“The world is a better place if there are more hubs, more pockets of excellence, wealth, knowledge, advancement, innovation, than just California.” Luca Ferrari said that on stage at Endeavor’s Catalyst Investor Meeting in London, talking about a decision he made over a decade ago: keeping Bending Spoons in Milan instead of moving it to Silicon Valley once the model started working. In 2013, a group of founders in their twenties had $40,000 left over from a startup that failed. A year in, they spent $10,000 on their first acquisition. Then they kept going: Evernote, Vimeo, AOL, WeTransfer, Eventbrite, and dozens of other iconic apps that had started to fade. Yesterday, that company went public. Bending Spoons debuted on Nasdaq at an $18B+ valuation, still headquartered in the same city where it started. We selected Bending Spoons into the Endeavor network in 2019, back when keeping the core team in Milan looked like a bet against every rule of scaling tech. It’s one of the clea...