Top Emerging Tech Hubs in the US

"Artificial intelligence is transforming the technology sector in New York City -- into a booming one worth billions and rivaling San Francisco in innovation, investment and talent... New York City-based generative AI companies raised $2.7 billion since the start of 2021, according to PitchBook Data. So far this year, investors have put $200 million through 27 deals into generative AI startups in New York City, compared with $400 million through 35 deals in the category in San Francisco, the data provider said... Many AI startups in New York aren't developing massive models like San Francisco's OpenAI is. Instead, they're selling ready-to-use AI tools for sectors like banking and healthcare, said New York-based Insight Partners Managing Director Lonne Jaffe... New York gained more relocated tech workers than any other U.S. city in 2023, according to an analysis of LinkedIn data by venture firm SignalFire... The AI research labs of public tech companies, including Meta Platforms, Google DeepMind, a subsidiary of Google parent Alphabet, and Palantir Technologies, have been key sources and anchors of talent, along with local academic institutions such as Cornell Tech, Columbia University and New York University, where Meta chief AI scientist Yann LeCun is a professor.... New York is also a top destination for AI talent from Europe, Israel and Asia, who prefer to live in the city over San Francisco and other emerging tech hubs, some founders say... new AI labs and venture- capital offices in the Big Apple are drawing people in. Over 150 AI firms are based or have satellite offices in New York, according to Lux Capital..." https://lnkd.in/ec5r_hjK

Which cities are winning the war for tech talent? The Burning Glass Institute worked with The Wall Street Journal to analyze the tech talent base of each US city in order to find the ones with the greatest concentrations of cutting edge skills. A city can have a big tech workforce but if people are mostly working in legacy technology, it will quickly lose its edge. You can find the Journal’s feature story here: https://lnkd.in/esgFP-NX Our study focused on mapping the evolving landscape of tech talent distribution across metros. Here are some key insights from the report: * Not all skills are created equal: Across the full range of skills within the tech workforce, there are some at the frontier of advances in technology – those that are growing fastest and commanding the highest market premiums. Cities with large concentrations of these skills stand to define the future tech talent landscape. * Reports of San Francisco’s demise are greatly exaggerated: Even as headlines herald the city’s decline, the city still retains an enviable tech talent base that’s second only to Seattle’s. * The Silicon Slopes are building a tech powerhouse: Provo, Salt Lake City, and Ogden-Clearfield take the #1, #3, and #10 spots respectively for frontier tech skills among mid-sized MSAs. * Tech is going Main Street: Northwest Arkansas takes the #2 spot among mid-sized MSAs, bolstered by Walmart’s major tech investments, reflecting how a growing share of tech hiring is now outside of the tech sector. * Pittsburgh and Kansas City are on the rise: Home of Carnegie Mellon University, Pittsburgh takes the #5 spot in our momentum rankings for major cities, as the city fast emerges as a critical player in tech talent. Kansas City comes in at #6, bolstered by a major Google Fiber rollout. * Some growing cities have yet to build future-ready tech workforces: Miami, Dallas, and Houston lag behind many other large MSA’s, despite significant economic momentum. * Bigger isn’t always better: Just a few years ago, the sheer size of Washington, DC’s tech workforce won it Amazon’s HQ2. But with a workforce largely anchored in government contracting and defense, a high share of workers are focused on legacy platforms. We’ve published a detailed readout of this research on our website - find it here to learn more: https://lnkd.in/e5V5Krrm Special thanks to my co-authors Stuart Andreason, Luke Chen, and Gad Levanon for their hard work on this research, and to Kevin McAllister and Harry Carr at the Wall Street Journal for their excellent efforts in reporting on this work, and for their partnership. #economy #economics #careers #innovation #economicdevelopment #talent #futureofwork

