https://techcrunch.com/2020/02/20/spacexs-spin-out-startups-are-helping-build-las-startup-ecosystem/

During the days when Snapchat’s popularity was booming, investors thought the company would become the anchor for a new Los Angeles technology scene.

Snapchat, they hoped, would spin-off entrepreneurs and angel investors who would reinvest in the local ecosystem and create new companies that would in turn foster more wealth, establishing LA as a hub for tech talent and venture dollars on par with New York and Boston.