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The problem isn't with investments (there's plenty of cheap money). It's that there are no huge exits. The city needs a "super-unicorn" technology company with
by applecore 12y ago
The problem isn't with investments (there's plenty of cheap money). It's that there are no huge exits.
The city needs a "super-unicorn" technology company with a multibillion-dollar valuation to mint a fresh crop of millionaires and enrich thousands of engineers. These engineers will go on to build the next big technology startups—without them, the city will remain indelibly tied to old money.
- saosebastiao 12y agoHuge exits may be a sign of success, but only in SV are they the only sign of success. Technology success and railgun-style startups are orthogonal.
- nickff 12y agoThe reason why huge exits are so important is that they are what the venture capital industry relies on. It appears that New York(ers?) is/are attempting to develop a VC funded entrepreneurship sector, which requires the existence of big exits.
- rahimnathwani 12y agoIs part of your point here that these engineers, having made a stack of money, will be more inclined to take a risk (to found/fund/build the next big thing)? i.e. that the reason the exit is important is less that it's a signal about what's possible, and more that it creates freedom for those who might otherwise take a 'safe' job?