in 2008, the administration of then-new york city mayor michael bloomberg recruited steven strauss, an american economist and former mckinsey & company management consultant, to oversee a series of research projects looking at the future of new york city's economy in the context of global economic trends. the analysis concluded that new york had significant opportunities in the high tech sector and recommended a series of initiatives to better capitalize on these developments. these recommendations included, but were not limited to: creation of a string of incubators, an early stage investment fund, nyc big apps. the success of these recommendations would hinge upon quality and quantity of technology talent in new york city.