In world where many people can work from anywhere, there is still a lot of value in being based in a geographic ecosystem like Silicon Valley or on a smaller scale Stockholm. Physical proximity to employees, peers, partners, experts, universities and investors increase access to knowledge, capital and talent. Which all are very valuable.
Somewhat related, it is easy to think that it is a bad thing that a high share of Swedish venture investments go to companies based in Stockholm. But given the value of ecosystems there are good reasons for promising Swedish startups to establish their offices in central(‘ish) Stockholm (and it is not the weather).