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Can anyone speak to why New York has become such a good locale for venture capital? I live in Seattle, and haven't really kept up with the state of things in Ne
by wanorris 15y ago
Can anyone speak to why New York has become such a good locale for venture capital? I live in Seattle, and haven't really kept up with the state of things in New York. Is it simply that the firehose of capital available there is being turned in a new direction, or are there other structural reasons why NYC is a great place to start a business?
- bh42222 15y agoI'm guessing it's the combination of firehose of capital and huge, densely packed population. And due to the computing needs of wallstreet there are quite a few skilled programmers around. Basically $ + hackers.
- mdda 15y agoIn the past, people have cited the presence of Wall Street being the thing that prevented the 'pure tech' startup scene from developing - since Wall St paid developers too well. The real eye-opener for me was how crowded and positive the Startup Weekend events have been in NYC : And the number of Meetups is staggering. It seems to me that some kind of critical mass has been achieved, and New York no longer feels like a staging area before moving to the Valley.
- maratd 15y agoOver the last few decades, NYC has seen significant gentrification and urban revival, particularly in parts of Manhattan and Brooklyn. This, with other factors, made it a very attractive place to live. This brought people. Talented people. The more talented people you have in a concentrated area, the more things 'happen' on a regular basis. It is a culmination of a multitude of factors that is only now bearing fruit. It isn't so much that new venture capital sources are fueling new business creation in NYC. More along the lines of new business creation attracting existing venture capital sources to NYC.