Salesforce Ventures’s John Somorjai warns N.C.’s politics could dampen its tech hub potential
North Carolina has been rising as an entrepreneurial hub. It’s now home to massive deals, like IBM buying Red Hat for $34 billion and Fortnite maker Epic Games raising a landmark $1.25 billion, both which helped to put the state — and the Triangle region, in particular — on the map. And now it’s just minted another unicorn with Pendo’s last fundraise. But its tech hub potential can still be threatened by the state’s political swings, said Salesforce Ventures head John Somorjai, who spoke today at a tech event in Durham.
On a panel at Bull City Venture Partners’ Entrepreneurs’ Series 2019, Somorjai reminded the audience that investment in the state follows the talent. And a state can’t attract talent when it’s not “welcoming to all people,” he said.
North Carolina has had a difficult history on this front, if you recall.
In 2016, PayPal canceled plans to open a global operations center in Charlotte after N.C. passed the controversial (“bathroom bill”) law that prevented cities from creating non-discrimination policies based on gender identity. The state lost 400 potential jobs, as a result. Over 100 other companies, including Apple, Google, Twitter, Facebook, eBay, Uber, and others also asked the state
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