New York City Is Doomed

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STARTUP 2011 — Marc Cenedella, the CEO and founder of The Ladders, the job site for people looking to make over $100,000, did something few New Yorkers do — but should — he took a look at the city’s budget summary.

After looking at it, he had a really gloomy take away: “We decreased the number of employees we have, but almost doubled our costs, over the past decade.  This way lay bankruptcy, now or in the future.”

We pulled Cenedella aside at the SAI Startup 2011 conference to find out what’s going on with New York’s budget and how worried we should be.

Marc Cenedella is CEO of TheLadders. Prior to founding, Marc was a senior vice president at Previously, Marc was an associate vice president at The Riverside Company, a New York-based private equity firm.