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From Bezos to Walton, Big Investors Back Fund for ‘Flyover’ Start-Ups

Accepted submission by Phoenix666 at 2017-12-05 16:09:17
Techonomics

Here comes Rise of the Rest [nytimes.com]:

For the past several months, there has been a torrent of press around how Mr. Case and Mr. Vance have teamed to try to revive entrepreneurship in what elites often derisively refer to as the so-called flyover states. As my colleague Steve Lohr wrote recently [nytimes.com], Mr. Case and Mr. Vance have been barnstorming various cities in a painted bus, holding entrepreneurship competitions as if they were politicians on the campaign trail.

But until now, at least to some skeptics, it seemed like a do-gooder vanity project.

How could these two men significantly change the dynamic among serious investors on the coasts to reorient their focus on cities, many of them suffering from the erosion of manufacturing, in the Rust Belt and elsewhere?

It turns out that while they were publicly crisscrossing America, they were also privately holding meetings with some of the wealthiest individuals and families in the country, urging them to not only invest in a new fund but become partners with some of the companies that will benefit from it.

"Flyover" isn't patronizing at all.


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