I relocated from the Bay Area to #Atlanta in 2012, where I soon founded Partpic. Choosing to locate a promising computer vision (AI!) startup in Atlanta over Silicon Valley was considered a risky bet. Now in 2024, it finally feels like the bet on Atlanta is paying off. For the first time, all the key players are in sync and moving forward in the same direction. This is a sea change from the disjointed landscape I encountered when I was starting up. I'm encouraged by the progress. A few notable updates: 1. The City of Atlanta has adopted a forward-thinking approach to innovation, led by visionary leaders. Mayor Andre Dickens, aptly nicknamed the "Tech Mayor," made a great choice appointing Donnie Beamer Jr., CFA, to spearhead the newly created Office of Technology and Innovation. In one year, Donnie and team have made notable strides, including partnering on a comprehensive analysis led by Parmeet Grover of BCG, outlining Atlanta's status and trajectory toward becoming a Top 5 Tech Hub. The study offers valuable insights here: https://lnkd.in/eA82mZXX 2. The magic of Atlanta Tech Village is now extending to South Downtown, thanks to David Cummings. I recently toured the area with David, Jon Birdsong, Aly Merritt, and April Stammel and was amazed by the project's scale and potential. It represents a significant opportunity to foster innovation in Atlanta for years to come. My sincerest hope for the development is that inclusion is part of its DNA from the start. Maynard Jackson gifted Atlanta the blueprint on how to do developments of this magnitude with economic equity at the center, and I am hopeful the Atlanta Ventures team will follow his example. King Williams wrote an excellent overview of the project's history and potential here: https://lnkd.in/e2jrMEFG 3. An increasing number of startup founders are scaling their businesses successfully. Although the number of unicorns remains modest (7), local entrepreneurs are redefining success—focusing less on fundraising and more on revenue, profitability, and ownership. Embracing and multiplying these types of businesses is crucial, as it insulates our ecosystem from the volatility of VC and ensures that when these companies exit, a larger portion of the value remains local, benefiting the community. We are focused on influencing entrepreneurs in our portfolio to adopt this mindset as are many ESOs like Endeavor Atlanta, Russell Innovation Center for Entrepreneurs, and Goodie Nation. These developments are a testament to Atlanta's evolution as a thriving hub for tech innovation and entrepreneurship, making it an exciting time to be part of this vibrant community. While there is still much work to be done (more on this later), I'm heartened at the earnest #collaboration happening toward a shared vision of accelerating inclusive entrepreneurship in Atlanta.

The "tech talent tectonic shift" - Silicon Valley, Manhattan, and others no longer monopolize the market for tech talent. Let's dive in. 🔍 Great reporting from The Wall Street Journal points out a phenomenon we already intuitively know - the exodus of workers out of cities like San Francisco and New York City. Due to many factors, including how some cities handled the pandemic, emerging technology ecosystems across the U.S. and the growing employment of tech workers in non-tech industries have created more geographic competition. 🏙️ The Shrinking Share Lightcast, a labor-market analytics firm, in collaboration with The Brookings Institution, highlights that cities traditionally synonymous with technology are not just losing their proportionate share of U.S. tech labor; they're experiencing an absolute decline in their tech workforce. For instance, Silicon Valley saw a reduction of nearly 1,400 tech workers up to 2023, a trend likely exacerbated by layoffs at tech giants. Contrastingly, areas like Denver, Salt Lake City, Miami, Nashville, and particularly Texas cities - Dallas, Austin, and Houston - are becoming new tech hotspots. These cities have witnessed significant tech workforce growth, with the Dallas-Fort Worth metro area alone adding 30,000 tech jobs in two years. 🌱 Growth Drivers: Local Ecosystems and Diverse Employment - Local Tech Ecosystems: New tech clusters are forming, fueled by both local and external investments. These ecosystems are self-sustaining, with new tech firms attracting more talent and fostering additional tech startups. - Broad-based Tech Employment: About 60% of tech workers in the U.S. and Canada are now employed in traditionally non-tech industries like healthcare and education. This diversification in employment opportunities is decentralizing the tech workforce. 📊 Case Study: Cart.com's Location Dynamics Cart.com's journey exemplifies this trend. Initially founded in Houston, then moved to Austin, and eventually returning to Houston, the company's location strategy reflects the need for diverse talent pools that cities like Houston offer, beyond just software development expertise. 📈 Future Outlook: Decentralizing Innovation While certain areas will continue to lead in specific tech domains (e.g., AI in the Bay Area, biotech in Boston), the overall nature of tech jobs is evolving. More cities are now equipped to support "new collar" tech jobs focused on implementing innovative technologies rather than solely creating them. This evolution suggests a continued dispersion of tech jobs across various U.S. cities, reshaping the traditional concept of tech hubs - good to have more geographic competition! Read more - link in comments. #TechTalent #SiliconValley #InnovationMigration #TechHubs #FutureOfWork