Answer by Terrence Yang, CEO, Precelerator.com & Yang Ventures, on Quora

Here are the types of startups a founder should choose to start in New York instead of going to Silicon Valley:

  1. Your network is much stronger in New York than Silicon Valley AND that is relevant for your startup. For example, if you are coming out of Goldman Sachs and worked closely with their excellent IT department, the folks in that department and their friends will be your best source of hires for engineering talent.
  2. You are mean and impatient, I mean you are straightforward and direct. When I first worked in New York, some people thought I was from California. No one meant it as a compliment. When I first moved back to California, some people thought I was from New York. No one mean that as a compliment either.
  3. You want to do fintech in a way that partners with banks rather than disrupts them.
  4. You want to do fashion tech. New York and L.A. dominate fashion in America.
  5. You want to do adtech in a way that partners with ad agencies.
  6. You want to do lawtech or management consulting tech in a way that partners with big law firms and management consulting firms.
  7. You want to do hospitality tech in a way that partners with the best hotels in the world.
  8. You want to do media tech. New York leads in traditional media.

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Published on: Apr 1, 2015