Daily Report
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A few years ago, officials and executives in New York proclaimed their ambition: to build the city into a powerful hotbed for tech innovation. Officials funneled money into start-up incubators and approved a bid from Cornell University to transform Roosevelt Island into a two-million-square-foot, next-generation technology campus to rival Stanford's. Social media darlings like Foursquare, in downtown Manhattan, and the crafts retailer Etsy, in the Dumbo neighborhood of Brooklyn, were hailed as surefire breakouts. |
Since then, money has poured into the city's tech sector - not as much as in Silicon Valley, but at a faster clip. Dozens of homegrown tech companies have attracted millions of users. Start-ups connected with New York's major industries like media, advertising and commerce are finding particular success. |
But no New York start-up has been a breakout hit, the sort of blockbuster with a multibillion-dollar valuation that has become so commonplace in Silicon Valley. And that has led to some disappointment for people who helped set the city's sights so high. |
"The hype has definitely died down," said David Tisch, an investor and a co-founder of Techstars, a start-up incubator in New York, where he was formerly a managing director. "It's harder to point to one thing and say, 'that's New York tech.' " |
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From The Times
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In a Stock Trade, It's Man vs. Machine | An investor used an interactive voice response system to sell just a few shares of stock in his company. But, he contends, the system misheard him and sold all of them.
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The Elegance of Clattering Machines | The exhibition "Click! Clack! Ding! The American Typewriter," at the New Britain Museum of American Art, tells a story about the incremental way in which technology progresses.
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Feuding in 140 Characters | Does the medium by which we hold grudges and wage feuds affect the shelf life of those grudges and feuds?
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Best of Scuttlebot News from the Web, annotated by our staff
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