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Final LA tech and venture landscape

A 2016 overview of the technology & venture capital industries in Los Angeles presented by Mark Suster, Managing Partner of Upfront Ventures for the Mayor's LP / VC Summit.

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LA Tech & Venture Landscape
Mark Suster
2
Silicon Valley dominated the infrastructure phase of the Internet.
In effect, they built the roads, bridges and airports required for trade.
Infrastructure
Servers, Switches, Routers, Databases, Browsers, Search
3
The “Application Layer” (Three C’s) of the Internet favors cities like LA:
Content, Commerce & Communications
Personal computing
Telecommunications
Open source software
Scalable computing & storage
Application Layer
Content Commerce Communication
Infrastructure
4
The Internet is largely becoming a video platform.
Content Commerce Communication
<30 minutes / day 5.3 hours / day
Past:
Text
Present:
Video & Games
Future:
Augmented &
Virtual Reality
5
Many of the best video startups in the country
are being built in Los Angeles.
• Writers
• Directors
• Actors
• Special effects
• Sound
• Stages
• Costumes
• Make-up
• Talent
• Creator tools
VerticalBroad
Content Commerce Communication
Content development
companies are becoming
increasingly valuable
6
Content has become incredibly valuable as distributors compete for exclusive
media.
•
OTT
•
Mobile Video
•
Web
Content Distribution
Content Commerce Communication
43M
31M
100M
13M
55M
7
LA has become a powerhouse in games. Several hundred millionaires will
help create the next wave of innovation.
$1.6B 2015 revenues
$Bn++
Valuation when
acquired by
Tencent
Monthly Active Players Viewers of 2016 Finals
Source: Forbes, Fortune
Content Commerce Communication
8
Virtual Reality
VR/AR are in the first inning but LA will be a leading player in what will be a
dominant computing platform in 5-10 years.
The same
skills that led
video startups
to LA are the
basis for VR
successes
Content Commerce Communication
9
LA knows how to create consumer brands and has the celebrities to promote
them.
Historic Brands Internet Brands
Content Commerce Communication
Past
Generation X
1.4B
10
LA owns how the next generation of people communicate and meet with
each other.
CommerceContent
Millennials & Generation Z
410M Snaps per
Day
71%
of Users
are < 25 yo
150M
Daily Active
Users
83%
of Users
are < 34 yo
35min
per Day In-
App by DAUs
Swipes per
Day
Source: “Snapchat’s Daily Active User Count has Surpassed a New Mile Stone” Kia Kokalitcheva, Fortune 9/26/16
Source: “How Snapchat Demographics are Surprising Shifting in 2016” MediaKix Source: Tinder
Source: “Tinder Forecasts Rise in Paid Subscribers, Ad Revenue” AdAge, 6/3/2016
Source: “Research says 30% of Tinder Users are Married” Stuart Dredge, Business Insider, 5/7/15
Communication
11
The “Snapchat Effect” of a public Internet company
in Los Angeles will be enormous.
Attracting talent
to Los Angeles
M&A and Biz Dev
Many millionaire
angels
Future founders post IPO
CommerceContent Communication
12
Venture in LA
13
LA is #3 largest tech ecosystem in the US…
Bay Area New York Greater Northwest Boston Chicago Austin DC Colorado
12%
2%2%2%3%4%4%
14%
24%
Los Angeles
Source: AngelList – startup companies by region as of July 31, 2014.
Note: SoCal includes LA (69%), San Diego (15%) , Orange County (9%), and other areas (6%), Northwest includes Oregon & Washington. Silicon Valley includes San Francisco & Bay Area.
14
…and is among the fastest growing.
Greater Northwest Chicago New York DC Boston Bay Area Colorado Austin
5.3%
3.8%3.9%4%4.1%
4.4%4.5%4.6%4.7%
Los Angeles
Source: AngellList – startup companies by region by month.
Note: Compound monthly growth rate of new startups by region from Jan 2014 to June 2014
15
LA’s venture community has never been stronger and is growing rapidly.
[
16
LA has done great at funding early-stage innovation. Increasingly we should
also develop some late-stage local funding sources.
