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New York grows tech scene but doesn’t want to become another Silicon Valley

New York grows tech scene but doesn’t want to become another Silicon Valley

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Contributions

  • I built and sold two startups in NYC and when I introduce the entrepreneurial town to people, I always start by citing an old Irish joke. “Why do the Irish fight each other? There is no one better to fight.” In SF, tech is the only game that matters and so those that play it eat each other alive: for

    I built and sold two startups in NYC and when I introduce the entrepreneurial town to people, I always start by citing an old Irish joke. “Why do the Irish fight each other? There is no one better to fight.” In SF, tech is the only game that matters and so those that play it eat each other alive: for talent, for attention, for scale. It is piranhas alone in a tank.

    But the virtue of NYC is that tech isn’t the only thing. Finance is more than happy to siphon off our bad actors who care about money above all. Fashion and design keep plenty of creatives in the mix. It is precisely that tech isn’t the only game that keeps NYC’s tech ecosystem healthy.

    That inherently limits the size of our ecosystem. If it gets too big, it will start to take on the competition of SF and drive out much of what makes it successful, thus self-limiting the system. We need SF as a place for some to go (and to have a West Coast hub) but NYC is special and must fight to stay that way.

  • It never will. NYC will never be a one industry town. That idea repels some entrepreneurs and attracts others. If you want to create in a bubble go to SV - in NYC you cannot do that.

  • On the eve of Peter Thiel abandoning/fleeing Silicon Valley for LA and Silicon Valley reporters reporting the end, New York entrepreneurs aren’t shy to toot their horns. But we have a lot to do in NY to support innovation that COUNTS - like improving the MTA and subways not putting makeup ads in subways

    On the eve of Peter Thiel abandoning/fleeing Silicon Valley for LA and Silicon Valley reporters reporting the end, New York entrepreneurs aren’t shy to toot their horns. But we have a lot to do in NY to support innovation that COUNTS - like improving the MTA and subways not putting makeup ads in subways. We also need to have more exits like Flatiron health to infuse wealth into the entrepreneurial ecosystem and build confidence

  • How sustainable is this? According to recent literature on the subject, kinds of firms tend to be bound together by its peripheral industries, and unless NYC is a replica for all the kinds of peripheral industries Silicon Valley offers, this might be a temporary case of reckless abandon.

  • NYC might not be the next Silicon Valley yet. But major campuses are already forming in some of the city’s most desirable neighborhoods. Facebook and IBM have a large presence in Astor Place / Union Square, and Google and Twitter are growing in Chelsea. In NYC, where real estate is everything, the big

    NYC might not be the next Silicon Valley yet. But major campuses are already forming in some of the city’s most desirable neighborhoods. Facebook and IBM have a large presence in Astor Place / Union Square, and Google and Twitter are growing in Chelsea. In NYC, where real estate is everything, the big tech companies have crossed over the valley and out of the alleys.