Michael Bloomberg: London and New York can overtake Silicon Valley
Former Mayor of New York thinks New York and London have something Silicon Valley doesn't
To be a tech city you need the infrastructure, you need the environment to attract people and you need a diversity of people.
London and New York have that. Silicon Valley does not.
Those were the words of Bloomberg founder and former Mayor of New York Michael Bloomberg when he spoke to Tech City News during London’s inaugural Technology Week.
London & New York, a tale of two cities
The former mayor declared London and New York have the ingredients that will see them flourish as digital cities of the future.
I think there’s an awful lot of people in tech who want a bustling, diversified, and intellectually stimulating environment and that’s why they would go to the big cities of London and New York.
He added that while both cities are in competition, there is also a lot of collaboration between the two as well. Any successful tech startup will ultimately have an offices in both cities.
Taken together, London, New York City, and San Francisco account for 41 percent of the job growth in the American and UK tech sectors combined over the past four years.
Bloomberg Tech Summit
The American business magnate was in town to launch the inaugural event and attend the Bloomberg Tech Summit.
The summit brought together more than 30 leaders in technology and business, including Baroness Martha Lane Fox and Sir Tim Berners-Lee.
It sought to identify the best practices of cities like New York and London and to develop lessons that other cities may follow as they seek to grow their technology sectors.
The job generator
Bloomberg hailed tech as the next generation’s job creator.
People are going to need jobs. Those jobs are going to be in tech so people have to get the skill sets required to fill those jobs.
He did however warn that starting a tech company is not a guaranteed means of income and that the ‘tech dream’ of being the next Mark Zuckerberg is akin to winning the lottery.
Tech City News will be recording documentary on the move of British startups to New York this August. For more details follow us on Twitter.