Silicon Alley: The Rise and Fall of a New Media District

by Mich Indergaard

The 1990s dawned with a belief that the digital revolution would radically transform our traditional notion of cities as places of commerce and industry. Many predicted that digital technology would render cities--or at least their economies--obsolete. Instead, precisely the opposite happened. The IT-intensive firms of the new economy needed to be plugged into a sizeable network of talent, something that established cities like New York and San Francisco provided in abundance. In addition to creating new types of jobs and luring thousands of workers back into the city, new media districts created a new technobohemian urban culture. With vignettes of the high-rollers in New York's new media economy and stories of wild parties in downtown lofts, Michael Indergaard introduces us to the players in this new economy, and explores this intersection of commerce and culture in 1990s New York. He also reveals how the dot-com crash laid bare the hidden connections between the so-called new economy of new media, and the ages old engines of New York real estate speculators and Wall Street. Chronicling the go-go years and ultimate crash of the new media district, Silicon Alley is a brilliant account of how hype forged a marriage of technology and finance, which in turn generated a new urban culture.

236 pages, Hardcover

First published January 1, 2004

Reviews

[Gabriel · Rating 4 out of 5]

I read this book back when I was in NYU from 2005 to 2007.
It explains what caused the fall of NYC's "Silicon Alley" clearly and concisely during the mid to late 90s. Though in some parts it's a bit heavy handed. It lays bare the faults from socially immature & arrogant hipsters-to-be and how the very same arrogance practically hypnotized investors into making stupid decisions and wasting money.

HTML raves? Coding parties? Meetings held on a skate ramp in a warehouse loft? Idiocy. So much for the quaint notion of a "digital revolution." What happened? Well NYC is 5 yrs. behind SanFran, Seattle, Portland, Boston w/regards to the ever evolving nature of social media.

I've read this book at least 7 times since I got my hands on it back in 2005 and I never cease to be amused by the arrogance of HTML jockeys back in the day. Seeing some of the names brought back fond memories while others caused my bile to rise. It really was the best of times, it was the worst of times.