San Francisco's VC Boom Is Over

The second-quarter PricewaterhouseCoopers MoneyTree report on venture capital investment in the U.S. (based on data from CB Insights) came out last week, and it once again showed the San Francisco area in the lead:

This leadership is a relatively new thing. Until 2010, the San Francisco area had, except for one quarter in 1999, always trailed Silicon Valley -- the longtime headquarters of the U.S. tech industry just to its south -- in the MoneyTree tallies of inbound VC investment, which go back to 1995. In fact, PwC had just counted the two as a single region called Silicon Valley until this year, when it decided to split the area along the dividing line of California Route 921500051701686 and redo all its historical data accordingly. That historical data shows San Francisco to have at times trailed even New York and/or New England (yes, the way PwC sorts VC investments by region is a little quirky). But in recent years, led by the unicorny likes of Uber, Airbnb, Pinterest and Dropbox, the city by the bay pulled ahead of the pack.