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Michael Bloomberg: London and New York can overtake Silicon Valley

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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.

He explains:

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.

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  • It already has… 🙂

  • London and New York, my two favourite places!

  • yas

    “: Michael Bloomberg: London and New York can overtake Silicon Valley – http://t.co/6X96UuftZi http://t.co/LTbJCtRxLE”

  • Chris Burns

    What a shock! Londoners and New Yorkers think that London and New York are the place to do business!

  • Jay

    Mike Bloomberg is a fool. Aside from supporting war crimes in Israel and disregarding public safety with his recent FAA stunt, it’s ironic he was just in Silicon Valley recently pretending that he needs the talents of developers to join Bloomberg and how amazing Silicon Valley is…guess that was just propaganda and further proof that you can’t trust anything he says.

  • Jay

    Silicon Valley is an ecosystem that cannot be “overtaken” but that doesn’t mean NYC or London can’t be great tech centers. It just shows his foolish ignorance of understanding what makes an ecosystem. Mike Bloomberg is a frustrated old man with massive wealth who doesn’t know how to shut up.

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