Hat tip to Tyler Cowen, here’s Paul Graham’s interesting idea: Graham starts from the notion that the default is for start-up hubs is failure, then he points to what makes the Valley a success. Money quote:
I think there are two components to the antidote: being in a place where startups are the cool thing to do, and chance meetings with people who can help you. And what drives them both is the number of startup people around you.
I was just mentioning to Tyler that perhaps the problem with DC is that here, the cool thing is a job from the Plum Book.