Lecture 11: Company Culture and Building a Team, Part 2

One of the readings [1] and some responses in this lecture emphasize friends of friends as the main outlet for first hires until a startup is successful enough to attract more talent. Many (most?) startups are based in SV. Do most initial hires come from those in the founders' network who already live in the Valley?

Other than recruiting at universities, has there been any other successful outlets for talent that isn't already part of the SV bubble? From what I've read, it seems poaching is very common there. Is that because there is a lack of quality developers and surplus of mediocre ones, or a lack of developers overall who are located in or will relocate to SV?

It just seems to me that the SV bubble is such a small sample (even with a higher density of talented people congregating there), and so much of the world's talent remains unnoticed and ignorant of the opportunity there. If I'm mistaken and anyone more familiar with hiring in SV can provide insight, then I'd greatly appreciate it.

[1] http://blog.samaltman.com/how-to-hire

Is there a collection of transcripts for these videos?