A string of big acquisitions, public offerings, and a pipeline of growing young startup companies has venture investors saying “I love L.A.”
The recent acquisitions of Maker Studios and Oculus VR, as well as the planned public offering for TrueCar that’s finally going through, all point to a healthy investment ecosystem, but there’s still one industry that rules over Tinseltown: that’s entertainment.
“Our ecosystem has been building for the last 20 years and it is coming to a crescendo now,” said Mark Suster, a partner at the Los Angeles-based firm Upfront Ventures. “Americans watch 5.3 hours of television a day and they read less than a half an hour. You’re not going to change media consumption patterns [so] you’ll continue to see the rise of a tech ecosystem in L.A. because of the rise of TV and commerce and what that entails.”
Indeed, investors in the Los Angeles technology…
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