The Positives and Negatives of the Tech Boom in NYC

Craig Calderone discusses in his article the Tech boom in New York City and the many changes that have occurred to allow this tech boom to continue to grow. For example Calderone discusses how the Bloomberg administration was the one to begin the shift from a focus and dependence on only the financial sector to allow the tech industry to grow in New York City. Also Calderone discusses the change in attitude with regard to failed startups. For example he states that “Instead of ridiculing founders for their failed startup, founders were deemed ‘experienced’ and asked about when they would start their next endeavor.”. This represents exemplifies the changing attitude of new York, for example no one who launched a failed startup in New York in the financial sector would be considered experienced. Jason Bram and Adam Forman both discuss the Tech sector boom in New York and how this boom has lead to a tremendous increase in the number of tech jobs in New York City. As seen in Bram’s article, while Wall street employment fell by over 11 percent, employment in the tech sector increased by 71 percent.

As we discussed in class when a city is dependent on only one sector of the market, that city is vulnerable and while New York is becoming less and less dependent on the financial sector, the city becomes stronger and it’s economy less susceptible to collapse. How ever we cannot over look the negatives of this technological boom, as many of my class mates have written the increase in these high paying jobs leads to an influx of money in lower class neighborhood which leads to gentrification. This eventually leads to the expulsion of the original residents. Lastly Lawrence Grodeska’s article deals heavily with the positives of technology. Grodeska discusses the many positives that can be brought about with the introduction of “Civic tech” into the government. For example he states with the induction of more and more civic tech, government is more transparent and more effective in providing the services that it’s people require. Not only that but also Grodeska argues that civic tech allows the citizens to be more involved in government. He mention’s many Civc tech “tools” that are used to allow the people to become more involved in their communities. For example Neighborland a tool used to allow civic leaders to reach the residents of a community and inform them. All these tools can be used to greatly improve the way we interact with the world around us but we must also not forget that with everything come negatives. For example while technology in our lives keeps progressing at a phenomenal rate we must allow our laws and law enforcement time to adapt to the changing problems facing our society.

 

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