We’re not gonna lie: We were a little shocked to see this outdated “investment advice” in 2021.

Hustle CEO and co-founder Sam Parr posted a Twitter thread this week perpetuating the myth that investors should exclusively invest in Bay Area companies.

Many venture capitalists answered back immediately, defending the huge number of Unvalley companies and underrepresented founders that would be missed if angels and VCs stuck to Parr’s investing equation.

Mac Conwell, Managing Partner at RareBreed Ventures, called the thread a “sad, sad narrative that exacerbates issues for underrepresented funders” and called on emerging managers to do better.

Others called the views narrow-minded, dangerous, and even “privileged garbage.” Clearly, venture capitalists are tired of being limited only to Silicon Valley ideas, and are excited to fund the next multi-billion dollar companies in cities like Denver, Indianapolis, Dallas, Atlanta, and beyond.

Here at Powderkeg, we’re happy to see opinions starting to shift, but Parr’s thread reminded us that there is still work to be done. Join us on LinkedIn and Twitter to continue this conversation.