Re:Rents in Megacities Can't Go Up Forever
by jethro_tell on Thursday March 23, 2017 @01:40PM
(#13942052)
It should be noted that the vast majority of the IT industry isn't startups. Lots of the drive of rent is not funded by VCs.
Re:Rents in Megacities Can't Go Up Forever
by Mtinie on Thursday March 23, 2017 @04:01PM
(#13943674)
I'd argue that what you're identifying as those businesses in the majority were at one time, startups themselves. Without the previous generation of concentrated wealth those businesses would not be in the position they are.
I do, however, also agree with your counter-point to the previous comment.
Prices are driven on the margins - that is the last transaction
If you've ever played city building games like Rome, Anno, The Settlers, Banished this will be familiar. They encoded the dynamic of number of people, increasing needs and critical mass well imho.
Museums, opera, symphony, most theater, etc. are kept alive by the philanthropy of the local rich.
High salaries are paid by rich VCs looking for return, or companies with more cash than they know how to handle commissioning prestige projects. (How many people at Google actually work on revenue generation? That doesn't happen at Joe's Computers in Nowheresville).
Concentrated wealth is the reason cities can have these things.