STARTUPS: The internet is supposed to mean we can start a business and work anywhere. Above a pizza shop maybe, the garden shed or the tiny spare room? And yet it seems Silicon Valley remains the place to be or, at least, that’s what the cost of an office would suggest. Read more on Wired
The internet’s promise of instant global communication was supposed to free businesses from the constraints of geography. But judging from a new survey of the tech real-estate market, the industry that birthed the internet is still very much tied to its place of origin: Silicon Valley.
As detailed in the latest annual tech real estate report from global real estate consultancy Jones Lang LaSalle, the tech industry imperative to locate in a small swath of Northern California is reflected in the soaring costs of real estate and talent.
The price of office space and skilled labor are both, in a word, bananas. Except to call these prices nutty would be to imply that they’re irrational—which may not be the case.
NB: Silicon Valley map image via Shutterstock.