[I]nvestors are still betting on the city. The amount of venture, angel and private equity money invested in New York soared about 200 percent from 2009 to 2013, to $3 billion from $799 million, according to CB Insights, a data analysis firm that specializes in venture capital trends. Silicon Valley, by contrast, took in $11.4 billion in 2013.
“There is a clear consensus that we are witnessing our second tech bubble in 15 years,” said Mr. Einhorn of Greenlight Capital Inc. “What is uncertain is how much further the bubble can expand, and what might pop it.”
Mr. Botha said he had not seen anything to discourage him from thinking that New York would eventually end up an important hub of the tech industry.
He described the current bubble as “an echo of the previous tech bubble, but with fewer large capitalization stocks and much less public enthusiasm.”
March 9th, “Is San Francisco New York?“:
It’s hard to pinpoint the exact moment that San Francisco morphed into bizarro-world New York, when it went from being the city’s dorky, behoodied West Coast cousin to being, in many ways, more New York–ish than New York itself—its wealth more impressive, its infatuation with power and status more blinding.
A grand, subtle, masterful psychological war playing out right beneath our noses, just behind our phones. Who knew!