Silicon Valley has placed at the top of the global startup ecosystem ranking since it was launched, and the ecosystem emerged from the pandemic with its dominance intact. Despite the 2023 Silicon Valley Index stating that 91,000 people departed from the hub over the past two years (the highest number since the dot.com bust), and that there “is no longer a significant influx of people from other places,” it also notes that Silicon Valley added 88,000 jobs between mid-2021 and mid-2022, and that an estimated 22,000 jobs were added in H2 2022. The landscape may be changing, but Silicon Valley’s established reputation, access to funding, high level of knowledge, and connections all contribute to it maintaining its status as the leading tech startup hub.

Research shows that layoffs are often followed by booms in entrepreneurship and efforts to catalyze this process are already underway in Silicon Valley, with support services stepping in to assist. One example is early-stage VC fund Day One Ventures launching a new initiative to fund startups founded by people laid off from tech jobs.

Ecommerce platform Weee announced a $425 million Series E in February 2022, bringing its valuation to $4.1 billion. Tech-enabled homebuilding company Veev announced a $400 million Series D in March 2022. Cloud security startup Netskope raised $401 million in January 2023. The Women of Silicon Valley conference took place in May 2022, and Emerging Tech Expo, a two-day summit, took place the same month. TECHSPO Silicon Valley takes place each summer.