Silicon Beach

Silicon Beach is the Westside region of the Los Angeles metropolitan area that is home to more than 500 technology companies, including startups. It is particularly applied to the coastal strip from Los Angeles International Airport north to the Santa Monica Mountains,[1] but the term may be applied loosely or colloquially to most anywhere in the Los Angeles Basin. Startups seeded here include Snapchat[2] and Tinder. Major technology companies that opened offices in the region including Google, Yahoo!, YouTube, BuzzFeed, Facebook, Salesforce, AOL, Electronic Arts, Roku, Sony, EdgeCast Networks, MySpace, Amazon.com, Apple, Inc., and Netflix.[3] By some 2012 metrics, the region was the second or third-most prominent technology hub in the world.[4][5] In the first six months of 2013, 94 new start-ups in Silicon Beach raised over $500 million in funding, and there were nine acquisitions.[6]

The area offers relatively easy access to LAX (Los Angeles International Airport), the biggest and most connected airport in western North America.[7]

As in the San Francisco Bay Area, the influx of technology companies has boosted home and office rents and real estate prices in Playa Vista, Playa Del Rey, Westchester, Santa Monica, and Venice, already high previously due to beachfront location. The effects are also spilling over into Marina del Rey and Hermosa Beach.[8]

Start-up pockets have also emerged in nearby Culver City, West L.A., and El Segundo.[9] Other pockets include Downtown Los Angeles, Beverly Hills, Hollywood, Glendale, and the San Fernando Valley.[10][11] The tendency of companies to congregate in these centrally located, high income areas has raised concerns[12] about the feasibility of racial minorities joining the workforce, as they tend to live in further outlying areas.[13]

Silicon Beach is also home to start-up incubators and accelerators, such as Amplify.LA, Science, Disney Accelerator, TechStars, and Cedars Sinai.[14]

The Los Angeles metro area was home to 88,000 engineers in 2021, the highest number of any metro area in the United States.[15][16] Higher education institutions in Los Angeles County graduate 6,600 engineering majors a year, the highest of any county in the United States.[17]

Higher education institutions headquartered in Silicon Beach include Loyola Marymount University and Otis College of Art and Design.[18] Other higher education institutions in the nearby Southern California region or with satellite campuses in/nearby Silicon Beach include: Pepperdine University, Santa Monica College, Art Center College of Design, California Institute of Technology, University of California Los Angeles, University of Southern California, Occidental College, Cal State L. A., Cal State Northridge, Cal State Long Beach, Cal State Dominguez Hills, Cal Poly Pomona, and the Claremont Colleges.

List of technology companies based in Silicon Beach

Other uses

  • 1983: PC Magazine reported that "some people are starting to call" Boca Raton, Florida—where IBM had developed its Personal Computer, and other technology companies had facilities—"Silicon Beach, in deference to the great valley of the West".[38]
  • 1984: Silicon Beach Software was formed in San Diego, California.[39]
  • 2008: Silicon Beach Australia was used[40] to describe the country's tech industry, including startup hubs in Sydney, Melbourne, Brisbane, and Perth.[41]

