More attention/press on the Silicon Valley/New York innovation dividePosted: March 29, 2012
Both NYConvergence and Capital New York have picked up stories featuring the cultural divide that forms the basis for Silicon Valleys consistent relative dominance in technological innovation over New York:
In today’s Daily News, Silicon Valley venture capitalist Victor Hwang argues that in order for New York to compete with Silicon Valley—something Mayor Michael Bloomberg would very much like to see happen—it needs to become less of a dog-eats-dog city.
According to Hwang, Silicon Valley’s success comes from a spirit that is not yet ingrained in NY. The Valley’s culture encourages people with diverse skills and experiences to meet and trust each other, to take a risk together. Though Hwang acknowledges that NY may be revered as the cultural capital of the world, establishing the next Silicon Valley requires a new culture to take shape, one that becomes a beacon of trust rather than suspect. Ultimately he feels that the startup community in NY is working to build that culture, but it needs more of the city to join them in order truly to evolve.
What do you think, can New York replicate Silicon Valley’s success?