NYC tech catching up to Silicon Valley, while Seattle flails
There is a lot of hype around emerging NYC tech scene. And this hype has been growing over the last 6-7 years. However, IMO, this is still a largely empty hype, due to 3 reasons
1. NYC hasn't produced a blockbuster startup, nor is there one in the pipeline. I am talking about tech startups >$50bn in value. The next giants are either in Valley (Uber, Lyft, Airbnb) or in China (Didi, Meuitan, etc) or in India (Ola, Flipkart). There is 1 in LA (Snapchat)2. NYC tech portfolio is lacking startups in emerging technologies - self driving cars, VR/AR, 3D printing, drones, robotics, space, batteries and charging, energy3. Lots of high profile failures, but few high profile exits