So has california lost its edge in venture capital investment to texas or florida or [fill in the blank flavor of the month here]?

I keep reading these stories like this and this and this and this about how California is losing #SiliconValley to low-tax states like Florida and Texas and [fill in the blank flavor of the month].

So what do the data show?

They show California’s dominance in tech investment is so large that whatever gains Texas or Florida might have made in the last few years don’t even register on my chart.

California has attracted more than 50% of the trillion-plus dollars invested in the last 15 years (see chart above); and far from losing its dominance in tech in 2020, California’s share of total US venture capital investment rose to its second-highest level in 15 years of data.

See below: