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I’m leaving London for NYC and taking my tech startup

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Re: I’m leaving London for NYC and taking my tech startup

#131
post #127

Hopefully crime goes back down. I was born and raised in Brooklyn during some of NY's worst crime waves. It appears to be heading back that way again with inflation and crime. Felonious assaults are up over 18% since 2020, and robbery is up by 15.8% compared to 2020. His startup sounds like any other tech-based company. He needs techs, mathematicians, AI, data sci., etc. With the great work-from-home experiment due t…

I am personally betting 80% of the people that left NYC will be back. Plus a lot more that will move to NYC for the first time.

It sounds great to live in a cottage... but once you realize there's nothing interesting going on there, and you essentially live your life through a screen and a microphone... it's not what most people want long term.

Google just bought (not rent) an extra building for $2B. They said that when they give new hires a choice, NYC ranks #1 in their preference.

I live in NYC and I can tell you there are more people on the streets than pre-covid. And international travel/tourism is just getting started.

Re: I’m leaving London for NYC and taking my tech startup

#132

Earlier quoted context omitted.

How do you manage a company from across the Atlantic? What does your tax situation look like? Do you personally enjoy living in London or are you there in spite of your interests?

1. One day at a time. But in all seriousness, a good co-founder and team. Also, we started the company during COVID which I think made the VCs less worried a about a full remote situation. 2. US citizen but UK tax resident. So two income tax returns. It's a pain, but thankfully the tax treaty means one offsets the other and it works out in the end. 3. Personally want to live in London

Feel your pain. Canadian citizen who previously founded startup in London and had to pay double taxes. Enjoyed the life in London though. Would love to go back some day.

Re: I’m leaving London for NYC and taking my tech startup

#133
post #65
post #33

Earlier quoted context omitted.

> What it doesn't do well is spaff money indiscriminately at any old idiot with an idea. That's what government's for

No, the UK government requires you to have no clue (but be chums with a minister or Tory MP) before it spaffs torrents of money your way.

It seems you are agreeing with the comment you replied to.

Re: I’m leaving London for NYC and taking my tech startup

#134
post #65

Earlier quoted context omitted.

No, the UK government requires you to have no clue (but be chums with a minister or Tory MP) before it spaffs torrents of money your way.

It seems you are agreeing with the comment you replied to.

It isn't enough to be an idiot, you have to be an idiot with connections to get spaffed

Re: I’m leaving London for NYC and taking my tech startup

#135
post #44

Likely a prequel to "leaving NYC for SF".

Wherever he goes his problems will follow him. The US won't be a utopia when it comes to hiring PhD's with sales skills either.

"PhD's with sales skills..."

Sounds expensive.

Re: I’m leaving London for NYC and taking my tech startup

#136

Earlier quoted context omitted.

like the author we're light on details beyond "the culture", "bad at sales". What does this _mean_ exactly?

It is everything. Customers too risk-averse, class boundaries still endemic (it is amazing the US tech companies went into this, Google/Facebook/etc. seem to have hired the Notting Hill set as soon as they came to London), companies too conservative about investing margin in sales, very relationship-driven sales culture (as opposed to product-driven) that is closed to "outsiders", reluctance to cold-call, etc. It is…

'I think if you look at politics in the UK, it is self-evident that the culture of the UK is not exactly entrepreneurial...unless you believe that a group of probably 30-50 people who went to the same school, went to the same university and largely studied the same course should rule the country...it is very weird.'

My impression is that the UK and US are fairly similar in this respect. The leadership of the political and administrative class in both countries is dominated by graduates of a small number of institutions who took similar courses. In the UK it's primarily Oxford and Cambridge, and in the US it's Harvard, Yale and some other Ivy League colleges. There is a analogous pattern in many other countries.

Below is a list of all the national elections contested in the US and UK in the postwar period, noting the subject or subjects studied by the two leading candidates for head of government, along with the higher education institutions they attended:

