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NYC tech companies may not (yet) be the size of Google, but they are indeed well known and "hot" companies in the space that have very high valuations.
Well, OP is asking about google sized companies. No one is saying that nyc doesn't have some tech companies... just not the global leaders. That point is indisputable.
Well, OP is asking about google sized companies. No one is saying that nyc doesn't have some tech companies... just not the global leaders. That point is indisputable.
Not yet. Internet technology as an industry is very new. Keep in mind Google has only been around since 1998 and didn't go public until several years later. A company like Google has been around far longer than some of these new east coast companies. Google has had nearly two decades to grow to its size and dominance. The company I mentioned before, AppNexus, is only 7 years old and is already valued at over a billion dollars. I'm not disputing silicone valley as the leader, after all that's where things started. They were first out of the gate so they will lead, but you have to give time for east cost companies to catch up. In 20 years some of these NYC based companies may grow to have global dominance on the scale of Google.
Not yet. Internet technology as an industry is very new. Keep in mind Google has only been around since 1998 and didn't go public until several years later. A company like Google has been around far longer than some of these new east coast companies. Google has had nearly two decades to grow to its size and dominance. The company I mentioned before, AppNexus, is only 7 years old and is already valued at over a billion dollars. I'm not disputing silicone valley as the leader, after all that's where things started. They were first out of the gate so they will lead, but you have to give time for east cost companies to catch up. In 20 years some of these NYC based companies may grow to have global dominance on the scale of Google.
True. Meanwhile as the newer companies grow, the West Coast companies have increased their presence in NYC substantially in the past 8 years.
Keep in mind also that most successful startups do not become giants like Google simply because they are acquired by bigger companies. It wouldn't be surprising if the real intention of the founders from the beginning was to get their companies sold.
Well, OP is asking about google sized companies. No one is saying that nyc doesn't have some tech companies... just not the global leaders. That point is indisputable.
NYC can never have a tech company at the size of a West Coast tech company or corporation. The grounds for that are not laid out for that in NYC compared to other areas like Massachuttes, Bay Area or Texas for that matter. The only tech company NYC can have is an internet service based tech company3 or media tech companies. But companies that deal with software and hardware? Never. I want to an app academy meet up and the guys here in NYC all took jobs in Bay Area and Seattle.
Quote:
Originally Posted by NyWriterdude
True. Meanwhile as the newer companies grow, the West Coast companies have increased their presence in NYC substantially in the past 8 years.
Their size and scope is very minimal in NYC. But I do hope it grows, even Microsoft closed down its Reasearch department which was based in Silicon Valley.
Quote:
Originally Posted by Forest_Hills_Daddy
Keep in mind also that most successful startups do not become giants like Google simply because they are acquired by bigger companies. It wouldn't be surprising if the real intention of the founders from the beginning was to get their companies sold.
Yesterday I was at tech readers meet up for a website called engadget. Me and other readers spoke about what you were talking about and it is true. You took the words right out of my mouth. A good example of what you are talking about is similar to the stupid crafted beer market which hopes for these crafters to sell their companies and breweries to larger entities. Tech industry is very similar where great ideas and innovations get sold to bigger entities that exist on the west coast. I known of a person who worked for a tech startup company in Dumbo, but the company was sold to a Seattle based company. A good examples of this is instagram which was sold to facebook, whats app which was sold to Google, Skype which was sold to Microsoft for a couple of billions and gaming streaming service Twitch sold to Amazon for a billion dollars. Most NYC tech companies will get bought by larger west coast entities. If anything I hope these NYC companies become subsidiaries if anything. For now NYC is stuck in gaming software, internet, web and mobile app space service, but can never succeed at hardware and software services and development.
NYC can never have a tech company at the size of a West Coast tech company or corporation. The grounds for that are not laid out for that in NYC compared to other areas like Massachuttes, Bay Area or Texas for that matter. The only tech company NYC can have is an internet service based tech company3 or media tech companies. But companies that deal with software and hardware? Never. I want to an app academy meet up and the guys here in NYC all took jobs in Bay Area and Seattle.
Their size and scope is very minimal in NYC. But I do hope it grows, even Microsoft closed down its Reasearch department which was based in Silicon Valley.
Yesterday I was at tech readers meet up for a website called engadget. Me and other readers spoke about what you were talking about and it is true. You took the words right out of my mouth. A good example of what you are talking about is similar to the stupid crafted beer market which hopes for these crafters to sell their companies and breweries to larger entities. Tech industry is very similar where great ideas and innovations get sold to bigger entities that exist on the west coast. I known of a person who worked for a tech startup company in Dumbo, but the company was sold to a Seattle based company. A good examples of this is instagram which was sold to facebook, whats app which was sold to Google, Skype which was sold to Microsoft for a couple of billions and gaming streaming service Twitch sold to Amazon for a billion dollars. Most NYC tech companies will get bought by larger west coast entities. If anything I hope these NYC companies become subsidiaries if anything. For now NYC is stuck in gaming software, internet, web and mobile app space service, but can never succeed at hardware and software services and development.
NYC will never become big in hardware because the city does not want to. The city discouraged industrial activity since Moses and Bloomberg has rezoned much of the former industrial zones for corporate and residential activity. Traditional software is a waste of time as there is no new money to be made. Open source software (Linux and the applications that run on it) have killed the profitability of the old software model. Money is made on owning IP (Microsoft collects royalities from many Android phones) and from cloud computing. There's major growth in mobile applications, web services and cloud computing. So New York City is moving ahead in those types of tech development.
The corporate sector isn't even bothering to buy from companies like HP and IBM. They buy directly from Asian vendors (including companies like Lenovo and Samsung) that actually make the computers (IBM and HP outsourced their production to Asian companies).
I think the main hardware out of silicon valley is semi conductors like Intel and Qualcomm (Intel makes it's own microprocessors and Qualcomm outsources it's production to an Asian company). Beyond that it is Apple products (Apple has it's products made in Asia but makes plenty of money because it controls the Apple ecosystem) and of course the big companies like Google and Facebook which are essentially cloud computing and mobile app companies. Here in NY IBM sold it's microprocessor division to Globalfoundries (a Dubai owned company) that makes microprocessors in NY, Singapore, and Germany). The point is US companies have largely moved out of hardware, even the Silicon Valley ones. So that is why the tech sector in NY is mainly cloud computing, mobile apps, etc. Software these days largely isn't profitable unless it serves a limited corporate function and even there open source and cloud computing have severely hurt traditional software sales.
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