In a recent interview, Mark Zuckerberg announced that he wouldn’t launch a new company in the San Francisco Bay Area. He said that it’s not profitable for the company due to high living costs, income inequality, and other associated problems in the region. San Francisco is famed as the tech capital of the United States. Generally, considered as home to prestigious companies such as Apple, Google, and Facebook. He addressed to new entrepreneurs to avoid settling their company or business in that region.
However, San Francisco has witnessed much great company and work, but it’s a tough deal for beginners. The situation has changed as nowadays it’s easy to find customers and get in reach to more and more people. The modern structure promotes startups, companies, and businesses to grow at various places and hence establish their worth. He mentioned their struggles for the same. It was strenuous to get servers, data centers, and various related problems.
Silicon Valley, apart from being a tech – town, is not an exceptional region for building new startups. A similar statement was given by Alexis Ohanian, co-founder, and investor of Reddit, that San Francisco is not the suitable place for a new startup. Due to their high living costs, the startups won’t be able to mark profit and excel in their particular field.
Over in all, Mark Zukerberg has this message for the new entrepreneurs to avoid setting up a new venture in San Francisco and look for other better options. It could be profitable and add worth to their enterprises.