Thursday, March 7, 2013

Why NYC Doesn't Have A Facebook

NY-based venture maverick Jim Robinson
For a well-rounded perspective on the New York City startup and venture investing scene, there’s few who could top James D. Robinson IV.
The co-founder of one of the Big Apple‘s leading venture capital firms, RRE Ventures, Jim  has been investing for nearly 30 years and has backed dozens of startups in information technology, e-commerce, mobile and digital media. Now investing its fifth fund at $230 million, in 2012 RRE Ventures made seven venture deals and eight angel investments — and has even backed an innovative Chinese luxury travel network, Affinity China.
Having worked in both Silicon Valley and New York City, Robinson knows full well the customs of investing coast to coast will never meet. I asked Jim what are some key differences, and what follows is an excerpt of our interview in prep for Silicon Dragon Alley.
Q. Would you consider New York as the digital media startup capital? A. There are basically seven business sectors in New York such as finance, fashion, advertising, media – and two of those are being tremendously transformed by technology and the move to a digital future. This has created a lift for New York as a startup hub over the past few years after the end of the dotcom era.
Q. Why doesn’t the east coast have a Facebook, Google or Twitter? A. I would argue that it does — Bloomberg.
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