Work is changing profoundly and NYC will not be able to adapt
nydailynews.com
nydailynews.com
New York City has more millionaires than any other city. But the average New Yorker isn't a millionaire. These changes are bad for millionaires and partially caused by their exodus already. The people who stay will have an easier time affording their homes and starting their small businesses. That doesn't sound like the end to me.
"1 percent of New York City residents generated 43 percent of city income taxes"
While I am not saying the current rate is fair or perfect, to say that the city wouldn't be hurt by losing tax revenue ignores the fact.
Not saying the cuts need to come from that segment, but let the sheer size of some of these budgetary items sink in.
Are you sure? You didn't mention any other segment.
https://www.sanfranciscopolice.org/sites/default/files/Docum...
It was 96Bn last year minus the 8Bn in cuts as a result of the decrease in revenues occurring due to the pandemic.
The NYPD, again off the top of my head, is about 7% of the annual budget?
A far cry from many American cities which can spend between a quarter and a half of their budgets on policing (see Chicago, and LA for examples).
But, there may still be wiggle room. I was pretty disgusted by their actions during the protests personally what with the shoving women to the ground hard enough to cause seizures and concussions, the driving vans into protesters, and whatnot.
Also the discriminatory policing in mask enforcement. There’s gotta be a better way. I’m very curious about the efficacy of their anti terrorism efforts but have no data or really any idea on what they’re doing in that regard.
The city is certainly safer than it used to be although violent crime seems to be ticking up nation wide, which I presume to be because everyone’s home rubbing shoulders in their neighborhoods instead of at work.
Lots of variables in play.
With servicing meaning: short term housing for the duration of the homelessness, medical care, counselling, labour force training and placement, employer and landlord subsidies for the first six months of employment/housing contract etc.
Color me skeptical that NYC has the electoral will to make wise fiscal decisions going forward.
[1] http://blogs.reuters.com/david-rohde/files/2012/01/middle_cl...
In particular, the following is more informative and doesn't rely on a zoomed-in axis to emphasize the change over time: https://www.pewsocialtrends.org/wp-content/uploads/sites/3/2...
It's also adjusted for household size:
> In this report, “middle-income” households are defined as those with an income that is 67% to 200% (two-thirds to double) of the overall median household income, after incomes have been adjusted for household size.
College is the most social environment imaginable:
- In class with lots of people
- Encountering people you know between classes
- Clubs and social groups
- Communal studying
- Living in close quarters with friends and others
- Eating meals with others, etc.
Just an endless list of opportunities to socialize and interact.
The idea that college graduates will want to make such a transition from the most social environment possible to working from home, alone, for 8 to 10 hours per day, seems very strange to me. I think anyone who has onboarded a new college grad hire (like myself) during this time would attest to this.
It's the worst.
Human interaction is as much non-verbal communication as verbal communication, and video conferences and slack leave a lot missing there.
I'd hardly say this is far to the right of, say, the Biden campaign.
I get that _some_ people who had plans to enjoy the growth pattern of NYC for many decades to come are now faced with this "black swan" and don't know what to do to keep their forecast earnings. But overall, the societal pressure to urbanize will continue. If anything pandemic just is making the true costs of dignifying urbanization more clear.
This is mostly from Wikipedia:
He previously served as the campaign manager for New York City Mayor Michael Bloomberg's 2009 re-election bid, as Deputy Governor of Illinois, as Communications Director for US Senator Chuck Schumer, and as Uber's first political advisor.
In 2015, Tusk ran a high-profile campaign featuring TV, radio and digital ads, direct mail, grassroots outreach, earned media, social media and mobilizing community leaders to oppose New York City Mayor Bill de Blasio's proposed plan to cap the number of vehicles Uber could operate.
The campaign argued that "the company was good for the city, providing jobs and transportation for less affluent residents in the outer boroughs." The bill was dropped before it could go to a vote. Tusk Ventures was launched two weeks after the Uber victory.
Tusk Ventures has worked with over three dozen startups including Bird, FanDuel, Lemonade, Handy, Eaze, Nexar, GlamSquad, Ripple, Nurx, Ro, Kodiak Robotics, pymetrics, Grove and Care/Of, solving a variety of political, regulatory and media challenges solely in return for equity in each company and for investment rights in each company's next round of financing.
Companies in relatively new industries that only need to hire a few experts do not need urban rents: They can attract people from afar and hold that talent hostage in a small town, because the options for employment in the field are limited. This describes both classical "company towns" with dorms and factories and companies that emerged in the consumer software boom of the 80's, for example Sierra Online was HQ'd in Oakhurst, CA, a town of a few thousand people in a region with about 10,000.
The maturation of a competitive industry gradually pools the talent into an urban center, as hiring demands increase, more managerial and financial elements are needed and more of the workers hop between companies. Sierra moved to Bellevue, and then to LA during the 90's amidst a flurry of mergers.
Companies that occupy monopoly positions don't experience the same pressure to move or change. Epic Systems, a contemporary to Sierra, still has its HQ in Wisconsin, and its company culture has resisted work from home.
And work from home is a kind of last step in enlarging the worker pool, since the online world effectively represents the "world's biggest city" - a vast, unknowable thing that we have barely begun to tap into. It does not have the exact form of a physical megacity takes, but in terms of building strong networks that generate productive relationships, it can supplant physical presence in many instances. Plus, the rent is very low, so everyone can move there.
The core premises of the megacity still hold validity. Not everyone is an office worker or a multimillionaire, and we continue to have many occupations that benefit from local connectivity and physical presence. But the megacity as a speculative playground, where the real estate market is used to stash wealth, might be done. The playground relies on growth keeping up with debt, but as debt piles up you get zombie companies. Japan went through this in the 90's, and everyone else may be catching up now.
Uh, is that really what New Yorkers tell each other?
But they actually have a case. Honest question: Which city do you think is greater than New York? Is it clearly greater, or is it fuzzy and subjective? And if it's clear, what makes it clear?
I have absolutely no desire to ever live in New York. But I can see how they can make a case.
There are “megacities” in other countries that occupy a similar position, such as London or Tokyo (although they obviously all feel different in their own unique ways).
In the United States, however, the closest thing to NYC is Los Angeles and even that is spread out over so much additional area (much of which requires a car) that I don’t consider it necessarily comparable.
If you want something that tries to be a bit more objective (although I’d stress that trying to rank something like “greatest city” objectively is probably not possible), check out the Wikipedia entry for global city rankings[0].
New York City trades places with London, and once with Tokyo, but otherwise is not terribly contested.
Obviously I’m biased because I live here (and stayed here through the worst of COVID), so take what I’m saying with a grain of salt.
[0]: https://en.wikipedia.org/w/index.php?title=Global_city&mobil...
Both California and NY suffer from fiscal mismanagement and large looming retirement crises and other costs. Why stick around to fund the inevitable tax increases if you don't have to? Both states will attempt and fail to establish something like an exit tax. Cities and counties can go bankrupt. The Federal government has a printing press. States have neither option.
California may be in even worse shape than NY - it is going to get progressively more expensive to recover from fires. Why pay the bill? Just move away. If you stay, you run the risk of having your financial independence taxed away and then you can't move.
In other words: fuck you and your privacy regulation.