Tech News

New York Lacks ‘Growth Engines’ for Tech, JPMorgan’s Schwartz Says

The actual estate enterprise has hailed New York City as the next Silicon Valley, but everyone is no longer satisfied. “I don’t recognize what agencies are thriving right here — like the increase engines they’ve in San Francisco,” stated Doug Schwartz, leader investment officer of America’s real property at JPMorgan Asset Management, at Tuesday’s industry convention. For example, Schwartz pointed to a recent assembly JPMorgan held about 5G wi-fi generation, the new mobile networks that promise a revolution in connectivity. His colleagues listed the maximum hit companies in a presentation, and now not one in all they changed into based in New York, he said.

“It’s difficult to look ahead and cross, all right, in 30 years, how is New York going to take advantage of all that exchange?” Schwartz said. “I just don’t see it.” Amazon.Com Inc. Dealt a large blow to New York’s tech-giant fame when it sponsored out in February following public backlash over predicted tax incentives and strains on housing and transportation. Other agencies, which include Apple Inc. Aoogle, both based on the West Coast, has introduced plans to increase within the kingdom in current months.

New York

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Johnny J. Hernandez
I write about new gadgets and technology. I love trying out new tech products. And if it's good enough, I'll review it here. I'm a techie. I've been writing since 2004. I started back in 2012.