This article was clearly written by someone with very little understanding NYC's tech scene. While I would agree that there is a social/mobile bubble here, many impressible businesses serving other sectors are being started by incredibly bright entrepreneurs. Each of whom know what Quora is.

In terms of finding top talent, as long as a company is building products with tangible value and the CEO can outline the immediate ROI for customers, those that flock to Wall Street are there to be had. The East Coast also has our own top universities, the originals - Harvard, MIT, Cornell, Princeton, Yale, Penn, Carnegie Mellon - who are each producing phenomenal mathematics and CS professionals with East Coast ties. The ability to staff talent is directly correlated to the quality of the company's product and founders.