Hi Paul. Great question. I recently moved from Boston to Cleveland for personal reasons. Someone from Boston sent me your post. "Thought of you...."
To your question, I wouldn't be surprised - on a number of levels. We are surely seeing a massive shift caused by the maturation of IoT, Blockchain, and AI. And the politics of NYC are suboptimal at this point. However, money will always be a center of attention, and so NYC has more resiliency than Youngstown had with the steel industry.
If I remember correctly, another complicating factor for Y-town was the presence of the Italian mafia... Canfield seems to ring a bell in that context.
Possible good news though - we're working on a 5-year mission to make Northeast Ohio into a global hub for IoT manufacturing.
I heard you were out here trying to start something around GenAI. Let's partner.
Mike, thanks the comment. Ohio and Northeast Ohio is dear to me (I grew up in Canton, Ohio; went to college at Kenyon College near Columbus, lived in Lakewood for 3 years after college; and still have family in NE Ohio. Cincy did a great job with "AI Cincy Week" maybe same in Cleveland. Maybe an organizing intro call Zoom call to test interest?
No. Majority of this city is built on wage workers. I have been here since 1980s. Then you have tourists. Then you have NYU and Columbia that own majority of real estate by SQ footage. Then you have mag 7 that have HQ here. Then you have tax benefits for wealthy to park money in. 20M 4 bed apt and pay the same tax as a 4 bedroom avg tax across all 5 boroughs. The reason majority of wage workers can't ever leave is they are suppressed by crushing taxes and govt programs to just get by.
Like the idea, and I'm from Pittsburgh, so similar and different. As a current NY'ed what I see is FTE RIFs, but also massive upticks in productivity (by less people). Like many other super trends, it will depend on who is willing to keep up. I always think NYC will be a leaky bucket of migration, but in reality the worldwide funnel is so big it seems to never empty.
Hi Paul. Great question. I recently moved from Boston to Cleveland for personal reasons. Someone from Boston sent me your post. "Thought of you...."
To your question, I wouldn't be surprised - on a number of levels. We are surely seeing a massive shift caused by the maturation of IoT, Blockchain, and AI. And the politics of NYC are suboptimal at this point. However, money will always be a center of attention, and so NYC has more resiliency than Youngstown had with the steel industry.
If I remember correctly, another complicating factor for Y-town was the presence of the Italian mafia... Canfield seems to ring a bell in that context.
Possible good news though - we're working on a 5-year mission to make Northeast Ohio into a global hub for IoT manufacturing.
I heard you were out here trying to start something around GenAI. Let's partner.
Because, "All boats rise with the tide."
Mike, thanks the comment. Ohio and Northeast Ohio is dear to me (I grew up in Canton, Ohio; went to college at Kenyon College near Columbus, lived in Lakewood for 3 years after college; and still have family in NE Ohio. Cincy did a great job with "AI Cincy Week" maybe same in Cleveland. Maybe an organizing intro call Zoom call to test interest?
No. Majority of this city is built on wage workers. I have been here since 1980s. Then you have tourists. Then you have NYU and Columbia that own majority of real estate by SQ footage. Then you have mag 7 that have HQ here. Then you have tax benefits for wealthy to park money in. 20M 4 bed apt and pay the same tax as a 4 bedroom avg tax across all 5 boroughs. The reason majority of wage workers can't ever leave is they are suppressed by crushing taxes and govt programs to just get by.
Like the idea, and I'm from Pittsburgh, so similar and different. As a current NY'ed what I see is FTE RIFs, but also massive upticks in productivity (by less people). Like many other super trends, it will depend on who is willing to keep up. I always think NYC will be a leaky bucket of migration, but in reality the worldwide funnel is so big it seems to never empty.