Santa Monica is becoming Silicon Beach
latimes.com
latimes.com
But LA also has Silicone Valley... http://en.wikipedia.org/wiki/San_Fernando_Valley#Adult_enter...
There's a big yellow ball in the sky making the place constantly warm, you can't get any work done!
But seriously: Founder of Caltech had the Pepperdine property and decided to put the school elsewhere so that more work would get done.
Or he's running out of runway. Or both.
The tech industry will make beachheads in various places and eventually be swallowed up and integrated into the industries that already dominate the area.
We pivoted and I left to focus on my own company in NY.
We often had meetings that involved major VCs and founders visiting the area. I left the company with the impression that Santa Monica rocks and is definitely "silicon beach".