Despite the flourishing of work from anywhere during the pandemic, it still matters where a startup is located. That's because, as I wrote in Startup Cities, regions of the world differ in the vitality of their local Startup Commons -- a collection of regional resources that at best provide an irresistible attraction for capital and talent or at worst repel both.

This comes to mind in considering the flow of venture capital around the world in 2021. A striking conclusion is that on a per capita basis, capital flows into Israel were a whopping 28 times more than those in the U.S. READ MORE