In recent years Los Angeles has become a major force in innovation. Hollywood’s storytelling roots, production expertise and talent pool have intertwined with technology to become the largest audio, video and VR hub in the world. In turn new social media influencers, who have larger and more loyal followings than traditional celebrities, bring a whole new value chain to the industry. Media giants are innovating with new business models and lines are blurring between traditional studios such as Disney and Dreamworks, and new well-funded entrants such as Quibi and Vertical Networks.
Aside from Hollywood Los Angeles has a history of innovation in other industries such as space exploration. It is home to NASAs R&D centre, the Jet Propulsion Laboratory, Northrup Grumman's 110-acre campus housing their most innovative and influential aerospace designs, and of course SpaceX, the first private space company in decades that has dramatically changed the economics of space exploration and wants too set up a colony on Mars.
This is without touching on other successful companies that have originated such as Bird, the fastest company to reach a billion-dollar valuation, Snapchat, Riot Games and Dollar Shave Club.
So whilst there are other innovation hubs around the world - Silicon Valley as the origin of big tech; the ‘Start-Up Nation’ of Israel which has more startups and VCs per capita than any other country; & London’s 'Silicon Roundabout' - Los Angeles is finding specialisations at the cross-section of industry and technology.