Has Boston Figured Out Innovation? (Cambridge, Winthrop: real estate, lease, theatre)

[TheseGoTo11]

I'm a Boston area native, Bay Area resident. In addition to the weather, reason I never moved back was that I couldn't take the old school, slow ways of doing business in Mass. I was once asked by a Boston company why I left a job after "only" two years, I was once asked by an SF company what made me stay at a job four years. The slow-to-move-off-tradition culture is why Silicon Valley tore past Route 128, and completely obliterated it with few people today remembering who DEC or EMC were (or are).

But today, Biotech is the leading source of innovation and Boston is the clear #1 here, SF the clear #2. While I see some aspects less embraced in the East Coast, like synbio and biohacking, I'm noticing the business side of innovation seems strong as well. Friends job hopping between biotechs there, risky new ideas getting large venture rounds. I travel a lot, including to much hyped Texas, and what they lack is the mindset for innovation. Everyone has engineers, but few places really understand that innovation means changing how business gets done, and that embracing innovations means embracing bad ideas and things that will never work. It also means changing the business processes that surround innovation - finance, HR, marketing, etc - this is currently a real problem in Dallas where you have a lot of people brought up to do what they're told. It seems Boston has gotten much better at this, and is no longer stuck to old ways of looking at finances, dress, job tenure, etc.

My question is do you think Boston can sustain its lead against the Bay Area in biotech, has it learned from its slow moving mistakes of the 90s?

[BostonBornMassMade]

My knee jerk reaction is no. But idk. Ppl value innovation in Boston I don't know if that reflected in the way of actually doing things. Just as slow moving and overly cautious as ever.

[masssachoicetts]

Im not in that industry, but I worked heavily with Urban Planning/Business Real Estate in Boston. I see two things moving forward that could benefit it.

-Boston has by far, the most lab/RD space underway, proposed and through the pipeline of any city in the world. Its pretty clear cut here, and COVID has strengthened its postion in this field. The pipeline has shot up and grown by a loott. Every day a new project emerges with huge RD space... and theres no signs of this slowing down.
-Boston is one of very few cities still building office towers that are leased before shovel to ground here in 2021. (Think, SST, Winthrop, SSHQ)

Im seeing the results, and companies do and still want to be here. Thats for sure. But what are you seeing outside the statistics? How are companies in 2021 in Boston compared to Bay Area? Because we all know statistics might look pretty now, but in 5 years things could go the complete opposite way.

I do see some thing holding back Boston including old fasioned way of doing things coupled with the resistance to change, even for one of the most innovative cities in the world. I am hopeful it will continue to be #1, and I can see it stay #1 for atleast another 5 years... but long term? I feel Boston has a shaky future once this building boom is said and done in these fields.

Im even MORE hopeful for Boston now. Amazon has 2 art/theatre venues coming to the Seaport. Theres another one coming to Cambridge. Were getting there...

[Boston Shudra]

I think MIT has figured out innovation, and Boston is along for the ride.

[masssachoicetts]

Originally Posted by Boston Shudra

I think MIT has figured out innovation, and Boston is along for the ride.

kendall too. booming.

[gf2020]

Job hopping does not equal innovation.

[masssachoicetts]

Originally Posted by gf2020

Job hopping does not equal innovation.

when the jobs are literally... creating things.. yes. yes it does.

[Boston Shudra]

Originally Posted by masssachoicetts

kendall too. booming.

Kendall and MIT are one and the same.

[masssachoicetts]

Originally Posted by Boston Shudra

Kendall and MIT are one and the same.

Yes and no. Although MIT has a significant share in the development.around Kendall. A lot of private development (ie Google Tower, Arts and Theatre Tower, PRISM) Are pretty unique and great.

[Boston Shudra]

Originally Posted by masssachoicetts

Yes and no. Although MIT has a significant share in the development.around Kendall. A lot of private development (ie Google Tower, Arts and Theatre Tower, PRISM) Are pretty unique and great.

They all cater to MIT.