Venture capitalists from Silicon Valley have been making their way into "flyover" country, looking for companies in which to invest. The pull? The arrogance of Silicon Valley startups, the political echo chamber (i.e., groupthink) of the San Francisco area, and the high cost of living and rentals (both for the employees and the companies).
I found this comment interesting: "When you invest in a San Francisco start-up, 'you’re basically paying landlords, Twilio, and Amazon Web Services...'." In other words, VCs are realizing they are not investing in the software or the systems or the product development with startups located in Silicon Valley.
The high cost of living means VCs' money is going towards paying landlords for commercial property rentals, and to and employees' high salaries so they can afford to rent a box. VCs want their money to go into software, products, and services not landlords.
What does this mean for your business? You can grow your business from anywhere. I prefer to work in person with people, but you can build an entire company with remote workers, whether you are in a city or in a rural area. Your clients and customers? They, too, can live almost anywhere when you have an online business. In other words, no excuses. Just do it.