The previous year, Chamath Palihapitiya, a major start-up investor and part owner of the Golden State Warriors, made his SF-centrism explicit: "The center of power is here, make no mistake.... It's becoming excruciatingly, obviously clear to everyone else that where value is created is no longer in New York, it's no longer in Washington, it's no longer in L.A. It's in San Francisco and the Bay Area.... Because markets value meaningful events, markets discount meaningless events. And so the functional value of the government is effectively discounted to zero."