Across the Border
Any venture capitalist worth his preferred stock will get a hangdog look on his face when he remembers the one that got away, especially if “the one” was a chance to invest in Facebook. Now Bloomberg is reporting that the shame of turning down Zuck in 2004–sending him straight to Palo Alto’s all too willing arms–has jolted New England firms awake.
Despite Boston’s claim as the birthplace of venture capital, its share of U.S. VC investments dropped to 11 percent last year, down from 15 percent in 2003. And, as the numbers show, Boston’s loss has been New York’s gain. Seven years ago, New York’s share of the nation’s venture capital was half of Boston’s. But in Q1, venture investments around NYC totaled $580 million, representing 10 percent nationwide, compared to Boston’s 11 percent share with $639 million in deals.
Not to mention New York’s been logging some quality time on the Bolt Bus to raid Boston’s engineers.
So what are New England investors gonna do about it? According to Bloomberg, they’re circling the wagons and heading back to the city.
Charlie Kim knows how to woo young engineers: with war stories of the bubble days!
“During the dot-com boom we went from myself to 150 people,” Kim told students from Harvard, Brown and MIT last week. “By January of 2002 we were down to four people. Should died, but instead bloody noses every day for 90 days, pushed on and grew the company up, we’ll be close to 300 people by the end of this year.”
As part of its blossoming love affair with innovation, the city’s Economic Development Committee is sending an elite squad of start-ups and venture capitalists to Boston this Thursday to try and poach as many talented engineers as possible.
The New York Times has a story today about New York’s efforts to woo a top flight engineering school that could produce homegrown tech talent.
Deputy Mayor for Economic Development Robert K. Steele spoke at the Googleplex, because Google is the kind of Silicon Alley powerhouse New York hopes will take root here Read More
Tech Bubble Watch
There is a serious crunch for tech talent around the nation, but especially in New York, which doesn’t have IPO-friendly firms like Facebook and Twitter.
For Dave Carvajal, this looked like a business opportunity. Formerly an exec at high-end job site The Ladders, Carvajal now runs Dave Partners,a boutique headhunting firm that places engineers, programmers Read More
You can learn a lot about a person by going through his or her web search history. It’s like picking through someone’s trash, but less messy.
A snapshot of the city’s top search terms for 2010 reveals Gotham’s character and preoccupations.
We’re still obsessed with take-out, prone to accumulate parking tickets and always on Read More