As someone who works remotely most of the time, I agree.
I've also started several companies that were mostly or partially distributed. Getting funding for those is sometimes awkward depending on the investors. Most VCs in particular are pretty skeptical of remote work, especially if any of the founders are remote. Even VCs who have funded well known distributed companies tend to be a little hesitant.
Another issue is that later rounds of investment are really difficult if you don't have traction as the VCs will scrutinize everything you do that doesn't look normal, and distribution of people is apparently pretty off the charts.
YC is itself a good example. Everyone must co-locate to San Francisco at the same time. 500startups is the same way. At least in the case of incubators, the centralization is temporary, but I have no idea if there is pressure to co-locate post-YC. Perhaps someone who is post-YC can offer some similar experiences.
I like to call this the "work theater" factor. Some people like to be able to see the work "being done." A large office stuffed with people makes the company seem more "real."
To that end, the (preferably open-plan) office is a set designed to demonstrate that "work is being done here" and everyone required to arrive at 9:00AM to type into their company provided computers during normal business hours are extras on the set.
I've also started several companies that were mostly or partially distributed. Getting funding for those is sometimes awkward depending on the investors. Most VCs in particular are pretty skeptical of remote work, especially if any of the founders are remote. Even VCs who have funded well known distributed companies tend to be a little hesitant.
Another issue is that later rounds of investment are really difficult if you don't have traction as the VCs will scrutinize everything you do that doesn't look normal, and distribution of people is apparently pretty off the charts.
YC is itself a good example. Everyone must co-locate to San Francisco at the same time. 500startups is the same way. At least in the case of incubators, the centralization is temporary, but I have no idea if there is pressure to co-locate post-YC. Perhaps someone who is post-YC can offer some similar experiences.