Source: CBInsights
Seed Series A Series B Late Stage
[ ] ]Los Angeles Funds Bay Area Funds
17
LA advantages
18
Greater LA has more top 25 engineering schools than anywhere else in the
country.
Source: US News & World Report, Accreditation Board for Engineering and Technology (ABET); Includes graduate universities within 150 miles of metropolitan area
19
Greater
Boston
Bay Area
New York
10,945
6,811
7,561
9,862
Los Angeles
Sources: US News & World Report, Accreditation Board for Engineering and Technology (ABET); Includes graduate universities within 150 miles of metropolitan area
And Greater LA graduates more engineers than anywhere else in the country.
Engineering Graduate Enrollment
20
LA has an affordability advantage over SF or NYC…
Source: Council for Community and Economic Research Cost of Living Index (via bankrate.com Cost of Living Calculator)
Los Angeles San Francisco New York
$162K
$126K
$100K
equivalent
income
equivalent
income
21
…and a clear weather and lifestyle bonus.
Pleasant days: Days with (1) mean temperature between 55° F and 75° F, (2) minimumtemperature above
45° F, (3) maximum temperature below 85° F, and (4) no significant precipitation or snow depth
Source: Kelly Norton, Kellegous.com “The Pleasant Places to Live” graphic & analysis using NOAA data
22
LA has infrastructure advantages in trade and population.
of top 10 major ports in the US
3
$460B
import / exports per year
most populous city
#2
18.7M
Greater LA
population
Trade Population
Source: Kyser Center for Economic Research International Trade Outlook – Los Angeles County 2016-2017, United States Census Bureau: Annual Estimates of the Resident
Population for Combined Statistical Area, Estimate as of July 1, 2015
23
LA has always been an entrepreneurial city
Greater
Miami
SF
Houston
NYC
Atlanta
Phoenix
Riverside
Dallas
Seattle
DC
Boston
Chicago
Philadelphia
Detroit
530
190200200
240240
290
310
350360360360
400
440
490
LosAngeles
Source: Kauffman Index of Entrepreneurial Activity, April 2014
Entrepreneurs per 100,000 People
24
Fast growing tech ecosystem
The future is sunny in LA.
Growing venture capital community
Content, Commerce, Communications
Talent + Lifestyle
Thank you

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Final LA tech and venture landscape

  • 1. LA Tech & Venture Landscape Mark Suster
  • 2. 2 Silicon Valley dominated the infrastructure phase of the Internet. In effect, they built the roads, bridges and airports required for trade. Infrastructure Servers, Switches, Routers, Databases, Browsers, Search
  • 3. 3 The “Application Layer” (Three C’s) of the Internet favors cities like LA: Content, Commerce & Communications Personal computing Telecommunications Open source software Scalable computing & storage Application Layer Content Commerce Communication Infrastructure
  • 4. 4 The Internet is largely becoming a video platform. Content Commerce Communication <30 minutes / day 5.3 hours / day Past: Text Present: Video & Games Future: Augmented & Virtual Reality
  • 5. 5 Many of the best video startups in the country are being built in Los Angeles. • Writers • Directors • Actors • Special effects • Sound • Stages • Costumes • Make-up • Talent • Creator tools VerticalBroad Content Commerce Communication
  • 6. Content development companies are becoming increasingly valuable 6 Content has become incredibly valuable as distributors compete for exclusive media. • OTT • Mobile Video • Web Content Distribution Content Commerce Communication
  • 7. 43M 31M 100M 13M 55M 7 LA has become a powerhouse in games. Several hundred millionaires will help create the next wave of innovation. $1.6B 2015 revenues $Bn++ Valuation when acquired by Tencent Monthly Active Players Viewers of 2016 Finals Source: Forbes, Fortune Content Commerce Communication
  • 8. 8 Virtual Reality VR/AR are in the first inning but LA will be a leading player in what will be a dominant computing platform in 5-10 years. The same skills that led video startups to LA are the basis for VR successes Content Commerce Communication
  • 9. 9 LA knows how to create consumer brands and has the celebrities to promote them. Historic Brands Internet Brands Content Commerce Communication