References

  1. Anne Machalinski. Los Angeles Tech Scene Expands Beyond Silicon Beach Barrons, May 22, 2019, retrieved 2019-07-23^
  2. Daniel Hernandez. Snapchat's Disappearing Act Leaves Venice Beach Searching for Its Future The New York Times, 2019-08-23, retrieved 2019-08-24^
  3. Google, Netflix, Amazon, and Apple are planning on becoming millionaires of a different kind 16 January 2019^
  4. Startup Genome Ranks The World's Top Startup Ecosystems: Silicon Valley, Tel Aviv & L.A. Lead The Way TechCrunch, 2012-11-20^
  5. Silicon Beach emerges as a tech hotbed USA Today, 2012-07-15^
  6. Over $500M Raised by 92 LA Startups in the First Half of 2013^
  7. Sonja Sharp. 'I'm not even 30, and I'm flying my own jet' — Silicon Beach elites take a seat in the cockpit Los Angeles Times, 2019-08-21, retrieved 2019-08-21^
  8. Logan, Tim (January 2, 2015) "Buoyed by Silicon Beach, Westchester enjoys a housing surge" Los Angeles Times^
  9. Andrew Khouri. Bixby Land's $49-million office building sale a sign 'it's not the old El Segundo' Los Angeles Times, January 15, 2016, retrieved 16 January 2016^
  10. Andrea Chang. Tech scene takes hold in revitalized downtown L.A. Los Angeles Times, March 7, 2015^
  11. Neal Ungerleider. Why A Subway-Building Binge Could Transform L.A.'s Tech Culture Fast Company, October 31, 2014, retrieved 28 December 2015^
  12. Quoctrung Bui, Claire Cain Miller. Why Tech Degrees Are Not Putting More Blacks and Hispanics Into Tech Jobs The New York Times, February 25, 2016^
  13. Haya El Nasser. Job sprawl hurting minorities and the poor in suburbia america.aljazeera.com, April 29, 2015, retrieved 2019-08-21^
  14. A list of top LA accelerators and incubators 17 May 2013^
  15. America's Engineering Hubs: The Cities With The Greatest Capacity For Innovation Forbes, 13 Jul 2013^
  16. May 2021 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates Los Angeles-Long Beach-Anaheim, CA^
  17. Engineering datausa.io, retrieved 26 June 2023^
  18. Staff. Silicon Beach: The Next Wave LMU Magazine, Loyola Marymount University, June 2018^
  19. Natalie Gagliordi. Opera Software acquires AdColony for up to $350 million ZDNet, retrieved 2019-01-08^
  20. Google Cloud acquires cloud identity management company Bitium TechCrunch, September 26, 2017, retrieved 2019-01-08^
  21. Dan Primack. Unilever Buys Dollar Shave Club for $1 Billion Fortune, 19 July 2016^
  22. Ryan Lawler. Digital Display Startup Enplug Raises $2.5 Million Seed Round TechCrunch, AOL, April 17, 2014, retrieved 21 May 2014^
  23. Samantha Smith. LA Startup Goes from 0 to 100mph In Three Months Forbes, retrieved 22 May 2014^
  24. PayPal Completes Acquisition of Honey PR Newswire, January 6, 2020^
  25. Tom Taulli. Why PayPal Paid $4 Billion For Honey Science Forbes, retrieved 2020-01-28^
  26. Jay Peters. PayPal acquires the company behind the Honey deal-finding extension for $4 billion The Verge, 2019-11-20, retrieved 2020-02-25^
  27. David Curry. Hulu Revenue and Usage Statistics (2023) Business of Apps, 24 May 2023^
  28. Nathan Heller. Is Selling Shares in Yourself the Way of the Future? The New Yorker, 2022-07-25, retrieved 2024-11-04^
  29. Lauren Sherman. Can Nasty Gal Be Saved? BoF, 26 May 2017^
  30. Honey's Billionaire Founder Buys $60 Million Bel Air Mega-Mansion 11 March 2020^
  31. Dennis Green. Amazon's $1 billion acquisition of the doorbell-camera startup Ring is the company doing what it does best — and it should terrify every other retailer Business Insider, retrieved 2019-01-08^
  32. Todd Spangler. Scopely Valued at $1.7 Billion After $200 Million Round, With Mobile Game Company's Sights Set on M&A Variety, 29 October 2019, retrieved 2020-05-29^
  33. ServiceTitan, Software Provider For Tradespeople, Reaches $8.3 Billion Valuation Forbes, 26 March 2021, retrieved 16 September 2022^
  34. SNAP Key Statistics finance.yahoo.com, retrieved 2017-03-20^
  35. Funderbeam www.funderbeam.com^
  36. TrueCar, Inc. Common Stock (TRUE) NASDAQ.com^
  37. These Young Founders Give Cannabis Brands The Opportunity To Market Directly To Consumers Forbes, 2018-09-27, retrieved 2020-02-28^
  38. Porter, Martin. The Talk of Boca PC Magazine, November 1983, retrieved 22 October 2013^
  39. Hill, Ryan (February 4, 2016) [www.triton.news/2016/02/813/ "San Diego is bringing back Silicon Beach"] [The Triton]^
  40. Renai LeMay. Silicon Beach Australia ZDNet, July 28, 2008, retrieved 2013-05-30^
  41. Alan Kohler. Australia's "Silicon Beach" is no Entrepreneurs Paradise The Drum, ABC, November 21, 2012^