On average, New York based tech startups will spend less on travel and expenses than Silicon Valley startups. This is primarily due to the spending habits of California startups, as on average they spend 1.4 times what a New York startup would. Uber and Lyft are the only exception.
Most people compare tech startups on the east and west coast to the amount of funding they have, but in reality they conduct business and spend the expenses quite differently. Average Uber expense travel cost in New York is roughly twice of what it is in California. The cost difference is usually due to parking expenses (which are higher in California), and local travel. California spends more on flight, on average.
Here are some specifics from Abacus: on average, CA spent 1.4 times the amount of money on travel expenses, compared to New York. New York, on the other hand, spent almost five times what California spent of Facebook advertisements. The hotel stays aren’t such a big difference, as usually they only vary around 5% from California to New York. The average salary in California is higher than New York, and in general California has more venture capital then New York as well.
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