NY venture firm FirstMark Capital announced the hire of Matt Turck, cofounder of TripleHop Technologies and former Bloomberg Ventures managing director. Turck discussed with Forbes how the NY startup scene has evolved and how FirstMark has been involved.
Of the fifty investments that they are currently involved with, 22 of them are based in NY. Turck said that over the last 15 years, NY tech has evolved through three phases. The first was media and adtech companies, the second was social and eCommerce, and the third has been the application of Big Data techniques.
Amish Jani, fellow managing director of FirstMark, also said that since NY is a commercial capital of the world, the increased access to technology is opening up specialized, entrepreneurial talent, saying that the decline of Wall Street has helped the process.