
Venture Funding Gushes in New York City - ggamecrazy
http://www.wsj.com/articles/venture-funding-gushes-in-new-york-city-1452834060
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PLenz
While SF might be loath to acknowledge it New York has been a high-tech center
for a long time - Fulton invented the steamboat, Tesla and Edison were both
working here, later we had Bell Labs, IBM. The Manhattan Project had the named
that because so much of the work was on the island of Manhattan before
security and safety moved it out to the desert.

One of the big things here is that the NY area's tech scene is just one part
of the economy among many. Every time I come to SF and the valley it seems as
if the entire economy is being eaten by tech. Having lived and worked on both
coasts, I think this is a huge advantage to NY.

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jseliger
This makes sense to me:

 _> “New York is now the leading place on the East Coast for tech-venture
investments,” said David Silverman, a partner at PricewaterhouseCoopers.
“Several years ago, companies that wanted to do something big all had to go to
Silicon Valley.”_

By now Boston, the East Coast's number two city, is almost as expensive as NYC
yet doesn't have nearly the concentration of talent and doesn't have nearly as
good a transport scene or dating life
([http://jakeseliger.com/2015/09/19/briefly-noted-date-
onomics...](http://jakeseliger.com/2015/09/19/briefly-noted-date-onomics-how-
dating-became-a-lopsided-numbers-game-jon-birger/)). NYC also has that
critical concentration of nerds and rich people. SF has become so absurdly
expensive that NYC starts to look attractive by comparison.

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seibelj
As much as NYC people want it to happen, they don't have the universities or
the concentration of talent that Boston does. The numbers prove reality
[http://www.entrepreneur.com/article/228709](http://www.entrepreneur.com/article/228709)

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thedufer
Given that the article in question is about growth in vc in nyc in the last
year, it seems perhaps relevant to use recent data:
[http://www.citylab.com/tech/2015/07/the-worlds-leading-
start...](http://www.citylab.com/tech/2015/07/the-worlds-leading-startup-
cities/399623/)

It looks like nyc has taken over #2, with Boston failing to #4.

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pg_bot
My experience may be anecdotal but as someone who has lived and spent a lot of
time in both NYC and SF, it feels like New York is becoming the smarter place
to start a startup. SF has been eating itself over the past year while NYC has
seen a growing number of promising young tech companies set up shop.

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jonesb6
Mind fleshing that anecdotal evidence out a bit more? My understanding is that
the risk tolerance is much, much, lower which is very prohibitive of early
stage start-ups.

I know a 'new silicon valley' sounds sexy, especially in places like London,
India, whatever, but do we have evidence to back up these claims? Start-up
entrances per year, VC firm presence, fund-raising rounds, etc?

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pg_bot
The metrics I causally track are private companies that I would want to work
for, or products people in my social circle are using. BuzzFeed, Venmo,
ClassPass, Casper, Warby Parker, Etsy, DataDog, BirchBox, Kickstarter, and
Oscar are all established startups headquartered in NYC which fit that bill.
If you wanted to work for a big company, the only two I can think of that
don't have a presence in NYC are Netflix and Apple. Risk tolerance may be
slightly higher in SF, but NYC has 10x the population and it is becoming
cheaper to start a startup every day. I've also seen more than a handful of
world class developers move from SF to NYC in the past year.

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cat-dev-null
There's...

Stanford: money (VCs/angels), talent, founders and customers, all within a
very comfortable radius (complete ecosystem). Google, Snapchat, PayPal,
Netflix, ... And, strong alumni networking.

and

Harvard: has talent, founders and some customers, but money often require more
travel (currently incomplete ecosystem, read: time and money sinks). Strong
alumni networking too.

and

IIT system: not bad either.

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gersh
San Francisco has gotten so expensive that New York is cheaper.

