YC
Should You Move Your Company to Silicon Valley? - Eric Migicovsky, Pebble Founder
@ Y Combinator
06/14/19
Takeaways
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Eric Migicovsky
06/14/19
@ Y Combinator
You should probably move your company to Silicon Valley if your customers are there or if you believe that Silicon Valley companies will be your best first customers.
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Eric Migicovsky
06/14/19
@ Y Combinator
Being close to your customers allows you to iterate quickly by obtaining immediate feedback and building solutions that meet their needs.
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Eric Migicovsky
06/14/19
@ Y Combinator
The network in Silicon Valley is crucial for startups, providing opportunities for collaboration and support that are hard to find elsewhere.
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Eric Migicovsky
06/14/19
@ Y Combinator
Experiencing a high-density tech environment in Silicon Valley can lead to valuable connections and insights that significantly benefit early-stage companies.
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Eric Migicovsky
06/14/19
@ Y Combinator
The pressure to perform in Silicon Valley, surrounded by high-achieving companies, can motivate you to accelerate your startup's progress compared to being in a less competitive environment. I realized that the first three years of my startup could have been achieved in six months in Silicon Valley.
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Eric Migicovsky
06/14/19
@ Y Combinator
Silicon Valley is very expensive; I was paying $450 a month in Waterloo, but it costs $3,000 a month for an apartment here.
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Eric Migicovsky
06/14/19
@ Y Combinator
Salaries at big tech companies in Silicon Valley are high, making it harder to recruit talent.
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Eric Migicovsky
06/14/19
@ Y Combinator
If your customers are based in your current location, it's better to stay close to them, especially when trying to achieve product-market fit.
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Eric Migicovsky
06/14/19
@ Y Combinator
If you have an unfair advantage, like a direct connection to technology from a research lab, it may be better to stay where you are rather than move to Silicon Valley.
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Eric Migicovsky
06/14/19
@ Y Combinator
Building a network in the Bay Area is extremely valuable if you're planning to raise money or grow your company quickly.
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Eric Migicovsky
06/14/19
@ Y Combinator
You should consider moving your startup to Silicon Valley if your first customers will be here, as it makes sense to be close to them.
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Eric Migicovsky
06/14/19
@ Y Combinator
Silicon Valley has an unparalleled network of smart tech people who can help you succeed.
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Eric Migicovsky
06/14/19
@ Y Combinator
Living in Silicon Valley provides a good forcing function to improve your performance by benchmarking against successful companies.
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Eric Migicovsky
06/14/19
@ Y Combinator
Despite the high costs, the amazing weather in Silicon Valley is a factor to consider when deciding to move your startup here.