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I don't think your perspective is valid anymore - in the mid-2000s USV was the only game in town, but today there's probably 5-10 good size NYC-based VCs focusi
by mattzito 11y ago
I don't think your perspective is valid anymore - in the mid-2000s USV was the only game in town, but today there's probably 5-10 good size NYC-based VCs focusing on tech, tons of little firms (<$100m funds), and many other SV firms with a NYC presence, and then the whole second order of NYC investors in PE or funded from a vertical perspective (like real estate investments, etc.).
- cloudjacker 11y agoJust look at the funding numbers between different areas. NYC still pales from an infrastructure perspective and general mentality of paying it forward, compared to SV.
- mattzito 11y agoOh sure, I'm not trying to compare NYC vs. SV directly, SV is clearly an order of magnitude larger. I was just comparing fundraising in NYC today vs. 10 years ago, and it's lightyears different. I can tell you from working with VCs, the whole attitude towards nyc startups is very different. As far as the general mentality of paying it forward goes, I've got a healthy sense of cynicism towards that (maybe it's the new yorker in me). I find successful individuals are equally supportive here as in the bay area, but in NYC there's a lot less of the ridiculous hustler optimism that technology can cure all ills, and fewer ridiculous startups get funded out here. But sure, yes, SV is much bigger than NYC, that's not in doubt.
- jba 11y agoYeah, a lot of big bay-area and boston funds now have NYC offices too. General Catalyst - mentioned as being based in Cambridge in the article has an office on Lafayette street in NYC now with a couple of partners in it. This has changed the funding game more than the homegrown VC's (USV, as an example).