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Old 05-11-2015, 12:00 PM
 
23,348 posts, read 16,246,553 times
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Quote:
Originally Posted by vision33r View Post
Different mindsets, financial institutions are not known for pushing and investing disruptive and innovative technology. They are only interested in technology that runs their businesses and cut costs for them through automation and job killing. What major company in the East Coast has rolled out a technological innovation? The only thing comes out of here are corporate and patent lawsuits and business reorganizations.

You go to any venture capitalist on the East Coast they are looking for technology that creates marketshare so they can see their quick bucks. They have no patience for stuff like nanotech, biotech, or battery tech. Which is why you'll never find companies like Tesla. I used to work for a venture capitalist company in NYC and they are goddam backward thinking people or you call them traditionalist. There's no progress here for Tech unless people become more forward thinking.

These are people that hated the idea of the iPhones when it was announced typing in their Blackberries but now are all iPhone addicts.

West coast is where you have technology that targets all industries.
Also the West Coast invested state money and private sector money in innovative technology research. Look at all the tech companies created by Stanford and Berkeley graduates or whose companies were reinvented by those graduates (the MacOs is based on BSD Unix, a version of unix refined by Berkeley students). Oracle's Sun unit was created by Berkeley graduates. Google was created by Stanford graduates.

Bloomberg recently decided NYC must have tech research so he pushed Cornell, Columbia, and NYU to all pic this up, as well as working with the state of NY. Under Pataki NYS decided to place more research in tech as well. SUNY Albany does nanotech research and works with NY's semiconductor industry (Globalfoundries has a big presence in NYS and makes microprocessors for AMD and the video game industry, IBM, and for other electronic devices). Part of the recent growth in NY's tech sector is because NY gives out tax credits to attract tech companies.

With the tax credits, NY does have some advantages. The financial sector is here so if they need funding they don't have to go far. Media is here so companies that make money from advertising like Google, Facebook, Yahoo! can leverage that. And of course NYC attracts talent from all over the world.

With all that said I agree with you that the financial sector has no interest in innovation, but Wall Street as a part of NYC's economic base has shrank substantially in recent years. The growing industries here are tourism, tech, film, tv, and education.
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Old 05-11-2015, 12:02 PM
 
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heard of Esty, pretty well know in brooklyn, especally with the hipster crowd.
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Old 05-11-2015, 12:14 PM
 
Location: In the heights
20,423 posts, read 21,953,301 times
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Kickstarter, Etsy, AOL (owns Huffington Post and a number of other firms), Foursquare and Buzzfeed are here. Not huge, but present.
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Old 05-11-2015, 12:17 PM
 
Location: NYC
11,865 posts, read 7,801,131 times
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Quote:
Originally Posted by NyWriterdude View Post
Also the West Coast invested state money and private sector money in innovative technology research. Look at all the tech companies created by Stanford and Berkeley graduates or whose companies were reinvented by those graduates (the MacOs is based on BSD Unix, a version of unix refined by Berkeley students). Oracle's Sun unit was created by Berkeley graduates. Google was created by Stanford graduates.

Bloomberg recently decided NYC must have tech research so he pushed Cornell, Columbia, and NYU to all pic this up, as well as working with the state of NY. Under Pataki NYS decided to place more research in tech as well. SUNY Albany does nanotech research and works with NY's semiconductor industry (Globalfoundries has a big presence in NYS and makes microprocessors for AMD and the video game industry, IBM, and for other electronic devices). Part of the recent growth in NY's tech sector is because NY gives out tax credits to attract tech companies.

With the tax credits, NY does have some advantages. The financial sector is here so if they need funding they don't have to go far. Media is here so companies that make money from advertising like Google, Facebook, Yahoo! can leverage that. And of course NYC attracts talent from all over the world.

With all that said I agree with you that the financial sector has no interest in innovation, but Wall Street as a part of NYC's economic base has shrank substantially in recent years. The growing industries here are tourism, tech, film, tv, and education.
NYC realized it needs to diversify it's dependence on one or two sectors. We've had 2-3 recessions where NYC was affected by Wall St revenue. It still is because the economy here revolves around wall street monopoly money.

The nanotech and biotech industry here still trails behind MA and West coast. There hasn't been enough investment in these areas. There are some chip design here but not competitive enough vs Texas and West Coast. Would be nice to see more smaller chip designers here but so far most of the tech companies here are e-commerce dotcoms.

It's a good strategy to court these industry than rely on Wall street and Real estate markets which can be very cyclical.
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Old 05-11-2015, 12:30 PM
 
23,348 posts, read 16,246,553 times
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Quote:
Originally Posted by vision33r View Post
NYC realized it needs to diversify it's dependence on one or two sectors. We've had 2-3 recessions where NYC was affected by Wall St revenue. It still is because the economy here revolves around wall street monopoly money.

