"The term came out of the Flatiron and Soho neighborhoods in the 1990s where companies like DoubleClick, Razorfish and About.com were born. That was a time when the media-minded startup community in downtown Manhattan competed for mindshare, if not money, with the tech scene springing up around Stanford and Sand Hill Road in northern California. Like the battle between East Coast and West Coast rap, though, it's a relic of another era."
"Indeed, the city's tech ecosystem now spans fintech, biotech, e-commerce, climate tech, and more, spawning brands like Etsy, Bilt, MongoDB, Ramp, Warby Parker, Datadog, Kickstarter, Tumblr, Foursquare and OpenSea. Some local tech darlings have had high-profile stumbles-hello WeWork!-while others like Bloomberg were thriving long before a bunch of young entrepreneurs set up shop downtown as the internet was taking off. Add in the fact that tech hubs have since sprung up in many other cities and countries around the world."
A New York fire marshal shut down a party celebrating 30+ years of Silicon Alley, and a 20-year-old asked, "What's Silicon Alley?" The term originated in Flatiron and Soho in the 1990s, producing companies like DoubleClick, Razorfish and About.com. Downtown Manhattan startups once vied for mindshare with Silicon Valley. By 2024 Silicon Valley captured about 46.3% of U.S. venture funding while New York received 13.3%. New York's tech scene now spans fintech, biotech, e-commerce, climate tech and more, spawning notable brands. Some companies stumbled, others predated the internet boom, and tech hubs have proliferated worldwide.
Read at Fortune
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