What New York can do to an entrepreneur
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- čas přidán 15. 06. 2024
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Before you guys jump at me, I'm not saying there's no venture capital in NYC. There are veteran companies such as Blackstone Groupe and Compound that have existed for years, and they've moved plenty of dough.
The only thing is that it's nowhere near the amount of money the West Coast moved. More specifically, the central business place is the Bay Area.
There are many top tens out there, listing the most crucial venture capital firms in the US. Read them, and you will find that a good 70% to 80% of those are from the West Coast.
These firms move big bucks. Companies such as veteran Bessemer Venture Partners had around $5 billion in 2021. Speaking of tradition, this company has existed since 1911, taking up Venture Capital in 1975.
Another legendary VC firm is Andresseen Horowitz, which came to life in 2009. Also known as a16z, this firm has over $16 billion in assets.
We can't deny it: VC loves California.
The reasons why are plenty. We could say that the state has a great culture for creativity, with heaps of talent. Plus, the state has the ideal infrastructure and funding for growth.
But, one of the most significant factors is tradition, and even this is controversial. After all, the fathers of Venture Capital come from Boston, according to some. It's just that Silicon Valley is so important in many ways that people just gravitate towards it.
Silicon Valley became the obvious choice with the boom in technology companies in California during the seventies and eighties. Many of these companies gave terrific returns.
So, this, in turn, meant that the first Venture Capital firms started out in California, as far back as the seventies, to take advantage of this boom.
Tradition is hard to break. After all, why leave if all the money is there? Well, because it's not like California is perfect. First of all, it's expensive as hell to live there. Rent increases, and then, its taxes are amongst the highest in the country.
Even Silicon Valley has taken flack, with more and more reports on its toxic work culture. But, none of these things are absent in New York. After all, it's also expensive and hectic. So, what gives?
And the numbers show that the interest has had an effect. By September 2021, start-ups in New York City had seen investments of $39 billion. This number shatters the previous record by 154%.
When it comes to unicorns, this year, NYC reached 56. In fact, 2021 has been a year of changing momentum. Crunchbase data shows that the dollar amounts led by New York-based investors are close to equal that of California.
Combining New York and California, they make up for 54% of the venture dollar volume in the entire country. Not only that, but some New York-based companies have seen the highest IPOs in recent years.
Tiger Global Management is New York-based, and it has grown 289% compared to 2020 and led the deal counts by September 2021. The second place was Insight Partners, and they're from New York as well.
So, it's clear NYC is wheeling and dealing, but why? Why this migration?
Why is VC choosing NYC?
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0:00 Crowdfunding - Intro
0:42 Crowdfunding- Reward-Based
4:14 Crowdfunding - Equity
5:45 Crowdfunding - Equity crowdfunding problems
6:55 Crowdfunding - Equity crowdfunding and new solutions
8:30 Crowdfunding - Examples
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/ caya_here - Věda a technologie
Worked in NYC from 1986-1988 starting my IT consulting business. Sort of liked it and tend to agree with the statement that NYC is the centre of the universe. Fun as long as you can stay on Manhattan.
That warmth and sincerity you talked in this video was, is and will be a must needed for a lot of entrepreneurs; Thanks a lot for it, I didn't know I needed that message that much. Gracias Caya, te la vacilas un montón! Sigamos Pa' lante! Te mando los mejores deseos para todos tus proyectos 💪🏻
I love this video. I have aspirations to move for some time in the USA but this video just eliminated my doubts. Thanks Caya & the whole Slidebean team for the video.
Really appreciate you making these videos to keep us motivated. I’m on my most recent entrepreneurial try here in he city and it really helps.
Congratulations, Caya! Awesome video, as always! Thank you!
Best content strategy ever! Love ur content, love ur message, also being a latin entrepreneur as a I am I truly resonate with your stories about your life path, it’s so inspiring and instructive at the same time. Gracias de verdad 🙏🏻
Great advice! Thanks for keeping it real!
Great video @Caya. Did not know about sleeping in the office. Sorry you had to do that but LOVE IT! A true entrepreneur and doing what it takes!
Enormes respetos al ver la dedicación y el sacrificio que has puesto en tus emprendimientos man. Mucha suerte. Gracias por el vídeo.
I just love the content from your channel.the stories, the editing is all smooth,they are really great.
Glad you like them!
As a business student at NYU Stern, I had no idea you lived here Caya! Hope to see you around!
Hayden Hall FTW. I think I was 1403 or 1413. (Renamed to Lipton recently).
Thank you for sharing your story and experience.
That was a fun summer, good to see you Caya!
Very insightful video caya. Congratulations
Great video Caya and Slidebean team :)
Moving to NY in a few weeks. Thanks for this video! Amazing story!
Good luck!! New York is a great city
Great intro!!
At some point in life you can always become a film/documentary producer/creator. Nice video! 😄
Great video!
love this!!
I can't believe Slidebean only has 330K+ subscribers as of now. Underrated.
Go Caya! Proud of you.
2021 might be the top year for Startups since as the Nasdaq stock market goes so does funding for tech startups
Touching video.
Heck of a Journey!
