| francisco and the bay area first of all | 4.401 | Jump to 45.039 |  |  | 
              
                
                  | capital for most of the decades 75 | 3.52 | Jump to 63.84 |  |  | 
              
                
                  | just you know three states but we're | 3.68 | Jump to 67.36 |  |  | 
              
                
                  | our rise arrest busters in 44 cities our | 5.28 | Jump to 80.56 |  |  | 
              
                
                  | rise arrest seed fund has invested in 80 | 4.64 | Jump to 82.96 |  |  | 
              
                
                  | three particular points i think are | 3.679 | Jump to 158.56 |  |  | 
              
                
                  | interesting one is for the first time in | 3.839 | Jump to 160.48 |  |  | 
              
                
                  | 10 years the amount of venture capital | 4.321 | Jump to 162.239 |  |  | 
              
                
                  | going to the bay area is under 30 | 4.64 | Jump to 164.319 |  |  | 
              
                
                  | percent the second is in these other | 4.56 | Jump to 166.56 |  |  | 
              
                
                  | cities outside of the big the big three | 4.0 | Jump to 168.959 |  |  | 
              
                
                  | over the last 10 years there's been a | 4.16 | Jump to 171.12 |  |  | 
              
                
                  | 600 percent increase in venture capital | 4.961 | Jump to 172.959 |  |  | 
              
                
                  | from 4 billion 10 years ago to 24 | 4.56 | Jump to 175.28 |  |  | 
              
                
                  | billion dollars now and the third which | 3.44 | Jump to 177.92 |  |  | 
              
                
                  | 10 years 1400 new | 4.959 | Jump to 183.28 |  |  | 
              
                
                  | multi-billion dollar companies are | 2.8 | Jump to 230.56 |  |  | 
              
                
                  | steve is there one city that stands out | 4.239 | Jump to 238.56 |  |  | 
              
                
                  | just one is kind of asking like who's | 3.28 | Jump to 252.56 |  |  | 
              
                
                  | investing as i said we have 185 | 3.921 | Jump to 260.479 |  |  | 
              
                
                  | investments in 80 different cities | 3.921 | Jump to 262.479 |  |  | 
              
                
                  | alongside over 300 regional venture | 4.32 | Jump to 264.4 |  |  | 
              
                
                  | if you will which is one of the great | 2.961 | Jump to 309.199 |  |  | 
              
                
                  | when we started aol in 1985 only three | 3.68 | Jump to 417.28 |  |  | 
              
                
                  | should be i predicted this five years | 3.44 | Jump to 438.8 |  |  | 
              
                
                  | ago i wrote a book called the third wave | 3.201 | Jump to 440.639 |  |  | 
              
                
                  | 230 that was put in place when i was | 4.081 | Jump to 469.199 |  |  | 
              
                
                  | i've spoken to steve case in like 1990 | 5.44 | Jump to 487.12 |  |  | 
              
                
                  | web 3 whether it's some of the talk | 4.961 | Jump to 509.039 |  |  | 
              
                
                  | i've called the third wave of the | 2.641 | Jump to 523.599 |  |  | 
              
                
                  | those problems one company we back that | 3.52 | Jump to 551.2 |  |  | 
              
                
                  | focused that first way was getting | 3.44 | Jump to 570.56 |  |  | 
              
                
                  | kind of stuff the second way was really | 3.521 | Jump to 577.279 |  |  | 
              
                
                  | among them uh the third wave as i said | 4.08 | Jump to 582.64 |  |  | 
              
                
                  | interesting about this third wave well | 3.52 | Jump to 589.2 |  |  |