What each offers is a specific gift of the ecosystems of people and practice it has nurtured. Once deep communities of interest and industry form, they are difficult to dislodge, and they prove nearly impossible to replicate. New York leads the world in finance. San Francisco and Silicon Valley lead the world in technology. New York has tried hard to take Silicon Valley’s crown. But if you look for multibillion-dollar technology companies in New York, you will find few of them. Where New York City has seen technological success is where code serves finance: Bloomberg is a multibillion-dollar
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