Following the dramatic fall of FTX and its young founder Sam Bankman-Fried, which blindsided investors, some might argue that it’s time for venture capitalists to pay more attention to entrepreneurs in overlooked communities across the country who are building the new American dream.
Over the past decade, nearly 75 percent of venture capital has gone to traditional tech hubs in California, New York, and Massachusetts. But this trend is steadily changing, according to Steve Case, co-founder and former CEO of America Online (AOL).
After leaving AOL in 2005, Case launched his investment firm Revolution to back entrepreneurs with growth, venture, and seed funds. His Revolution Growth fund, for example, has invested roughly $1 billion in growth-stage startups such as Sweetgreen, Tempus, Tala, and DraftKings….