Tech industry booming in New York, with growth outpacing overall city economy (high school, college)
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Sign of the times - blue collar replaced with a t-shirt.
Not quite. The tech industry doesn't employ that many people. Yes, growth in the sector has clearly grown in the past 10 year (Google, Facebook, Yahoo! SAP, etc now all have NYC offices. But the tech sector in no way shape or form replaces the city's old labor intensive blue collar industries.
Not quite. The tech industry doesn't employ that many people. Yes, growth in the sector has clearly grown in the past 10 year (Google, Facebook, Yahoo! SAP, etc now all have NYC offices. But the tech sector in no way shape or form replaces the city's old labor intensive blue collar industries.
In terms of raw numbers? Keep in mind manufacturing is a concept that has existed for hundreds of years and the Internet came out in the early 1980s....give it time.
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Also this is not surprising. Many of the trustafarians living here probably were nerdy in high school, and may have gone on to study similar in college. Coupled with the money they already have they can either open an organic coffee shop, or a "tech" firm.
In terms of raw numbers? Keep in mind manufacturing is a concept that has existed for hundreds of years and the Internet came out in the early 1980s....give it time.
Google is such a profitable company because it employs so few people. Just tens of thousands. Ditto Apple. Ditto Facebook. They are not going to higher massive numbers of people and lower their profit margins.
The tech sector will never, ever employ what manufacturing once did in NYC . In fact manufacturing globally employees less people do to automation.
Also this is not surprising. Many of the trustafarians living here probably were nerdy in high school, and may have gone on to study similar in college. Coupled with the money they already have they can either open an organic coffee shop, or a "tech" firm.
excuse my language.
Big companies like Google, Facebook, Yahoo!, SAP, all have offices in NYC. As do a number of IT consulting firms. It's true people open up new companies in NYC.
This is not the first expansion of the tech sector in NYC. We had a number of dotcoms in the late 90s that went belly up. This time the city has decided to institutionally support tech expansion by promoting expansion in engineering research. Cornell had the new tech school, Columbia is expanding science and engineering on the 16 acres it recently took over, and NYU is refurbishing the old MTA headquarters into a new school of Urban Science.
Not quite. The tech industry doesn't employ that many people. Yes, growth in the sector has clearly grown in the past 10 year (Google, Facebook, Yahoo! SAP, etc now all have NYC offices. But the tech sector in no way shape or form replaces the city's old labor intensive blue collar industries.
The NYC tech sector doesn't seem to have Google, Facebook, Yahoo!, SAP, etc. branch offices as making up the bulk of tech employment. It seems to be a lot of smaller companies like digital agencies such as Huge or Big Spaceship feeding off of already large NYC industries, media sites like Buzzfeed or Business Insider, or smaller startups such as Makerbot, Kickstarter, or Livestream
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