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from the article: "...according to investors, founders and businesses with ties to the region." seems to confirms my bias that this is based more on hopes and d
by yellow_postit 2y ago
from the article: "...according to investors, founders and businesses with ties to the region." seems to confirms my bias that this is based more on hopes and dreams than reality.
NYC wants to be seen as a hub for tech startups, but they aren't. There's lots of great investment there, especially for building around stuffy old-business workflows, but its not exactly an innovation R&D center and that's ok.
But yes, I'm sure more funders in NYC would love a greater slice of the VC pie that's been historically over-allocated to SF.
- pclmulqdq 2y agoHaving now been around the NYC startup scene a bit, it's a very different scene than SF and others. NYC's scene really focuses on product companies and companies that fit into finance and big company workflows. Aside from Google, Facebook, and the finance industry, there's very little R&D in many of these companies. NYC's history with IBM and Bell Labs means that it's also not a terrible place for some technical infrastructure companies. It's not surprising to have a bunch of AI there, because most of the AI scene is sort of perfunctory technical infrastructure around hosting Nvidia GPUs (Lambda, Coreweave, etc.) and end products. New York was also a great place to host GPUs and ASICs for cryptocurrency mining 5 years ago, incidentally, and there is a lot of infrastructure both in terms of datacenters and old industrial plants that can be converted into datacenters.
- deleted 2y ago[deleted]