[freehunter]

I've been trying to get Detroit recognized as a start-up success story [1] for a few months here on HN. For those living in Detroit, the turn-around might be hard to see. I live in West Michigan, and in the past decade I've noticed a huge change in the Detroit area. I only visit Detroit a couple times per year, but every time I come by there's something new that surprises me. In the last few years, I've even taken to parking and walking some streets that I wouldn't have previously.

I could even see myself taking employment in Detroit; maybe not today, maybe not tomorrow, but the city is getting there. Mitt Romney might have famously called to let Detroit go bankrupt, but all it really needed was some investors who cared enough to force a paradigm shift. Look at Detroit startups such as Neowin, Fathead, Stardock, etc.

[1] https://news.ycombinator.com/item?id=3923825

[jerf]

"Mitt Romney might have famously called to let Detroit go bankrupt, but all it really needed was some investors who cared enough to force a paradigm shift."

Those two things are unrelated. Bankruptcy doesn't mean the city physically disappears or anything. The reason one declares bankruptcy is to clear debts (in a fairly drastic way), which opens capital up to do things other than service debt. It may yet be a necessary or desirable step.

[freehunter]

You're right, Detroit hasn't avoided bankruptcy yet. Like you said, though, bankruptcy is drastic and has consequences. It could be possible to rebuild without suffering that blow and without a bailout.