Skip to content
Subscriber Only

Silicon Beach Draws Startups to L.A. as Office Rents Climb

Josh Payne spent seven years in San Francisco, where a technology boom has pushed office rents to the highest level in a decade. He headed south to Los Angeles’s Venice area when starting his Internet firm, StackSocial Inc.

Payne and his 10 employees moved in August into a Frank Gehry-designed loft with three-story-high windows that overlook the Pacific Ocean and the boardwalk’s parade of characters, such as the roller-skating electric-guitar player Harry Perry. StackSocial cut its costs by sharing the 3,000-square-foot (280-square-meter) space and its $9,000-a-month rent with another startup, Lettuce LLC, which produces order-management software.