Wednesday May 22, 2019

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Dixon: Why Has New York’s Tech Scene Lagged?

Hunch co-founder and venture capitalist Chris Dixon, in a recent blog post, offers some thoughts as to why New York City has "lagged" behind the West Coast this decade so much more so than last with regards to its tech industry, especially "since the [I]nternet in the 2000's has been more about consumers, media, and advertising – traditional New York City strengths."

In his opinion, the "finance bubble of 2003-2008" was a "giant talent suck" on the East Coast as engineering and business program graduates went to work at hedge funds or big banks.

Now that the "bubble has burst" however, he thinks that New York City is poised for a "technology startup boom," one led by firms such as Union Square Ventures, Bessemer, some of the "scrappy" Boston venture capital firms "spending a lot of time in New York City," including Spark, General Catalyst, Flybridge, and Bain Ventures, Philadelphia's First Round Capital, and departing Googlers off to start their own companies.


> Dickert: Is NY Poised for a Tech Revival?