read more. : Startups have been disproportionately affected by the Federal Reserve's hawkish plans, as rising interest rates stumped the growth rates of newly formed companies. The collapse of Silicon Valley Bank was also a black swan event for startups, causing newly minted companies to wither. But the latest trend evident in the startup industry is the shift from Silicon Valley to the Big Apple as people try to monetize the city that never sleeps. The San Francisco Bay Area has long been coveted as the go-to spot for startups, thanks to ready access to skilled labor and funding availability.