[bogomipz]

>"However, this will be an objectively good thing for NYC as a center of commerce, and help establish it as a tech hub at a time its local job market isn't doing all too well."

NYC is already a tech hub and has been for the last decade at least - Google, FB, Spotify, MongoDB, Pinterest, Bloomberg, Etsy, Salesforce, Seamless, Twitter, MLBAM, Square etc are all in NYC.

NYC's economy isn't doing too well? It grew by 2.7% for the second consecutive quarter in 2018[1]. It's expanding, how is that "not doing too well" exactly?

https://comptroller.nyc.gov/reports/new-york-city-quarterly-...

[manquer]

I am sure Amazon is also already "in" NYC. Having a presence in a important is not the same as moving/adding 50k+ employees/HQ there.

Out of the companies you mentioned I think only Etsy , MongoDB, Seamless are NYC based, all the larger employers such as Google,FB,SalesForce ,Twitter are valley based.

[bogomipz]

No the companies I mentioned don't just have a presence "in" NYC. Google owns an entire city block with some 5K employees. It's the biggest office outside of Mountain View. Spotify's headquarter are also NYC and that some 3K employees. Sales Force also owns a building in midtown. FB has 10 floors. These are not "satellite" offices.

And the point is that 50K people is not some magic tipping point that is going to fix NYC infrastructure issues.

JP Morgan chase has 15K employees in it new building on 270 Park Ave and guess what, NYC infrastructure woes didn't disappear.

[manquer]

I am willing to bet that Amazon also already has significant presence in NYC, while I don't know exact numbers, a reasonable proxy is their job site, it lists around 600 active openings in the NYC, which means they employ 5-10k employees already.

NYC is way too big for any material impact either way by Amazon on infra, however the tech scene could use the boost, while as you point out there is already significant presence from some major folks, this could be potentially be the start of something much larger

[dunpeal]

> NYC's economy isn't doing too well? It grew by 2.7% for the second consecutive quarter in 2018.

The economy has been growing at 3.5-4% during this time nationally, so a 2.7% is actually training the national growth by a significant margin.

I don't have have the article handy, but hiring in NYC has been down this year by 3% or so. My unscientific observation is that finance employment in NYC has been in a slow but steady decline since 2008, and unlikely to recover.

[bogomipz]

NYC was already doing better than most of the country economically. NYC recovered from the Great Recession rather quickly compared to much of the rest of the country.

[dunpeal]

Perhaps in past years. This year, with the lower growth and decline in job numbers, it's been doing worse.