My heart just about jumped out of my chest when I saw this data. NYC now has more founders building than SF!
Is It Real?
This new data comes from Live Data Technologies. Their data is comprehensive, covering over 7,500 founders.
Itās hard to know how meaningful this information is.
How did Live Data get it? What do they consider a founder?
If they’re talking about just tech company founders, then maybe NYC really is the new startup capital.
But perhaps āfounderā means founder of a restaurant or gym too. In that case, we couldnāt proclaim NYCās victory yet.
I asked Jason Saltzman of Live Data Technologies about it just now ā I hope to hear back soon. š
What Founders Are Telling Me
As much as I wanna rep NYC and NJ, this data doesnāt quite square with what I see anecdotally.
The AI enthusiasm in SF is at a fever pitch. NYC is producing AI companies too, but it feels like a lot fewer.
Some of this may be because SF is a tech monoculture, but NYC is not.
There are great founders here, but theyāre mixed up with bankers and actors and all sorts of people. So, we donāt notice them as much.
The Immigration Factor
Thereās one group that seems especially set on SF: founders from abroad.
Most have no connections to any US city. So when they come, they come to the technology industryās historic home: the San Francisco Bay Area.
It makes sense. And it’s a powerful force.
Immigrants are far more likely to found a technology company than native born people like me.
Can NYC Win?
NYC is coming from behind here, no doubt. But although I hear a lot of people excited about SF, I am seeing some interesting things here tooā¦
When This Week in Startups does its monthly Founder Fridays meetups across the world, each one takes a picture. Afterward, each city posts it to Twitter.
The NYC crowd always seems to be the largest. I was shocked after the first one in February ā our crowd dwarfed SF, Palo Alto, or anywhere else.
I think New York and my beloved Hudson County, NJ are a fantastic place to build a startup.
The talent pool is deep. Every tech company that matters has a New York office.
The investors are here as well. Many major firms have opened up shop here, including Sequoia and Andreessen.
Also, itās much safer here than in San Francisco. I donāt see why someone should have to sacrifice their personal safety to build a company.
Wrap-Up
As much as I want to believe them, Iām a bit skeptical of these numbers. But what I can tell you is tons of great founders are building in NYC.
I love investing in them. I also love investing across our wonderful country.
Hereās to these 7,500 founders ā best of luck!
Do you think NYC can beat SF? Leave a comment and let us know!
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