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The great tech exodus: The Ethereum blockchain is the new San Francisco By Cointelegraph

The great tech exodus: The Ethereum blockchain is the new San Francisco

Remember the “Silicon Valley Tech Bubble”? In the early- to mid-2000s, the San Francisco Bay Area gave birth to some of the most storied and successful technology companies the world has ever seen. Facebook (NASDAQ:), Google (NASDAQ:), Salesforce (NYSE:), Twitter, Tesla (NASDAQ:), Lyft (NASDAQ:) — the list itself could take up half of this article. From the palpable energy to the networking potential, one thing was certain: San Francisco was the place to be.

For many, present-day San Francisco has lost its allure. Across the city, the cost of living continues to surge. The remaining inhabitants are cobbling together money to afford the egregiously high rates and are constantly browsing Zillow to see where the grass is greener. Suffice it to say, San Francisco has become unlivable for the working class and is no longer suitable, much less ideal, for many new and existing companies. Although it gave us early tech platforms, the overcrowded, overpriced locale clings to its reputation and the memory of what it once offered.

Alex Wearn is the co-founder and CEO of IDEX (NYSE:), a cryptocurrency exchange focused on performance and security. He has spent his career in software development, including time at a marketing analytics startup that was acquired by IBM (NYSE:) and as an analytics project manager for Adobe (NASDAQ:). Prior to IDEX, he led the product management efforts for Amazon (NASDAQ:) Logistics’ capacity planning. He has been working for crypto startups since 2014, transitioning to full-time with the launch of IDEX in 2018.