Steve Case, founder of AOL, predicts the dominance of tech companies on the coasts will give way to a flourishing of startups from smaller cities.
many billionaires on buses. But that proletarian rolling stock became a favorite of Steve Case, the founder of AOL and survivor of thein history, when he acquired Time Warner in 2001. Beginning in 2014, Case, now an investor and philanthropist, led eight bus tours into the US interior, rolling his bright red motorcoach—packed with investors and guest entrepreneurs like Tory Burch, Mike Bloomberg, and Ted Leonsis—into cities like Detroit, Boise, Chattanooga, and Omaha.
Case logged 11,000 miles on his bus tour, until the pandemic put a stop to it, visiting 43 cities. In each one, he met with local leaders and investors, toured local enterprises, and held a-style pitch contest, sinking $100,000 into the most promising startup. Case’s own venture company, Revolution, also started a $150 million investment fund in 2017 to seed regional startups. It did a second fund in 2019.
Steven Levy: When you first started talking about the Rise of the Rest, people thought it was a folly. Now you’re claiming vindication. Where’s the proof?We’re not popping the champagne quite yet, because there's still a lot of work to do. But this time does remind me of those early days of the internet. When AOL got started in 1985, only 3 percent of the population was online. People said it was crazy to think it would be a mass medium and everybody would be on the internet.
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