USA

2020 Biden (Delaware/Syracuse, Law) v. Trump (Wharton, Economics)

2016 Trump (Wharton, Economics) v. H. Clinton (Wellesley/Yale, Politics/Law)

2012 Obama (Columbia/Harvard, Politics/Law) v. Romney (Brigham Young/Harvard, English/Law)

2008 Obama (Columbia/Harvard, Politics/Law) v. McCain (US Naval Academy)

2004 G. W. Bush (Yale/Harvard, History/Business) v. Kerry (Yale/Boston, Politics/Law)

2000 G. W. Bush (Yale/Harvard, History/Business) v. Gore (Harvard, Government)

1996 B. Clinton (Georgetown/Oxford/Yale, Foreign Service/PPE/Law) v. Dole (Washburn, Law)

1992 B. Clinton (Georgetown/Oxford/Yale, Foreign Service/PPE/Law) v. G. H. W. Bush (Yale, Economics)

1988 G. H. W. Bush (Yale, Economics) v. Dukakis (Swarthmore/Harvard, Politics/Law)

1984 Reagan (Eureka, Economics) v. Mondale (Minnesota, Politics)

1980 Reagan (Eureka, Economics) v. Carter (US Naval Academy)

1976 Carter (US Naval Academy) v. Ford (Michigan/Yale, Economics/Law)

1972 Nixon (Whittier/Duke, History/Law) v. McGovern (Dakota Wesleyan/Northwestern, History)

1968 Nixon (Whittier/Duke, History/Law) v. Humphrey (Minnesota/Louisiana State, Politics)

1964 Johnson (Texas State/Georgetown, Politics/Law) v. Goldwater (None)

1960 Kennedy (Harvard, Government) v. Nixon (Whittier/Duke, History/Law)

1956 Eisenhower (West Point) v. Stevenson (Princeton/Harvard/Northwestern, History/Law)

1952 Eisenhower (West Point) v. Stevenson (Princeton/Harvard/Northwestern, History/Law)

1948 Truman (None) v. Dewey (Michigan/Columbia, Law)

UK

2019 Johnson (Oxford, Classics) v. Corbyn (None)

2017 May (Oxford, Geography) v. Corbyn (None)

2015 Cameron (Oxford, PPE) v. Miliband (Oxford/LSE, PPE/Economics)

2010 Cameron (Oxford, PPE) v. Brown (Edinburgh, History)

2005 Blair (Oxford, Law) v. Howard (Cambridge, Law)

2001 Blair (Oxford, Law) v. Hague (Oxford, PPE)

1997 Blair (Oxford, Law) v. Major (None)

1992 Major (None) v. Kinnock (Cardiff, Industrial Relations)

1987 Thatcher (Oxford, Chemistry) v. Kinnock (Cardiff, Industrial Relations)

1983 Thatcher (Oxford, Chemistry) v. Foot (Oxford, PPE)

1979 Thatcher (Oxford, Chemistry) v. Callaghan (None)

1974 Wilson (Oxford, PPE) v. Heath (Oxford, PPE)

1974 Heath (Oxford, PPE) v. Wilson (Oxford, PPE)

1970 Heath (Oxford, PPE) v. Wilson (Oxford, PPE)

1966 Wilson (Oxford, PPE) v. Heath (Oxford, PPE)

1964 Wilson (Oxford, PPE) v. Douglas Home (Oxford, History)

1959 Macmillan (Oxford, Classics) v. Gaitskell (Oxford, PPE)

1955 Eden (Oxford, Oriental Languages) v. Attlee (Oxford, History)

1951 Churchill (Sandhurst) v. Attlee (Oxford, History)

1950 Attlee (Oxford, History) v. Churchill (Sandhurst)

1945 Attlee (Oxford, History) v. Churchill (Sandhurst)

Sandhurst is essentially equivalent to West Point. What is particularly notable about the UK is the number of Prime Ministers who were educated at Oxford: in the postwar period, all but two graduated from one of Oxford's various colleges. This probably has more to do with Oxford than the UK as a whole: in terms of prestige, academic success and establishment influence, Oxford and Cambridge are more or less identical, yet Cambridge clearly has a problem with producing Prime Ministers.

The US has a little more diversity in the academic institutions that educate its presidents, but that perhaps isn't surprising given it has about five times the population and about forty times the geographic area. A small number of institutions still dominate.

There is a little less diversity in the US in terms of the courses taken: all but three postwar US presidents have been law, politics, economics or history graduates. Of those who weren't, two were graduates of national armed forces academies, and one (Truman) had no degree. On the UK side there are graduates in chemistry, geography and languages, but law, politics, economics and history still dominate just as they do in the US (classics — which Johnson and Macmillan studied — is a combination of ancient history, languages (Greek and Latin), literature and philosophy).

Re: I’m leaving London for NYC and taking my tech startup

#137

Trying to start a business in the UK: "What are you doing? You'll fail! You'll go bankrupt! You'll be homeless! Why don't you get a nice civil service job with a government pension?" Trying to start a business in the USA: "Rock on, bro! You're going to be the next Zuckerberg/Gates/Bezos!"

Failing at a business in the UK: "Told you so! And now everybody knows you're a failure."

Failing at a business in the US: "Every success has a few failures on the journey : If you have another go, it'll prove that you're a fighter!"

Succeeding at a business in the UK: "Who did you screw over to make that money?"

Succeeding at a business in the US: "Awesome! Let me pitch you my idea..."

Re: I’m leaving London for NYC and taking my tech startup

#138

Earlier quoted context omitted.

How do you manage a company from across the Atlantic? What does your tax situation look like? Do you personally enjoy living in London or are you there in spite of your interests?

1. One day at a time. But in all seriousness, a good co-founder and team. Also, we started the company during COVID which I think made the VCs less worried a about a full remote situation. 2. US citizen but UK tax resident. So two income tax returns. It's a pain, but thankfully the tax treaty means one offsets the other and it works out in the end. 3. Personally want to live in London

Is there anything that specifically prompted you to live in London in place of other cities like Paris, Seoul, Tokyo, or areas elsewhere in the US and the rest of North America? Given what I've read on tax rates, incomes, and QoL (especially after Brexit) it doesn't seem economically advantageous to live there as a tax resident, especially with FATCA hanging over your head.

Re: I’m leaving London for NYC and taking my tech startup

#140
post #48
post #7

Are there any European websites in the Alexa top 50? https://www.alexa.com/topsites For all I know, Europe mostly missed the internet. Will the same happen with AI, data centers, solar, crypto and biotech?

I think there's a difference between where companies are listed/head-quartered and where the work is done (e.g. Google seems to have 4 separate offices, just in London). Or consider India, where huge amounts of dev work is done - but nobody can name an "Indian web brand" (internationally). Only actual European brand I can think of that's made global impact is Spotify. Europe seems to do better on the less fancy consu…

A couple more European examples:

- Wise (formally TransferWise)

- Skype

- Deliveroo

- JustEat

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