A little over a month ago, I wrote about how NYC was poised to make a run at Silicon Valley and how ultimately, the Big Apple would win out. Last Friday, Foursquare pulled a Neil Armstrong – one small step for them, one giant leap for NYC startups. After raising $50 million at a whopping $600 million valuation, they came that much closer to becoming the first $1 billion social media startup in NYC. And once we get one, I think the momentum will increase exponentially. Later that day, Bryce Roberts perfectly encapsulated the feeling I previously wrote about when he tweeted: “cool that NYC founders see the @foursquare funding as a win for the whole city. THAT is why NYC is such a special place for startups.” I described the physical and emotional closeness of the startups in NYC, the ease of communication, the confluence of creative industries. But I forgot one key point – we hate to lose and love to win.
New Yorkers are some of the most competitive people on Earth (and I’m proud to say I’m one of them in that regard), but when it comes to the startup community, we want NYC to win. (Quick side note: This also goes back to the notion of lessening the importance of individual accomplishments, which is why Millennials are the next great generation). Every entrepreneur will poor his/her blood, sweat, and tears into their startup to make sure it succeeds because at the end of the day, it’s for the betterment of the City’s place in the startup world. Foursquare eventually reaching a $1 billion valuation or Tumblr raising another ridiculous round is a proof of concept for the NYC startup. Not only can you come and build a great company here, but it can be a massive, game-changing one, which gives tremendous hope and confidence for all entrepreneurs in the City from the ones bootstrapping in the outer boroughs to the ones pitching at TechStars Demo Day at Webster Hall. Last Friday was an historic day in the NYC startup world, and we at Venturebent are proud to be part of an ecosystem that lauds this accomplishment but knows it’s just a sign that we’re moving towards bigger and better things.