The nanotech and biotech industry here still trails behind MA and West coast. There hasn't been enough investment in these areas. There are some chip design here but not competitive enough vs Texas and West Coast. Would be nice to see more smaller chip designers here but so far most of the tech companies here are e-commerce dotcoms.

It's a good strategy to court these industry than rely on Wall street and Real estate markets which can be very cyclical.
25 years ago NYC outside of IBM had nearly nothing, so this is significant growth from then. And yes I agree with you. The city and state realized they had to diversify away from Wall Street so they had to invest money in encouraging other sectors AND they had to work with universities in order to do the research to support those sectors.

I think the nanotech industry upstate will continue to grow. Agreed that there needs to be more chip design here. I think NY will take advantage of the damage chronic water shortages are causing to California's economy. I think city and state investments in the tech sector here will continue to grow. There are some tech company and chip design companies in the finger lakes started by Cornell graduates and we have the tech school here in NYC. As noted SUNY Albany is doing good research in Nanotech, and Columbia has been expanding it's science and engineering programs (particularly on the 16 acres they recently took over in Harlem). NYU too is expanding it's base in these fields. So I think over time NY institutions will be competitive with the West Coast universities and I see NY becoming more competitive with the West Coast.
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Old 05-12-2015, 03:20 PM
 
16 posts, read 13,462 times
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Quote:
Originally Posted by OyCrumbler View Post
Kickstarter, Etsy, AOL (owns Huffington Post and a number of other firms), Foursquare and Buzzfeed are here. Not huge, but present.
Yep, along with MLB Advanced Media in Chelsea, NeuLion and Livestream in Brooklyn.
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Old 05-12-2015, 04:18 PM
 
Location: In the heights
20,423 posts, read 21,953,301 times
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Quote:
Originally Posted by NyWriterdude View Post
25 years ago NYC outside of IBM had nearly nothing, so this is significant growth from then. And yes I agree with you. The city and state realized they had to diversify away from Wall Street so they had to invest money in encouraging other sectors AND they had to work with universities in order to do the research to support those sectors.

I think the nanotech industry upstate will continue to grow. Agreed that there needs to be more chip design here. I think NY will take advantage of the damage chronic water shortages are causing to California's economy. I think city and state investments in the tech sector here will continue to grow. There are some tech company and chip design companies in the finger lakes started by Cornell graduates and we have the tech school here in NYC. As noted SUNY Albany is doing good research in Nanotech, and Columbia has been expanding it's science and engineering programs (particularly on the 16 acres they recently took over in Harlem). NYU too is expanding it's base in these fields. So I think over time NY institutions will be competitive with the West Coast universities and I see NY becoming more competitive with the West Coast.
And about 30 years before that, most of the major tech companies in the US were in NYC and its metro area.

One big advantage the Bay Area has is the location of multiple national laboratories in the area. The combination of the laboratories, Pacific coast defense bases, and two massive research universities (Stanford and Berkeley) all came together and helped spawn a major base for growing tech companies. NYC and its metro also has similar advantages (not nearly as many national laboratories and not with the same kind of budgets). Really though, a strong CUNY would probably make a massive difference as the people and research that historically came out of the system was impressive.
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Old 05-12-2015, 04:25 PM
 
Location: Bronx
15,012 posts, read 17,570,759 times
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Quote:
Originally Posted by OyCrumbler View Post
And about 30 years before that, most of the major tech companies in the US were in NYC and its metro area.

One big advantage the Bay Area has is the location of multiple national laboratories in the area. The combination of the laboratories, Pacific coast defense bases, and two massive research universities (Stanford and Berkeley) all came together and helped spawn a major base for growing tech companies. NYC and its metro also has similar advantages (not nearly as many national laboratories and not with the same kind of budgets). Really though, a strong CUNY would probably make a massive difference as the people and research that historically came out of the system was impressive.
Lets not forget that Microsoft and Facebook were born in Harvard. NYC needs to do a lot in order to create a tech harbinger.
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Old 05-12-2015, 04:38 PM
 
Location: In the heights
20,423 posts, read 21,953,301 times
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Originally Posted by Bronxguyanese View Post
Lets not forget that Microsoft and Facebook were born in Harvard. NYC needs to do a lot in order to create a tech harbinger.
Microsoft was actually born in Albuquerque.
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Old 05-12-2015, 04:39 PM
 
8,281 posts, read 8,574,394 times
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No idea, but maybe because the best talent was turned out by western universities (Stanford, Caltech?). Or maybe because young guys thought California seemed like more fun than New York.
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