One question I get a lot is if you were 25 years old, where would you live to maximize your financial returns? This is the most obvious answer in the world, which is the Bay Area. The reason is this is the place where you go to get work done. There's a reason why most of the Magnificent Seven were founded and built and scaled, not just specifically in the Bay Area, but in the peninsula, meaning south of San Francisco.

The interesting thing about Palo Alto is that there's literally nothing to do there. It's a place where you come to work. If you're trying to do something really important, it takes enormous dedication, almost to the point of having no other priorities. And that is much easier to do in a place where there are no distractions than in a place like New York or Miami.

These are not the places I typically think of as aggregating talent who will basically dedicate themselves at all costs to an idea. Startups are those. They are these very ambitious ideas that can very quickly die if people don't breathe life into it. And I think you're much more likely to do that when you have nothing else to do except to give your life to that idea.