Great Video Caya !
NYC is great for startups, but I have been hearing about too much high taxes on both corporate level and personal level on New York. Can you help explaining how taxes differ between various states in the US (e. g. NY and Texas) for a startup ?
That’s a great question
simply inspiring.
Caya, wonderful video man. If you’re near Williamsburg, come to Class & co and meet a fellow founder for coffee. Much love. Pirro
Caya out here looking like Taj Mowery as "Smart Guy" in his original 10 year challenge picture.
thanks for sharing
Thanks for watching!
Lol can slide bean talk to Luis Rossman just once?
Man oh man tha weekend look super high
I lived in my office for a year!
Glad to be in Toronto; centre of the North :D
Office Hours! And thanks for the great video :)
Love it
I agree with your facts, I disagree with your interpretation.
The accelerators, people, and maybe gov help, are all good pros.
But the rest of the things you said are bad.
And do the benefits really overcome the cons like high rent?
I'm not sure that's always true.
Especially with more and more people comfortable being remote.
It's sound like starting there helped you, but staying there is not.
Great video Caya!
In contrast. What do you think about location-agnostic startups?
You know, operators moving from city to city, team all over the world, etc.
Wooah! That’s a question. I’m cooking up a video on it 😬
@@cayahere great, cool! Slidebean notifications on! 🍿
Inspiring! But why did you leave ny for the bay area?
We didn’t. We spent a few months in Mountain View as part of 500 Startups, but came back to New York/Costa Rica after.
"Center of the universe" LOL LOL LOL
5:20 this is literally my life rn😪😔
I am in line
I'm a founder in Virginia and I've been taking a harder look at taking a trip to NYC in recent months. This video may have finally convinced me to go through with it!
Yeeesss! Let me know when you’re in town 🍻
As a tenant accepted to every incubator I'd applied to in NY and having been involved at a prototypical Start-Up NY program, I can tell you that everything upstate is absolute BS. Can't speak for NYC but I'm sure it's the same.
"To combat this, Cuomo touted his Start-up NY program as a “game-changing” panacea to “supercharge” the economy. But after creating just 408 jobs in its first two years, the press now calls it “pathetic.”
As a state audit proved, the most egregious part of StartUp NY wasn’t even its failure. Rather, it was the governor’s $200 million outlay of public money on ads touting the program’s, and his own, success."
Of course, the ads coincided with his re-election campaign. He was investigated, but like everything else Cuomo related, I don't think anything came of it.
What's office hours?
Harder to find a hairdresser in NY than Costa Rica =) Same thing every Western city.
I think maimi is up am coming for VCs
Welcome to New Yooooork concrete jungle where dreams are maaaaaaddde ooooooofff
Songs?
Everything is new
Louis Rossmann would dislike this video 😂
Why tho?
@@cayahere For startups, NYC is the place to be. [TLDR; he dislikes NYC not your vid lol] Rossmann runs a computer repair shop, a more “traditional” type of business. On his CZcams Channel he has documented his bureaucratic and dysfunctional experiences with the NYC departments and local real estate. One (of many) examples is his video “NYC DOESN’T KNOW ITS OWN LAWS!” Where he calls the City Dept. of Consumer Affairs for a clarification on a law, and the city cannot answer him. (3:10) He has since moved to New Hampshire and is looking for ways to move his business. CZcams: Louis Rossman. Awesome video btw
Texas?
Yay!!
1:26 "the center of the universe is here". Really? Now I definately don't want to go there, and I'm sure Carl Sagan would've had something to say about that
Miami is the new hub
You think? 👀
How lucky for him that tech crunch covered his brilliant idea for a game lol smh investors came knocking on his door for the billion dollar idea. He got lucky he was able to get nyu dorms. Maybe if you rub his head you will get this lucky
As a European I can only get 3 months of staying in USA anyways.
Terrible for cryoto startups-the bitlicense all but precludes it from making sense to come here
I hate New York because I was depressed for no reason while I lived there.
You look very tired my dude and you have for a while now. Hope you get some rest.
See caya😂
Didn’t know you were Chinese back then. Those lovely soulful ‘oriental’ eyes.. Caya, how did you transform? (Just friendly banter! My bad! I have nothing but respect fo you as an entrepreneur )
Maybe now people won’t assume I’m high all the time.
@@cayahere 😂😂😂
👌
If the word that you use to describe New York is “alive” then you really need to get out into a forest and get the TRUE meaning of that word.
'cockroach mode'
Hii i am first .. office hr
You got short changed? 😶
👍
That's funny
You looked depressed
👍👌
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This should be on a personal vlog not on this channel.
It might soon be.
why?
@@eliastouil7686 we're experimenting with the format a bit. This video is the first of a few travel+vlog+startups video we are producing.
Beyond that, I'm looking to revive my personal channel this year (this one).
@@cayahere I think the video is okay on this channel.
I think it's good to have this video on this channel. I probably wouldn't have seen it if it was on a personal vlog. If you don't like these personal videos there's an easy way to solve this problem, don't watch the video.
😂🎉❤
👊 P r o m o s m!
U look sad what's up ?
👍