Venture Capitalist: Michigan primed for economic recovery

on Oct 04 in Related stories

Five One-Way Tickets to Michigan, Please
By: Jeff Bocan
The Huffington Post, September 23, 2009

As a venture capitalist in sunny (and smug) Santa Monica, who happened to often travel to Michigan, I’d heard every possible joke and put-down about the Michigan economy (you know, how it’s cheaper to buy a foreclosed house in Detroit than a decent used car, but at least you can live in the car if you have to, ha ha ha.) Well, I’m not laughing any more. This summer, I decided to move my wife and three little kids away from the sunny beaches and new media millionaires of Southern California to — you guessed it — Michigan.

Yup, we bought a one-way ticket to Michigan. Five of them, actually.

What was I thinking? Don’t worry, you’re not the first to ask. For several months I’ve been explaining my decision to friends, family and work colleagues. Why walk away from good weather and a sweet gig investing in new media companies for a cold, Rust Belt state that’s been hemorrhaging jobs and hope for decades?

Quite simply, because I believe it’s a hell of an opportunity — despite the jokes, the put-downs, or the perceptions of Detroit as a lost city — I wouldn’t be moving to Michigan if I didn’t.

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