Steve Case Discusses the Importance of Expanding Tech Communities Out of the Bay

Spencer Rascoff

Spencer Rascoff serves as executive chairman of dot.LA. He is an entrepreneur and company leader who co-founded Zillow, Hotwire, dot.LA, Pacaso and Supernova, and who served as Zillow's CEO for a decade. During Spencer's time as CEO, Zillow won dozens of "best places to work" awards as it grew to over 4,500 employees, $3 billion in revenue, and $10 billion in market capitalization. Prior to Zillow, Spencer co-founded and was VP Corporate Development of Hotwire, which was sold to Expedia for $685 million in 2003. Through his startup studio and venture capital firm, 75 & Sunny, Spencer is an active angel investor in over 100 companies and is incubating several more.

Steve Case Discusses the Importance of Expanding Tech Communities Out of the Bay
Steve Case

When you think of thriving tech scenes, San Francisco and the Bay Area probably come to mind. Steve Case has spent most of his career working to expand the tech scene out of the Bay area bubble.

“I recognize great ideas are everywhere, great entrepreneurs are everywhere,” Case said. “But for a lot of people…they don't really have the opportunity to turn those [ideas] into companies.”

On this episode of Office Hours, AOL Co-founder and Revolution CEO and Chairman Steve Case talks about empowering tech communities through his work at Revolution and his entrepreneurial journey in founding one of the most important contributions to the internet – AOL.


“People didn't really believe that there would ever be a mass market for the internet,” Case said reflecting on his early career. “Of course, that proved not to be the case. And suddenly, I saw that same look [of judgment] in people's eyes 10 years ago, when we started talking about [The Rise of the Rest.]”

The Rise of the Rest Seed Fund is a Revolution initiative aimed at accelerating the growth of early-stage startups across the country. There is more opportunity for investors to back companies that aren't based in the Bay during their early stages, since valuation and arbitration are lower in less competitive sectors.

“I also think it's a great investment opportunity, because so much capital is focused in places like Silicon Valley,” Case said.

According to Case, most VCs are investing about 75% of all funds in only three states: California, Massachusetts and New York. But it’s getting better – with the pandemic and virtual conferencing becoming the norm, Case believes people are more open to listening to startups outside the major tech hubs.

Not to mention…the popularity of Case’s bus tours that started about eight years ago.

“We decided to hit the road to see for ourselves what's happening in some of these cities,” he said. “It's a way to learn about companies, learn about these cities and try to do what we can when we are there. It kind of is a convening platform — we invite people on the bus to meet each other and hopefully work with each other down the road.”

Case said community is critical to helping a city becoming a vibrant tech hub.

“The talent piece is obviously tied in with that, the community collaboration piece is critical,” Case explained. “But one of the things that was really catalytic — and you've seen this in L.A. — are these tentpole companies where there's a success of a company that people say, ‘Wow, I didn't know that was possible here.’ And then some of the people that were part of that company get experience in scaling companies and then decide they want to start some other companies.”

With tons of experience and expertise under his belt, Case compiled a lot of his learnings in his book The Rise of the Rest: How Entrepreneurs in Surprising Places are Building the New American Dream, which came out last year. In the book, Case details the importance of connecting entrepreneurs and shifting our stereotypical views on tech.

“Rather than start another company and have that be, you know, the next act…How do you create a platform that enables you to have a broader impact?” Case said.

dot.la social and engagement intern Gitanjali Mahapatracontributed to this post.

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🍵☕️Top 6 Coffee Alternatives for Enhanced Productivity

In the fast-paced world of startups and venture capital in Los Angeles, maintaining peak productivity is essential for founders and investors alike. As the hustle intensifies, many are seeking alternatives to traditional coffee that not only provide a sustained energy boost but also support overall health and well-being. The following list highlights some of the top-rated coffee alternatives that can enhance focus and productivity while minimizing the adverse effects of caffeine. These options incorporate adaptogens, superfoods, and gut-friendly ingredients, making them ideal choices for those looking to optimize their performance without the afternoon crash.


Matcha

Image Source: Jade Leaf Matcha

Matcha is a finely ground green tea that offers a moderate amount of caffeine, along with L-theanine, which promotes relaxation without drowsiness. This combination can enhance focus and concentration, making matcha a suitable alternative for those looking to boost productivity without the jitters of coffee.

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Dandelion Root Coffee

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Dandelion root coffee is a caffeine-free alternative that mimics the taste of coffee. It is known for its potential to support liver health and digestion, which can contribute to overall well-being and productivity. The drink can help avoid the acidity and jitters that often accompany regular coffee, making it a gentler option for those sensitive to caffeine.

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Adaptogenic Drinks

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Adaptogenic beverages, which include ingredients like ashwagandha, reishi, and maca, are designed to help the body adapt to stress and promote mental clarity. These drinks can provide a sustained energy boost without the crash, supporting productivity throughout the day. They are often made with superfoods and spices that enhance both physical and mental performance.

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Golden Milk (Turmeric Latte)

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Golden milk, made from turmeric, ginger, and milk (or a milk alternative), is a caffeine-free option that can improve mood and reduce inflammation. The calming properties of this drink can help maintain focus and clarity, making it a great addition to a productive morning routine.

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Chicory Root Coffee

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Chicory root coffee is an excellent alternative that satisfies the desire for a warm beverage without caffeine. It is rich in inulin, a prebiotic fiber that aids in digestion and promotes gut health by supporting beneficial bacteria. Chicory coffee has a nutty, earthy flavor and can help control blood sugar levels, contributing to overall energy and productivity throughout the day.

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Yerba Mate

Image Source: Guayaki Yerba Mate

Yerba mate is a traditional South American herbal tea made from the leaves of the Ilex paraguariensis plant. It contains about 40-80 mg of caffeine per serving, which is less than a standard cup of coffee but enough to provide a gentle energy boost. Yerba mate is rich in antioxidants, vitamins, and minerals, and users often report feeling energized without the jitters or crashes associated with coffee. It has a unique, slightly bitter flavor and can be enjoyed in various forms, including loose-leaf tea and pre-brewed options.

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LA’s Data Center Supply Crunch

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Happy Friday Los Angeles!

The Los Angeles data center market is experiencing a significant supply crunch, ranking 12th in growth among top markets since 2020 with only 265 megawatts of colocation inventory (data centers where businesses rent space to store their computing hardware and servers). Despite this, demand is surging, driven by AI, cloud, and hyperscaler needs, with AI accounting for 20% of new data center demand nationally. This scarcity is creating a highly competitive environment, with vacancy rates at a record low 3% and asking rents rising 13-37% year-over-year. For Los Angeles, this presents both challenges and opportunities in the big picture. The city's strategic position as a global entertainment hub and its connectivity to international markets through subsea cables make it an attractive location for data centers. However, the limited inventory and rising costs could potentially hinder growth and innovation in the tech sector. To maintain its competitive edge, Los Angeles will need to address these constraints through new developments, such as GI Partners' 16 MW addition at One Wilshire, and by focusing on high-connectivity, high-power capacity submarkets. The city's tech community should prepare for a landscape of increased competition for quality data center space, higher costs, and the need for innovative solutions to meet growing demand, particularly in AI and cloud services. While Los Angeles faces a challenging data center supply crunch, its strategic advantages and ongoing developments offer a promising path forward.


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