Good for them. I'm not going to pretend I'm actually in a place where I even have the ability to make the choice that these founders made, but I've been reflecting deeply on whether I will seek VC support in the future, and I'm pretty set against it. At least I'm set against any VC's based in SV.
I don't think they're bad people or anything, and even quite like some individuals who work for VCs. But the way they operate, seems to perpetuate monoculture and wealth inequality. I know first-hand there are brilliant, ambitious people outside of the SV/NYC bubble, and I don't think VCs really give any care about those people besides perhaps offering to pay to relocate them. As a result, the mindset of these VC people is increasingly isolated from the nation and world as a whole. I've read so many stories about how they are encouraging diversity by funding immigrants who went to Stanford, as if race/sex/nationality is the whole picture. Where are the founders who grew up in trailer parks or projects? Who speak with a noticeable apppalachian, southern, or AAVE accent? Who worked their butts off in the military and community colleges/state colleges, because those are actually the most accessible doors to learning for Americans not from privileged backgrounds? Where are the people who want to build things, but value their family, extended families, local and religious communities more than the promise of extreme wealth in in a few select cities?
Those people are out there, and they are capable and ready. I know it's still just talk, but very soon, I'm going to put my money and my body where my mouth is and return to NC. I'm going to build things with those people. If by good fortune we see success - the money won't go towards making rich californians richer.