New York won’t overtake San Francisco in innovation.
The west coast has an “eco-system” of 5th or 6th generation startups that creates more opportunity for innovation development, while New York is at its 2nd and 3rd round of startups.
Another reason New York is lagging behind Silicon Valley is its large financial sector, which attracts much of the talent away from startups, says Gilt Groupe founder Kevin Ryan.
In July, we interviewed Kevin Ryan as part of our series on Innovation. Kevin is the former CEO of DoubleClick and the co-founder of Gilt Groupe, The Business Insider, and other companies. This clip is a segment from that conversation. The whole interview can be be viewed here. >
Production by Bright Red Pixels.
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