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Tech takes over: New York is the sector's second city

crainsnewyork.com

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Re: Tech takes over: New York is the sector's second city

#31

Post by akhilcacharya »

acconrad wrote: post #18

What is Boston doing wrong? In the 80s thanks to the 128 Tech Row, it was on par with Silicon Valley as the top spot, then it lost ground and now NYC is considered #2? We have the highest concentration of collegiate tech talent, the same weather as NYC (obviously worse than SV), lower cost of living than both cities, and there's been a ton of investment in real estate for tech companies in the Seaport District. Too l…

All of the Big4 are in Kendall Square (on the same street even!). Bunches of neat startups out of Harvard/MIT.

I think its a pretty good tech scene all things considered, more notable companies than the tech hub I grew up in IMHO.

Re: Tech takes over: New York is the sector's second city

#33

Post by technofiend »

cddotdotslash wrote: post #5

The best part about tech in NYC is that it isn't a non-stop, in-your-face bubble the way that it is in SF/SJ. I work in tech but enjoy having friends in fashion, finance, real estate, advertising, etc. The conversations here are much more diverse. Interestingly, that same diversity helps improve the tech sector.

I can't help but wonder if the recent tax changes will have any effect in consolidating East Coast tech jobs. Previously you could live in NJ and work in Manhattan and write off the respective taxes of each. Now it's my understanding you'd be better served (for example) living and working solely in New Jersey.

See [1] for an actual discussion on the tax law changes

    State and local taxes.
    Taxpayers can deduct a maximum of $10,000
    from the total of their state and local income
    taxes or sales taxes, and their property taxes
    (added together), a measure that might hurt
    itemizers in high-tax states such as California,
    New York and New Jersey. The $10,000 cap applies
    whether you are single or married filing jointly;
    if you are married filing separately, it drops to
    $5,000.
[1] https://www.investopedia.com/taxes/how-gop-tax-bill-affects-...

Based on that maybe we'll see clustering on each side of the river? Entirely speculation on my part, of course.

Re: Tech takes over: New York is the sector's second city

#34

Post by DannyBee »

lallysingh wrote: post #17
jimmy1 wrote: post #6

Earlier quoted context omitted.

High stress, high pollution, rat race of a lifestyle, you are regulated and taxed on more things you even thought possible, and one of the worst imaginable places to try and raise a family. It has it's pros and cons, but I think we both agree it is certainly better than Silicon Valley. It's great if you are a young professional figuring out the world, but eventually people want their space and be able to stretch out…

That place is New Jersey. Mortgages for a real house with land for less than an apartment rent in SF. I think California is also known for regulation and taxation. Solid public and private school options. Lovely little towns every couple of miles.

"That place is New Jersey."? It has the highest property taxes in the country, high insurance rates, etc.

I grew up there, it definitely has it's downsides too. I'd choose it over California, for sure, but New Jersey is definitely not cheap.

Re: Tech takes over: New York is the sector's second city

#35

Post by vinceguidry »

meri_dian wrote: post #26
lallysingh wrote: post #17

Earlier quoted context omitted.

That place is New Jersey. Mortgages for a real house with land for less than an apartment rent in SF. I think California is also known for regulation and taxation. Solid public and private school options. Lovely little towns every couple of miles.

Glad to see NJ get some positive mention here. Been living in NJ all my life and it's always sad to see people bash it based on a few trips they've had on the Turnpike up around NYC. The state really has it all. Expensive, but an excellent mix of suburbia, rural lands to the west and south, and (somewhat) easy access to one of the greatest cities in the world.

Everything but the weather. Lots of NJ transplants in Atlanta and Florida. They make the trip back up to walk the boards and rub elbows with their old friends for a few weeks but spend most of the year where it's warm.

Re: Tech takes over: New York is the sector's second city

#36

Post by ocschwar »

acconrad wrote: post #18

What is Boston doing wrong? In the 80s thanks to the 128 Tech Row, it was on par with Silicon Valley as the top spot, then it lost ground and now NYC is considered #2? We have the highest concentration of collegiate tech talent, the same weather as NYC (obviously worse than SV), lower cost of living than both cities, and there's been a ton of investment in real estate for tech companies in the Seaport District. Too l…

Nothing really. It's just that NYC decided to go into tech, and they have a lot of capital they can use to take in that direction.

NYC could beat Boston in Red Sox fandom if they wanted to.

Re: Tech takes over: New York is the sector's second city

#37

Post by elefanten »

cddotdotslash wrote: post #5

The best part about tech in NYC is that it isn't a non-stop, in-your-face bubble the way that it is in SF/SJ. I work in tech but enjoy having friends in fashion, finance, real estate, advertising, etc. The conversations here are much more diverse. Interestingly, that same diversity helps improve the tech sector.

Sounds like something of your own making. Actual tech employees in the Bay Area are still an overwhelming minority of people. Yes, tech is more of a minority in NY and NY is more of a hub for other industries.

But if you only hung out with tech employees in SF, that was a bubble of your own creation.

Re: Tech takes over: New York is the sector's second city

#38

Post by chimeracoder »

jimmy1 wrote: post #6
jdlyga wrote: post #3

Cheaper rent than Silicon Valley, tons of cultural diversity, and amazing food. Really nice place to live.

High stress, high pollution, rat race of a lifestyle, you are regulated and taxed on more things you even thought possible, and one of the worst imaginable places to try and raise a family. It has it's pros and cons, but I think we both agree it is certainly better than Silicon Valley. It's great if you are a young professional figuring out the world, but eventually people want their space and be able to stretch out…

> High stress, high pollution, rat race of a lifestyle, you are regulated and taxed on more things you even thought possible

New York has incredibly low pollution compared to other cities of comparable size, especially in the US. As for "regulated and taxed on more things than you even thought possible"... are you sure you're not thinking of California?

Re: Tech takes over: New York is the sector's second city

#39

Post by rch »

cddotdotslash wrote: post #5

The best part about tech in NYC is that it isn't a non-stop, in-your-face bubble the way that it is in SF/SJ. I work in tech but enjoy having friends in fashion, finance, real estate, advertising, etc. The conversations here are much more diverse. Interestingly, that same diversity helps improve the tech sector.

Agreed. Although I did miss meeting engineers from other disciplines (EE, Mechanical, Chem. E., etc). I'm not sure if they are simply scarce in Manhattan, or if I was in the wrong places.

Re: Tech takes over: New York is the sector's second city

#40

Post by seanmcdirmid »

CodeSheikh wrote: post #2

I am not surprised to read this and also not sure what makes this article/publisher the assumed authority to christened NYC as #2. After Silicon Valley one might argue that Seattle has better tech than NYC but again NYC always has breadth and depth of diverse markets such finance, fashion, ads, hotel, food, law and education to name a few. Not to mention, easy access to EWR/JFK/LGA airports from European continent ma…

Seattle has better connections to Asia, given the way planes travel it is closer to Beijing, Tokyo, Seoul than any other major American city besides anchorage.
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