5 ms·
Not generally. The good stuff will stick around. The stuff that isn’t as good wont. Most cities are about change, and while nostalgia is great, cities that loo
by addicted 8y ago
Not generally. The good stuff will stick around. The stuff that isn’t as good wont.
Most cities are about change, and while nostalgia is great, cities that look the same as they did 20 years previously usually are not successful cities.
The reason is simple. Cities tend to attract younger folks. As the generation of people they attract changes, the tastes they need to cater to also changes.
- achileas 8y agoTimespan matters. If businesses repeatedly don't do well, yes you get your 'fun' upper middle class variety, but the people trying to get a foothold and start businesses will fail and, with the lack of a real safety net, likely not open up further businesses. If that becomes the majority of small business owners in an area, wave goodbye to your 'fun' variety, small businesses, and hello to becoming Cleveland. I'm lucky that when my family came to America, it was still possible (and, more importantly, probable) to open a small business and build enough up to send your kids to college, expand your business, etc. Now, in order to be successful, you have to buy the property your shop is in too as a hedge against a downturn in business (more important in places with seasons when foot traffic declines), which reduces opportunity to entrepreneurs with fewer resources.
- bpicolo 8y ago> The stuff that isn’t as good wont Tons of good stuff closes in Manhattan.
- malandrew 8y agoSan Francisco too. Three of my favorite restaurants closed in the last year.
- boomlinde 8y ago> Not generally. The good stuff will stick around. The stuff that isn’t as good wont. Only to the extent that good and profitable overlap.