Article tries to analyse why NYC is jumping spots on the top ten US startup cities list (Up to 2nd from 5th) and also what went wrong for seattle.
Article concludes that while its conventional wisdom that successful IPO's and exits help the ecosystem, in the case of NYC the opposite is true.
Failure of big startups like Fab put people back into the ecosystem who then built new companies and helped scale other growing startups. People who were previously at Fab have gone on to build some of NYC’s hottest startups from theSkimm to General Assembly to ClassPass.
Employees from FourSquare and Gilt are now in senior roles at NYC breakouts Buzzfeed, InVision, Betterment, and DigitalOcean.
While in Seattle risk averseness of tech talent, lack of capital compared to SV/NYC and unsupportive investor base are leading to it falling down places.
Original aritcle: 1950 words (10 minute read) Summary: 140 words (less than a minute)
Summary does a good job of covering the main points of the article but there are more issues that the author goes into. Reading reccomended if you are intrigued.
If you'd like such summaries for all articles before you invest your time to read them check out: https://news.ycombinator.com/item?id=11535695