Earlier quoted context omitted.
Google Maps put the time at 23 mins by car right now. Still an incredibly easy and cheap Lyft ride.
ha... it never works out that way.
not after Amazonians move in to that city atleast !
Amazon Selects New York City and Northern Virginia for New Headquarters
251–260 of 279 posts
Re: Amazon Selects New York City and Northern Virginia for New Headquarters
#252Earlier quoted context omitted.
A parallel post to this one, by imgabe, has been flag-killed. While I don't agree with the post, I had to look very carefully at my history in this thread to see whether he was right in what I said. His post had enough of a basis that I think flag-killing it was unwarranted.
Well, I appreciate your saying so. I apologise for my part in this discussion going off the rails.
Well... there was probably blame enough to go around to both sides.
Apology accepted... and offered in return.
Re: Amazon Selects New York City and Northern Virginia for New Headquarters
#253Earlier quoted context omitted.
> Fin-tech firms WILL HAVE TO compete against Amazon for (supposed) west coast wages, and could help build a much stronger tech industry than NYC has atm. Those fin-tech companies almost certainly pay more than Amazon already. IIRC amazon has a cap of 275k for base pay, which means even if you're James Gosling that's the most you're getting, the rest has to come from RSUs which amazon also has a terrible vesting stru…
I am not sure if I agree with you on wage distributions. Sure, Google and FB pay more and so do top investment banks / hedge funds in math/stat/algo positions . However, those simply are not the bulk of fintech employees. The majority of fintech SDEs at GS,Morgan,etc. are working on software engineering and maintenance work. These roles pay closer to the $100k number than Amazon's quoted $150k. At least for new hires…
Even in Philly, fintech is offering 150k for software engineers. New York has gotta be over 200, probably closer to 300.
Re: Amazon Selects New York City and Northern Virginia for New Headquarters
#254Earlier quoted context omitted.
Displacement is a fact of life. Nobody is entitled to live in a certain area for a certain amount of money. What ever happened to living within your means?
>Nobody is entitled to live in a certain area for a certain amount of money. Not inherently, no. But legally speaking there are concepts like "rent control" and "adverse possession" that were created to assert on some level that people do, in fact, have a right to continue living in a space that they've occupied for a reasonable duration.
Accelerating pushing the price up of the non-rent controlled units in the finite landspace, making only the most extreme examples of gentrifiers possible and out of reach for more individuals and businesses
But then subsidizing one business to do it anyway is the problem.
Got ittttttttt
Economies are ecosystems.
Re: Amazon Selects New York City and Northern Virginia for New Headquarters
#255Earlier quoted context omitted.
> I am super disappointed that they chose Long Island City Edward Glaeser's research on the economic and social benefits from density, summarized in Triumph of the City [1] and referenced in this guy's videos [2][3], is worth reviewing. Long story short, agglomeration breeds efficiencies which lead to further agglomeration. New York can uniquely offer things other cities can't because of its density. A few thousand p…
If this were necessarily true - that all industries would naturally gravitate to the regions of highest density - then why is so much of the banking industry now in North Carolina?
A big reason banks are located in North Carolina is that they had laws that were friendly to large banks:
> But North Carolina was among the first states to allow banks to operate multiple branches within a state's borders.
https://www.bizjournals.com/charlotte/blog/bank_notes/2012/0...
Re: Amazon Selects New York City and Northern Virginia for New Headquarters
#256Earlier quoted context omitted.
I am not sure I agree with this assessment. Where are Amazon employees going to live? Probably not out on Queens Boulevard on the 7/E/F/M/R so they'll be taking the train in the opposite direction. If they live on Long Island, they can take LIRR to Hunterspoint Ave (infrequent service, but demand can change that). If they live in New Jersey or in MNR territory, they'll take the train to Manhattan and then take the su…
I might be wrong, but are you suggesting getting to LGA from LIC is ...inconvenient? I think in all of NY there is no relationship between neighborhood and airport that would be better? Not sure about public transport since I would think everybody would take a lyft/uber/taxi from LIC to LGA. It's 10min and cheap.
LGA itself tends to be inconvenient. Getting there from LIC is no worse than from anywhere else, but you're still ending up at LGA. The construction crews sincerely apologize for any unexpected convenience you may experience.
Re: Amazon Selects New York City and Northern Virginia for New Headquarters
#257Earlier quoted context omitted.
> Fin-tech firms WILL HAVE TO compete against Amazon for (supposed) west coast wages, and could help build a much stronger tech industry than NYC has atm. Those fin-tech companies almost certainly pay more than Amazon already. IIRC amazon has a cap of 275k for base pay, which means even if you're James Gosling that's the most you're getting, the rest has to come from RSUs which amazon also has a terrible vesting stru…
I am not sure if I agree with you on wage distributions. Sure, Google and FB pay more and so do top investment banks / hedge funds in math/stat/algo positions . However, those simply are not the bulk of fintech employees. The majority of fintech SDEs at GS,Morgan,etc. are working on software engineering and maintenance work. These roles pay closer to the $100k number than Amazon's quoted $150k. At least for new hires…
Pretty much this and fintech isn't this one thing that pays well but ranges from highly paid domain experts to generalists working on maintaining legacy systems. most generalists are not usually paid that well by SV big tech standards and the work environment is generally not as great. Amazon is more than competitive enough against the bulk of software engineering roles even at top investment banks and you will see lots of ex-top-IB engineers already working in their NYC office.
Re: Amazon Selects New York City and Northern Virginia for New Headquarters
#258Knew that they wouldn't pick Toronto - Trump would have blown a gasket
How could Amazon's HQ2 open in Toronto? What percentage of global talent would be willing to move there?
Re: Amazon Selects New York City and Northern Virginia for New Headquarters
#259Earlier quoted context omitted.
> Fin-tech firms WILL HAVE TO compete against Amazon for (supposed) west coast wages, and could help build a much stronger tech industry than NYC has atm. Those fin-tech companies almost certainly pay more than Amazon already. IIRC amazon has a cap of 275k for base pay, which means even if you're James Gosling that's the most you're getting, the rest has to come from RSUs which amazon also has a terrible vesting stru…
You don't understand Amazon's pay model completely. They have a backloaded vesting structure of RSUs, sure, but Amazon also provides a cash 'signing bonus' that vests monthly over years 1 and 2 in an amount that gives approximately the same total expected yearly comp for the first 4 years (same as calculated at time of grant; subject to change with stock movement). My Amazon comp has been more than competitive with F…
Competitive? Are you a new grad?
Re: Amazon Selects New York City and Northern Virginia for New Headquarters
#260Why do we give Amazon subsidies but not small businesses, who altogether provide over 50% of the jobs in America? The reason, as I understand it, is because Amazon as a single corporate entity provides far more jobs and holds more power. Following that: Wouldn't the small businesses, due to our anti-trust regulations, actually be considered a cartel if they tried to negotiate as a group and gain the same tax advantag…
Generally speaking businesses that actually bring outside money into an area tend to be large businesses. There are obviously exceptions but small businesses usually rely on capturing economic activity that would have occurred anyway in the area. Amazon in NYC brings significant outside revenue from all over the US and in some cases the world into NYC. Most small businesses in NYC don't do this - they are mostly competing against another for the consumer that would've happened locally anyhow. Looking globally, even large businesses are just competing against one another in the same way but for any give municipality, there are benefits to being home to large corporations that are able to bring revenue from outside into the local economy.