A link to the article may be found here.
Unit 3
Within the space of about four years, the amount of tech-based businesses and start-ups in East London have quadrupled to about 1,400. Over the last four years, London officials have been pushing for the run-down eastern part of London to become a bustling hub in the workplace. Some of their businesses like King.com, the maker of the popular mobile app game Candy Crush, have been fairly successful and continue to be. These start-ups have helped to create more jobs in the London area, and they have helped to put London on the top of Tech Communities around Europe.
The interesting thing about East London compared to the continually thriving Silicone Valley is that London is the basis of a large financial oriented community in the workplace. For years and years, London has been Great Britain's New York when it comes to finance. With this background, New York is starting to feel that their competition in the business world is starting to come more from East London than Silicone Valley. The new sense of potential in the 'Tech City' of East London is starting to cause tech start-ups to wonder, "Doing business in London might not be a bad idea."
In think that the question at hand is, "What does this mean to American business? Could this potentially cause bright-minded entrepreneurs to go oversees to do tech-business?
Business is competitive, but Americans have been known to thrive on it. I think there needs to be a push from business leaders all way down to young entrepreneurs like myself to keep the money making businesses here. Sure having a global economy improving is what one would like to see, but America can't be downgrading during the process. As a people, let's continue to be innovative and one step ahead of the curve when it comes to the world of business.
I've read lots of articles before on the rise of London becoming a rival to Silicon Valley, and New York City, and in many ways it is competing, but while London is more of a financial hub than a tech hub to me, it would compete more with New Yorks Manhattan Financial district than Silicon valley in California. But they are mixing ever so closely and I think that America will be just fine in maintaining its status quo.
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