MIPIM Proptech New York: A new breed of tech companies is set to emerge as the days of unregulated growth are “done” and Silicon Valley faces increasingly stiff competition from New York, according to Julie Samuels, executive director of Tech:NYC.
The former executive director of Engine took to the stage at the event to talk about the power and experience of New Yorkers when it comes to dealing with the challenges of operating in a regulated environment where competition is fierce.
“Right now the Valley is ahead of [New York],” she said. “But the next breed of big tech companies will absolutely do better here than on the West Coast.
I don’t think it is a case of New York against the Valley. It’s New York against London
“The last generation of last really big tech companies were built in vacuum. Regulators weren’t paying attention. Competitors weren’t paying attention. Those days are gone. You can’t build a tech company now without people noticing very quickly and you need to know how to navigate thorny situations like handling competitors and regulators. We are good at that here in New York.
“Those days of being in a vacuum we’re good for what they were. But I don’t think the Googles and the Facebooks could have started here back then and they definitely couldn’t now.”
Speaking to EG, she added that rather than the East Coast/West Coast battle, the age-old rivalry between New York and its European counterpart was one to watch instead. “I don’t think it is a case of New York against the Valley when it comes to tech actually. It’s New York against London.”
To find out why, listen to the full podcast with Samuels here.
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