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I look forward to either disproving this, or being defeated by it. My stance is that great connectivity and communication (think google hangout) combined with cheap flights between Myrtle Beach and Boston can make it happen. Investors may be enticed by additional reasons to head to Myrtle Beach: golf, vacation, warmth.

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I think you're focusing on the wrong things.

VCs (largely) want solid personal relationships with their companies and that's something that's not happening over skype/hangout anytime soon. A few thousand dollars on flights also isn't a big deal when you're investing millions; time is much more important than money.

Your best bet would probably be to:

(1) Get solid local VCs who other (non-local) VCs are happy to co-invest with.

(2) Build thematic clusters, because a partner at a VC who's interested in multiple companies in an area is much more likely to fly out then for an individual company.

Strangely enough, the kind of immersive experience technology that Magic Leap is developing might just help with that problem.

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