This post would have made much more sense had it been written in 2007. Three years have past and the community has grown. His arguments are based on anecdotes and outliers from a bygone era. He fails to mention that yea there are a ton of hedge funds in nyc - you can start one in your basement with about a million bucks.<p>It would have been worth mentioning that NYC seed is a public private partnership that includes a mentoring program and that there are hundreds of millions(if not billions) of dry powder in vc funds here that are just about ready to start investing heavily again.