By Michael Indergaard
ISBN-10: 0415935717
ISBN-13: 9780415935715
The Nineties dawned with a trust that the electronic revolution may considerably remodel our conventional inspiration of towns as areas of trade and undefined. Many expected that electronic know-how might render towns, or a minimum of their economies, out of date. as an alternative, exactly the contrary occurred. The IT-intensive corporations of the 'new financial system' had to be plugged right into a huge community of expertise, anything that tested towns like big apple and San Francisco supplied in abundance. as well as developing new different types of jobs and luring hundreds of thousands of staff again into town, new media districts created a brand new techno-bohemian city tradition. With vignettes of the high-rollers in New York's new media economic climate and tales of untamed events in downtown lofts, Michael Indergaard introduces us to the avid gamers during this new economic system, and explores this intersection of trade and tradition in 1992 big apple. He additionally unearths how the dot-com crash laid naked the hidden connections among the so referred to as new economic climate of latest media and the a while outdated engines of recent York wealth: genuine property speculators and Wall road. Chronicling the go-go years and supreme crash of the recent media district, Silicon Alley is an excellent account of ways hype cast a wedding of know-how and finance, which in flip generated a brand new city tradition.
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Additional info for Silicon Alley: The Rise and Fall of a New Media District
Example text
55 When the head of the Alliance for Downtown New York approached the owner of an empty Wall Street office building in mid-June 1995 about hosting the new media center a deal quickly ensued. William Rudin, the grandson of a Manhattan real estate tycoon, agreed to convert 55 Broad Street into a wired facility for new media start-ups. 5 million square feet of vacant space. 56 Rudin spent $41 million outfitting the building with satellite hook-ups, highspeed video conferencing, fiber optics for local area networks, and high-speed Internet connections.
One wonders if Manhattan’s deepening role as a floodplain for speculative capital will erode away eventually the rich resource base that supports creativity and specialization. The new world that has emerged in the aftermath of September 11, 2001, raises further doubts. In large part, the significance of Silicon Alley depends on what organized social interests will make of it in the future—that is, with what identities, relationships, and sensibilities that survive. There are reasons to believe that this new place of cultural production—and the commercial concept that animated it— will endure in some form.
An occasional speaker strained to resurrect the spirit of revolution, but they might as well have peddled the Daily Worker on a corner in Wall Street. Most everybody was honing their take on a new idea: corporations, not start-ups, would control the commercialization of the Internet. At lunch I sat with a table of MBA students and a young Arthur Anderson consultant. After we finished the small talk and the broiled salmon, they gently tested me (an interloper on their turf). They asked what I thought were promising ways of nurturing careers or businesses.
Silicon Alley: The Rise and Fall of a New Media District by Michael Indergaard
by Joseph
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