"This analysis examines the extent, location, and concentration of AI technology creation and business activity in U.S. metropolitan areas."
"California, Massachusetts, and New York continue to dominate the VC investment scene, but meaningful investment activity is also occurring outside of these traditional geographical hubs. Washington, Texas, North Carolina, Michigan, Colorado, Illinois, and Pennsylvania all saw robust activity in 2020."
“Based on 'winner-take-most' network economies, the innovation sector has generated significant technology gains and wealth but has also helped spawn a growing gap between the nation’s dynamic ‘superstar’ metropolitan areas and most everywhere else.”
“Companies less than one-year-old have created an average of 1.5 million jobs per year over the past three decades.”
“Our findings emphasize the critical role startups play in U.S. employment growth dynamics.”
“The almost magical economics of job creation are that for each new high-tech job in a city, five additional jobs are ultimately created outside of the high-tech sector in that city.”