New York City is poised for a tech revival
New York City has many of the same strengths as Silicon Valley – merit-driven capitalism, the embrace of newcomers and particularly immigrants, and a consistent willingness to reinvent itself. Silicon Valley will always be the mecca of technology, but now that people here are getting back to, as Obama says, making things, New York City has a shot at becoming relevant again in the tech world.
(1) advertisers are based out of New York City. You can set up endless meetings with NYC advertisers if you're based out of the west coast, but you won't have the advantage of running into them at dinner parties and through friends and friends of friends here in New York. (2) Also, NYC companies need to show a profitable projected P&L (not 15 years out, but more like 3 years out) to raise money in the east coast. West coast start-ups tend to have a 'we'll figure out the monetization thing at some point' mentality.
clipped from www.cdixon.org
