In digital business, location, location, location matters

Graduate | Apr 11, 2017 | admin

“Only in New York.”

This oft-quoted phrase can refer to anything from an amusing occurrence on the subway to an expensive meal in Brooklyn. When it comes to digital business, “only in New York” describes the unique culture that spurred the city to become a hub for it.

At a recent Silicon Alley panel held by the Digital Business Society, industry leaders shared their stories about carving out a career on the East Coast.

Panelists were: Norman Pearlstine, vice chairman of Time Inc.; Paul Cimino, internet entrepreneur, strategic advisor, and co-founder of Brilig and Snickelways; and Jim Spanfeller, founder and CEO of Spanfeller Media Group.

All three panelists emphasized that New York City became a center for digital business because there’s no other place housing so many resources and attracting so much talent in the finance and media fields.

But the question on many students’ minds was: What’s the advantage to having a business located in New York rather than in Silicon Valley?

There are pros and cons to both, though panelists noted some overarching trends: the East Coast is a great place to get your start in media, marketing, and PR, and the West Coast trends more toward technology.

While there are reasons for choosing either location, there’s something about New York City that causes so many ambitious business people to flock there. As Cimino reflected, a community needs three types of people to succeed: “the geeks, the freaks, and the suits.”

New York has them all.