Never confuse being a large fish in a small pond vs being a small fish in a large pond. The former defines the area, i.e. technology and Silicon Vallery. In the later situation, Silicon Alley will never get the respect as the areas defining industry. Truth be told there are probably five times as manay technology workers here then there. They are just absorbed into larger entities and do not get the press attention.
Does anyone know the second largest industry in Silicon Valley today? Do you know what used to be the largest industry in Silicon Valley? I dont know the answer to the first question but i know that fruit orchards used to be the largest industry in Silicon Valley.
Thirty years ago i read a book called “The Entrepreneurs Manual”. One Texas investor would never invest in New York because of the additional cost. Period. He questioned why anyone would start a NYC based business.
There is only one reason you have to be in New York. Your customers are here. You don’t have to write code here.
If you are customer facing and your customers are in NYC you have to be here.
Wall Street has outsourced most of its back office functions to lower cost areas. So have the banks.
Personal reasons? You should be so lucky. If you are here you should really want to win and win big. Those who succeed aren’t necessarily the best they just want it more.
In the last twenty years NYC rents have increased eight times while saleries have increased less then three. Will there be an entire generation of NYers who will never buy a couch? Have a living room? Does living in NYC mean you work in NYC but commute 1+ hrs one way daily. Paying dues are one thing but to what end.
The biggest supporters of New York are the real estate people. They can’t move their assets. Its economics. It works for them, it doesnt have to work for you. They don’t have a choice, you do.
Reality is everyone who does something in demand and do it well will always be able to afford to live in NYC. But you don’t have to be here. Sure its the energy capital of the world. And thats a high.
Most people who live and work in NYC don’t have the time to enjoy it.
When times get tough and they will jobs will leave NYC for less expensive areas. It happens before and it happens more often then you think.
Ive lived or spent considerable time in Boston, Washington DC and state, Portland Maine and Oregon, Los Angeles and San Francisco, Miami, Chicago, Houston, Dallas and Austin. No place has the energy of NYC.
Many friends, former New Yorkers, reside in these places.
You don’t have to be here. But if you area n energy junkie I havent found anywhere in the world with similar energy and intensity.