Not sure about the OPs case, but usually it is when you care about investors' money more than the company/product.
Apropos that you're saying that on a social media platform run by a Venture Capital company out of Mountain View but your statement is a pretty damn cynical view of it. California may the epicenter of tech related VC but it's also the startup and tech company capital for plenty of other reasons besides VC such as the amazing local culture, awesome weather, friendly legal environment (e.g. CA's strong anti-SLAPP laws), experienced local hiring pool, state & municipal tax benefits, etc.
We were in the online-video space, which made sense to be based in LA.
Our investor was also based in California, which made sense to leverage his network there to raise subsequent rounds of funding.