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I love this guy want to hug and kiss him (in a manly way). He is doing what I espouse constantly but am too po' to do. He is putting his cash to work HERE! Tech hub? Bitotech hub? YEAH!!! It's a win win win creating high tech jobs, retains youth, rebuilds the place as a vital economic engine in it's own right. Get out of the way, you nimby morons...WE NEED THIS!! LOT'S OF IT!!!
I love that they are talking again and want to do something but without Wang and/or Town of Hempstead involved, nothing has a fart in a stiff's breeze of a chance of happening. Still, it's better than silence. For crying out loud, Cuomo is flat out saying "get your s*it together and have proposals ready for the REDC grants. That's where the money is." A billion friggin dollars. Our local dimwits couldn't get a proposal together for a biotech hub (lots of venture $ flowing to biotech...see article above) and who knows if they can get out of their own way to agree on a solid hub proposal, ANYTHING!! Geezus H. Christ, how do we get these idiots DO SOMETHING!?! COMPRO-FREAKIN-MISE for the good of the Island! LEAD US TO PROSPERITY (you m0rons)!!
That's good news, but 500K won't get a tech startup far.
I really like his Thought Box idea though I'd also look at Bayshore as a tech hub. I hope his ideas take off and the Island finally turns into the tech center I thought it would be.
The big hurdle will be this.
Quote:
Why do you think we're still losing jobs here, month after month?
It probably has to do with our cost of living. People working on Long Island require higher compensation to pay their taxes. Companies are going to seek to limit their [hiring] as much as possible and to seek to hire younger and less costly employees.
Can't access the Newsday articles... but yes, any economic initiative is a very good thing for LI, and yes - high-tech, biotech, information tech make sense for the region.
It seems that Mark Fasciano's interests/vision are closely aligned with those of the Rauch Foundation (Long Island Index), mentioned on this forum...
I liked the 5min video (by the Rauch Foundation) quite a bit.
The ideas of what can be done to go in a direction of innovation and growth (like the Silicon Valley) and what is pulling us to the ground are succinctly summarized here: http://www.longislandindex.org/filea...%20Handout.pdf
I agree with all 5 major factors stalling "take-off": 1. lack of affordable housing, 2. lack of venture capital, 3. loss of young people, 4. need local workforce, 5. need regional strategy (especially the last one...)
The REDC grants - $100M (for LI) out of $780M (NY state) - there are some good projects in there, at least on paper. I think the Ronkonkoma - MacArthur hub makes a lot of sense.
Stony Brook / BNL get a good chunk (something like 10%) of the REDC for LI.
Believe it or not, we (SBU) are starting a new Civil Engineering major in Fall 2012, and it seems there is a lot of interest in it. The focus will be on transportation - so maybe something good/beneficial will come out of this for the region.
Thanks. Great post(s) (ClarkSt above too). My hope is that despite the cost obstacles, LI is still a desirable location. As the San Jose(s), Austins, Raleigh- Durhams start to encounter the inevitable growth issues their attraction will wane a little and prime places like LI could be ripe for a high tech corridor (educated population, large population, close to the Wall St money). I'm sure there are a a lot of entrepreneurs who, with some support and backing would prefer to be near New York than in Salt Lake City or Orlando.
The area certainly has the talent, the question will be can the area keep it? Usually you work for next to nothing in the first stages of a start up, unless you have big backing, so both the startup and the employees will be burning through cash and credit and that's where the Island's COL really hurts it. The burn rate will just be higher than else where.
I also wouldn't put much in.being close to WS unless the start up has to do with something like high frequency trading, as there is just less reason to be near the city these days.
I think start ups on the Island are possible but it's going to be tough and there's not much wiggle room to make a mistake. I think if Nassau, Suffolk and the Villages get behind the idea it'll stand a better chance.
LI is in a great position to become another Silicon Valley.
CA's back by virtue of the Cloud and theyre buying. Fatwire recently being acquired by Oracle. http://www.oracle.com/us/corporate/a...ire/index.html
USB and BNL scream for a ISP/Ronko hub.
I hope you're right Crooks, but it had the chance of being Silicon Island back in the 80's and 90's, and I don't see why it would happen now. It's the same ingredients as back then but with a higher COL and cost of business, but hey I've been wrong before.
I also wouldn't put much in.being close to WS unless the start up has to do with something like high frequency trading, as there is just less reason to be near the city these days.
True that virtually all financial services do not require physical proximity, but LI's proximity to WS/Manhattan may play a beneficial role perhaps in indirect ways - executives buying/owning property on LI, having family and ties to the place... All other things equal, they are likely to have more interest investing closer to home - business is still done by humans.
As for the nature of these start-ups - I think I know one of the first in which Fasciano invested: General Sentiment | Home.
It's a media information summarizer/analyzer - a kind of a natural language processing (NLP) tool plus some features to measure value based on media hype (software developed/patented at SBU).
There are many such tools, considering that we are overwhelmed with information in the ether. Probably comes down to the business savvy (not the technology itself) to get ahead of the competition and make such a start-up succeed.
LI does need private investments to get things going. Simon's $150M to a single institution alone (SBU) is bigger than all REDC money ($100M) to LI. If played right, both can have some/non-negligible impact on economic growth for the region.
True that virtually all financial services do not require physical proximity, but LI's proximity to WS/Manhattan may play a beneficial role perhaps in indirect ways - executives buying/owning property on LI, having family and ties to the place... All other things equal, they are likely to have more interest investing closer to home - business is still done by humans.
As for the nature of these start-ups - I think I know one of the first in which Fasciano invested: General Sentiment | Home.
It's a media information summarizer/analyzer - a kind of a natural language processing (NLP) tool plus some features to measure value based on media hype (software developed/patented at SBU).
There are many such tools, considering that we are overwhelmed with information in the ether. Probably comes down to the business savvy (not the technology itself) to get ahead of the competition and make such a start-up succeed.
LI does need private investments to get things going. Simon's $150M to a single institution alone (SBU) is bigger than all REDC money ($100M) to LI. If played right, both can have some/non-negligible impact on economic growth for the region.
Why whould a place thats overdeveloped and overpopulated need growth??????.
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