Submitted this mostly because I think it's an idiotic way of thinking. As an example, I'm contemplating moving to Austin to springboard what I hope to turn into an industry leading content/media business for several reasons:

-I don't have a developer's, investment banker or lawyer's salary to fall back on while I learn to code and/or fiddle around. Any consulting I do, I'd have to do more of living in SF or NYC, which takes time from building the business. Any savings I have gets eaten up faster in SF or NYC and lessens my runway. That's reality.

-I don't need to look for a developer/technical co-founder in order to get started. My Wordpress instance is up and I just write.

-I don't have a trust fund or a rich uncle to mooch off of to help subsidize a lifestyle in either SF or NYC. My parents live on social security and aren't coming to my rescue.

I can understand the point of it not making sense for an already growing (read: revenue producing) startup to move to a cheaper locale. That I get. But I fail to see how you're not aiming high enough by starting out somewhere cheaper. Once you're making enough to where you aren't worried about where your next meal is coming from, then sure, move to SF or NYC. But the argument for not starting it in a cheaper place is flimsy at best and outright bullshit at worst IMO.