this:
There's an optimism that permeates and reinforces the entrepreneurial spirit in the bay area that the East doesn't have anymore. It's a kind of frontier, the world is my oyster, I can do anything kind of thinking, that's needed in this kind of highly speculative industry.
On the downside, coming from the East Coast, it feels weird at times, interacting with SV folks. Bringing up obvious concerns or problems is met more with a "why are you poo pooing my optimism buzz?" more often than valid concerns taken as a serious consideration. The hyper-optimism is socially reinforced, I have my head in the clouds, you have yours, it's rude to bring anyone down.
As an outsider, it seems to explain certain bizarre behaviors I'd encountered when dealing with West Coast firms, usually centered on outrageous and unjustifiable expenditures of their VC money before the company has made any sort of sniffs at being profitable.
There's an optimism that permeates and reinforces the entrepreneurial spirit in the bay area that the East doesn't have anymore. It's a kind of frontier, the world is my oyster, I can do anything kind of thinking, that's needed in this kind of highly speculative industry.
On the downside, coming from the East Coast, it feels weird at times, interacting with SV folks. Bringing up obvious concerns or problems is met more with a "why are you poo pooing my optimism buzz?" more often than valid concerns taken as a serious consideration. The hyper-optimism is socially reinforced, I have my head in the clouds, you have yours, it's rude to bring anyone down.
As an outsider, it seems to explain certain bizarre behaviors I'd encountered when dealing with West Coast firms, usually centered on outrageous and unjustifiable expenditures of their VC money before the company has made any sort of sniffs at being profitable.