  • 10. Past Generation X 1.4B 10 LA owns how the next generation of people communicate and meet with each other. CommerceContent Millennials & Generation Z 410M Snaps per Day 71% of Users are < 25 yo 150M Daily Active Users 83% of Users are < 34 yo 35min per Day In- App by DAUs Swipes per Day Source: “Snapchat’s Daily Active User Count has Surpassed a New Mile Stone” Kia Kokalitcheva, Fortune 9/26/16 Source: “How Snapchat Demographics are Surprising Shifting in 2016” MediaKix Source: Tinder Source: “Tinder Forecasts Rise in Paid Subscribers, Ad Revenue” AdAge, 6/3/2016 Source: “Research says 30% of Tinder Users are Married” Stuart Dredge, Business Insider, 5/7/15 Communication
  • 11. 11 The “Snapchat Effect” of a public Internet company in Los Angeles will be enormous. Attracting talent to Los Angeles M&A and Biz Dev Many millionaire angels Future founders post IPO CommerceContent Communication
  • 13. 13 LA is #3 largest tech ecosystem in the US… Bay Area New York Greater Northwest Boston Chicago Austin DC Colorado 12% 2%2%2%3%4%4% 14% 24% Los Angeles Source: AngelList – startup companies by region as of July 31, 2014. Note: SoCal includes LA (69%), San Diego (15%) , Orange County (9%), and other areas (6%), Northwest includes Oregon & Washington. Silicon Valley includes San Francisco & Bay Area.
  • 14. 14 …and is among the fastest growing. Greater Northwest Chicago New York DC Boston Bay Area Colorado Austin 5.3% 3.8%3.9%4%4.1% 4.4%4.5%4.6%4.7% Los Angeles Source: AngellList – startup companies by region by month. Note: Compound monthly growth rate of new startups by region from Jan 2014 to June 2014
  • 15. 15 LA’s venture community has never been stronger and is growing rapidly.
  • 16. [ 16 LA has done great at funding early-stage innovation. Increasingly we should also develop some late-stage local funding sources. Source: CBInsights Seed Series A Series B Late Stage [ ] ]Los Angeles Funds Bay Area Funds
  • 18. 18 Greater LA has more top 25 engineering schools than anywhere else in the country. Source: US News & World Report, Accreditation Board for Engineering and Technology (ABET); Includes graduate universities within 150 miles of metropolitan area
  • 19. 19 Greater Boston Bay Area New York 10,945 6,811 7,561 9,862 Los Angeles Sources: US News & World Report, Accreditation Board for Engineering and Technology (ABET); Includes graduate universities within 150 miles of metropolitan area And Greater LA graduates more engineers than anywhere else in the country. Engineering Graduate Enrollment
  • 20. 20 LA has an affordability advantage over SF or NYC… Source: Council for Community and Economic Research Cost of Living Index (via bankrate.com Cost of Living Calculator) Los Angeles San Francisco New York $162K $126K $100K equivalent income equivalent income
  • 21. 21 …and a clear weather and lifestyle bonus. Pleasant days: Days with (1) mean temperature between 55° F and 75° F, (2) minimumtemperature above 45° F, (3) maximum temperature below 85° F, and (4) no significant precipitation or snow depth Source: Kelly Norton, Kellegous.com “The Pleasant Places to Live” graphic & analysis using NOAA data
  • 22. 22 LA has infrastructure advantages in trade and population. of top 10 major ports in the US 3 $460B import / exports per year most populous city #2 18.7M Greater LA population Trade Population Source: Kyser Center for Economic Research International Trade Outlook – Los Angeles County 2016-2017, United States Census Bureau: Annual Estimates of the Resident Population for Combined Statistical Area, Estimate as of July 1, 2015
  • 23. 23 LA has always been an entrepreneurial city Greater Miami SF Houston NYC Atlanta Phoenix Riverside Dallas Seattle DC Boston Chicago Philadelphia Detroit 530 190200200 240240 290 310 350360360360 400 440 490 LosAngeles Source: Kauffman Index of Entrepreneurial Activity, April 2014 Entrepreneurs per 100,000 People
  • 24. 24 Fast growing tech ecosystem The future is sunny in LA. Growing venture capital community Content, Commerce, Communications Talent + Lifestyle