Where to live if you want to get rich
00:00:00.000 | One question I get a lot is if you were 25 years old,
00:00:03.160 | where would you live to maximize your financial returns?
00:00:06.080 | This is the most obvious answer in the world, which is the Bay Area.
00:00:09.640 | The reason is this is the place where you go to get work done.
00:00:12.160 | There's a reason why most of the Magnificent Seven were founded
00:00:16.440 | and built and scaled, not just specifically in the Bay Area,
00:00:19.400 | but in the peninsula, meaning south of San Francisco.
00:00:22.080 | The interesting thing about Palo Alto is that there's literally nothing to do there.
00:00:25.400 | It's a place where you come to work.
00:00:27.240 | If you're trying to do something really important, it takes enormous dedication,
00:00:31.120 | almost to the point of having no other priorities.
00:00:34.240 | And that is much easier to do in a place where there are no distractions
00:00:37.400 | than in a place like New York or Miami.
00:00:39.000 | These are not the places I typically think of as aggregating talent
00:00:42.320 | who will basically dedicate themselves at all costs to an idea.
00:00:45.920 | Startups are those.
00:00:46.760 | They are these very ambitious ideas that can very quickly die
00:00:51.120 | if people don't breathe life into it.
00:00:52.760 | And I think you're much more likely to do that
00:00:54.720 | when you have nothing else to do except to give your life to that idea.