[grimlck]

I'm not sure how that helps.

If you are in Silicon Valley (or NYC), then yes, you can fund raise easily and at high valuations, but you are stuck paying Silicon Valley wages.

If you are in the US, but outside Silicon Valley (or NYC), then you cannot raise nearly as easily as in Silicon Valley. So while you are not paying Silicon Valley wages and rental prices, your valuations are lower as well.

The last option is to have headquarters in Silicon Valley and have all your developers be remote - but that option seems frowned upon as seems awfully close to the outsourcing development.