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Location: Watching half my country turn into Gilead
3,530 posts, read 4,189,991 times
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Quote:
Originally Posted by NOLA101
Why would you assume such a thing? Maybe the billionaires in the other Northeastern cities are from NYC. That makes as much sense as your supposition (probably more sense given tax differences between jurisdictions).
It's an assumption w/ no empirical studies that can go either way, yes. Just trying to figure out why NYC outperforms and the rest of the northeast underperforms, when it comes to billionaires, especially compared to CA cities. Figured the close proximity of the northeast cities and the gravitational pull of NYC might have something to do with it. NYC is a beast, plain and simple, even ahead of Moscow, a similarly sized city, by a comfortable margin--why the extra billionaires and where do they come from? As such, can't discount the thesis that some filthy rich folks might have moved from Boston as much as a Mumbai to NYC--especially since one is underrepresented. It's a guess as good as any.
Well first off, most rankings only do permanent residences of billionaires and your reasoning that billionaires in other Northeast cities moved to New York and thats why they are underperformers versus CA is what I dont agree with.
Historically, it's been true when it comes to inherited wealth. Carnegies, Rockefellers, Mellons, Fricks, etc. all made their fortunes elsewhere before settling in NYC. Modern day, attractive metropolises certainly still shift people to them whether or not they do it as billionaires or when it does it with people who aren't yet billionaires but have a good lot of talent. NYC is a vast siphon of resources for the Northeast, but it's not so bad that the other Northeastern cities are doing terribly on these measures.
What's interesting to me is how low the rest of the Northeast fares aside from New York. You'd think as the nation's oldest economies and first centers of wealth and power, there would be more billionaires but clearly CA and TX cities have significantly more than Boston, Philadelphia and DC.
I find these numbers to be some what interesting too, considering billionaires still go to school slightly more in the Philadelphia, and Boston area than the NYC area. To automatically assume all the billionaires in NYC didn't come from else were around the northeast is a broad assumption.
Location: That star on your map in the middle of the East Coast, DMV
8,140 posts, read 7,608,312 times
Reputation: 5796
Quote:
Originally Posted by 18Montclair
What's interesting to me is how low the rest of the Northeast fares aside from New York. You'd think as the nation's oldest economies and first centers of wealth and power, there would be more billionaires but clearly CA and TX cities have significantly more than Boston, Philadelphia and DC.
Not really, this is billionaires we're talking about not exactly active pillars of the local community in any of these cities. Now when talking the millionaires list it's more interesting.
I find these numbers to be some what interesting too, considering billionaires still go to school slightly more in the Philadelphia, and Boston area than the NYC area.
I doubt that's true.
You realize Harvard isn't a proxy for "Boston area" and Penn isn't a proxy for "Philly area", right? You would have to add up all the schools and all the billionaires, and I'm willing to bet there are more billionaires graduating from the NYC metro area schools (Columbia, NYU, City University, Fordham, Rutgers, Princeton, Yale, etc.).
Many billionaires didn't even go to college. And where they went to college doesn't really say anything about the nearby metro area, it just says something about the desirability of the school. For example, I'm sure many wealthy people went to University of Michigan, that doesn't mean Ann Arbor is a mecca for wealth or even particularly desirable.
You realize Harvard isn't a proxy for "Boston area" and Penn isn't a proxy for "Philly area", right? You would have to add up all the schools and all the billionaires, and I'm willing to bet there are more billionaires graduating from the NYC metro area schools (Columbia, NYU, City University, Fordham, Rutgers, Princeton, Yale, etc.).
Many billionaires didn't even go to college. And where they went to college doesn't really say anything about the nearby metro area, it just says something about the desirability of the school. For example, I'm sure many wealthy people went to University of Michigan, that doesn't mean Ann Arbor is a mecca for wealth or even particularly desirable.
Well obviously you make a valid point. I also include Princeton in the Philadelphia region count. I was originally commenting on the fact someone else flat out said not one of the NYC area billionaires came from a surrounding metro. With so many graduates of Harvard, UPenn, Princeton being billionaires, to assume not one of them grew up in the boston or philadelphia metro and moved to nyc is a broad assumption, but quite possibly could be true.
I also include Princeton in the Philadelphia region count.
Princeton is in the NYC metro, not the Philly metro.
Quote:
Originally Posted by thedirtypirate
With so many graduates of Harvard, UPenn, Princeton being billionaires, to assume not one of them grew up in the boston or philadelphia metro and moved to nyc is a broad assumption, but quite possibly could be true.
None of these schools are local schools. Their location is pretty much irrelevent to their draw. I bet you there are more New York area students attending Harvard or Penn than from Boston and Philly, simply because NYC is much bigger.
And again, why are you including Princeton with Philly? That's no different that including Penn with NYC. It's just a fabrication of reality.
Looking at Harvard, the top region for Harvard undergraduates is Mid-Atlantic, followed by West. New England is in third place. So it's extremely likely that the NYC area is the biggest source of undergraduates.
And looking at Penn, there appear to be far more students from NY-NJ-CT than from PA, so the same is probably also true. It's just a function of raw numbers.
Princeton is in the NYC metro, not the Philly metro.
None of these schools are local schools. Their location is pretty much irrelevent to their draw. I bet you there are more New York area students attending Harvard or Penn than from Boston and Philly, simply because NYC is much bigger.
And again, why are you including Princeton with Philly? That's no different that including Penn with NYC. It's just a fabrication of reality.
Well I grew up close enough to Princeton that I dated a girl there growing up. I grew up listening to 103.3 and guess what? Still listen to it today living in Philly. Like no matter the classification, it comes down to culture and Princeton is very much split between. No difference between Penn in NYC? Penn is an urban university in the heart of University City, Philadelphia. Princeton University is in Princeton which is in Mercer County, NJ, geographically closer to Philadelphia. At that this topic has actually been polled on C-D...
The poll goes with neither, which probably the correct answer but if you had to pick one way or the other I would say Philly. It is just like the inclusion of the Leigh Valley in the NYC area, when historically those cities have much more in common culturally with Philadelphia and still do to this day. But I have no clue on reality, nice
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