[rayiner]

20-somethings at Wall Street and City firms are making billion dollar trades--ones where even a small amount of risk can yield huge losses. That takes an appetite for risk. Those firms have pipelines funneling in the top graduates from the top schools. They've got access to (rare) talent. They've got the connections with individual and institutional investors that can raise billions of dollars on tight timelines to finance mergers, acquisitions, or expansion. That's access to capital that could move but isn't necessarily going to. And they've got a well-developed supporting infrastructure of accountants, lawyers, and analysts helping to keep the gears turning.

You can't easily recreate that somewhere else.

[pm90]

These are good points and I don't understand the downvotes. Silicon Valley is great ecosystem for startups but once they start to grow big, they do need financial services from the many many firms on wall street. That is a different kind of talent and I think SV (and perhaps HN as well) fails to understand the importance of the availability of capital instruments and prudent financial advice that is available so easily just across the country.