The following Medium post does a terrific job of unpacking why NYC has raced to 2nd place behind Silicon Valley as a startup city. Sandi McPherson outlines whats required to build a vibrant ecosystem and points out that NYC's biggest accelerant has been that winners are cycling back in both their cash and their talent.. London take note.
One thing to note — NYC has a smaller number of late-stage startups and mature tech companies with hundreds of employees. It’s a potential reason why NYC’s big success stories (like Etsy or Shutterstock, each with a market cap just below $2 billion) are lagging behind the success stories of Boston, Chicago, Seattle, and L.A. So… how has NYC been able to push ahead? And what counter-intuitive events have potentially been missed when we think about the bits required to build a strong startup ecosystem?