I’m still fuming about how Philadelphia managed to lose the annual four-day millennial entrepreneur-fest last week after hosting it the previous two years. Organizers said they were decamping to Boston in October after they were unable to reach an agreement with the city to commit $2 million in private sponsorship to the event.

A spokeswoman for Mayor Kenney told The Philadelphia Inquirer that the fundraising potential for the Forbes’ event looked difficult because a lot of would-be donors were already being “tapped” to help support the Democratic National Convention here this summer.

The Greater Philadelphia Chamber of Commerce said the Kenney administration did not reach out to it, according to the Inquirer.

In any case, the ball got dropped. Do you mean to tell me that Comcast, venture-capital firms and other tech-centric businesses in the region couldn’t have come up with $2 million? Seriously? Are we that lame we can’t support a political convention and the Under 30 Summit in the same year?

So, now Boston will get to host the summit, which will bring together more than 1,000 of the country’s most important young entrepreneurs and game-changers. “The collaboration of the Mayor, the Governor, Boston’s business and tech community, as well as our distinguished academic institutions, made this possible,” said David Fialkow, managing director of General Catalyst Partners, is a Forbes’ press release.

While Philly dithered, Boston collaborated. At a time when Philadelphia’s startup community is taking root and millennials are repopulating the city, the summit–which features an agenda of panels, TED-style presentations, keynotes and a global competition for young entrepreneurs–would have been really valuable exposure.

Consider the 2014 Under 30 Summit in Philadelphia, where Peter Thiel and Sara Blakely gave speeches. Thiel is arguably the most disruptive thinker in America who co-founded Paypal and was the first investor in Facebook. Blakely is the founder of Spanx and became a billionaire by age 40.

You can’t quantify the value of hearing directly from people like that, and I doubt that Thiel or Blakely spend much, if any, time in Philadelphia.

I mean, why would you want to attract the young, brightest entrepreneurs to your city from all over the country to hear from the likes of Peter Thiel and Sara Blakely. Philadelphia isn’t on the radar screen of national tech media that follow tech-savvy cities such as Boston which, by the way, has a much more robust and significantly better funded startup scene than Philadelphia.

So, yeah, I think losing the Under 30 Summit is a big deal. Boston ate our lunch, goddamnit!

It speaks volumes that Philadelphia still needs to change perceptions about itself. The summit helped to do that. The Forbes’ brand reaches more than 80 million people worldwide with its business message, which could have helped raise more awareness and buzz about the tech/startup scene in Philadelphia. After being the Summit’s inaugural host in 2014 and again in 2015,  Philadelphia should have “owned” it for years. Such things can be hard to measure but are often invaluable in the long term and probably worth far more than $2 million.