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L.A. tech economy is underrated, venture capitalist Peter Thiel says
L.A. tech economy is underrated, venture capitalist Peter Thiel says

The Los Angeles start-up economy seems destined to live in the shadow of Silicon Valley, but PayPal co-founder and venture capitalist Peter Thiel offered some fresh optimism to Los Angeles entrepreneurs and investors. The region's technology industry is the most "underestimated" in the nation, he said, and especially underrated relative to New York City. The shadow of Silicon Valley, he said, is a good place to be. What he has seen is Los Angeles' proximity to the Bay Area drive an exchange of workers and investors — himself included — that doesn't flow to far-off fellow mega-cities New York and London. "I'd definitely be short New York...

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