[wbl]

Because you've got to take care of your sick mother was very famously a reason. But there's an more serious reason: you can hire an incredible depth of experts here you can't anywhere else, who are immersed in informal networks that diffuse innovation.

Why do hedge funds pick Manhattan? Why are all the watchmakers in Jura? Why are biotech firms in Boston and New Jersey? Why are all the US car companies in Detroit? The answer is thick hiring markets and agglomerative efficiencies. Top people don't sell equities in Dallas.

[ben_jones]

> Because you've got to take care of your sick mother was very famously a reason.

With aging parents I empathize a lot with this appreciate you raising it. It’s true the locals will have many reasons to be here and will continue to start businesses and enterprises here.

> you can hire an incredible depth of experts here you can't anywhere else

I’d argue that there are a lot of bad institutional habits in the Bay with regards to software and business management such that the benefit of domain expertise is caught in a nuclear blast of bad “leadership” and dumb capital.

[kolbe]

Covid diffused a massive number of those experts throughout the world.

[vel0city]

You probably could have picked a different city than Dallas, as Dallas actually has a decently large financial sector. It has historically been a pretty big part of the financial industry of the Southwest US buoyed by the Federal Reserve presense and within the last few years has had some massive growth by many big banking and finance groups. Its the second biggest financial area behind NY in the US.

"The industry’s rapid Texas expansion since the onset of the pandemic means the area now has more finance workers than Chicago or Los Angeles, trailing only New York."

https://www.dallasnews.com/business/banking/2024/01/02/wall-...

[TMWNN]

That's interesting; I'd thought Charlotte was the #2 financial center after NYC. Perhaps by the total market cap headquartered there (given Bank of America and other large banks)?

Regardless, the fact that there are multiple such large centers is a good thing.

[nocoiner]

I think it was a reference to Liar’s Poker.

[vel0city]

Thanks for cluing me in to the reference; I did totally miss that one.

Still, the world is a much different place in 2024 than in 1989.

[TMWNN]

"Equities in Dallas" being a Liar's Poker reference that vel0city didn't recognize doesn't affect the validity of the comment, specifically "Its the second biggest financial area behind NY in the US".