I love NYC. When I first moved to NYC, it was a dream come true. Every corner was like a theater production happening right in front of me. So much personality, so many stories. Every subculture I loved was in NYC. I could play chess all day and night. I could go to comedy clubs. […]
Source: NYC Is Dead Forever… Here’s Why – James Altucher
Is NYC truly over? For the longest time it was the place to be in this entire planet but now it certainly feels like it’s spiraling downwards, and we say this from my relatively comfortable perch in the Midwest, which does have problems of its own.
City government is still throwing billions into its police department even though nobody living in the city wants that anymore. Nobody likes De Blasio, who keeps thinking salvation will come from somewhere even though Trump has repeatedly said he’s more than willing to let NYC die. NY state government have their own issues, which depend a lot on the economic might of the city. Landlords are about to start throwing themselves off roofs—let them, no one stop them!
It reminds us of Tijuana when I arrived there so long ago. I was told Avenida Revolucion would be teeming with people, people who would be drinking, laughing, partying; usually loud boisterus Americans, yes, but they’d bring along people from all over the world. It all came crashing down on 9/11 and the economy of the city took a big hit when the border closed entirely. After that, there would only be light crowds and those usually on the weekends.
We worked on La Revo for years. We remember. It took nearly a decade for the city to recover, and then that stopped with the cartel drug wars.
Reading this article about NYC reminds me of all of that. It also takes into account the availability of broadband for most everyone, which changes things when you can do your job from anywhere on the planet that has the bandwidth to let you.
Other cities are suffering from the same issues. London is seeing this compounded by Brexit. Hong Kong, compounded by the hostile takeover by PRC. San Francisco, compounded by sky-high rents. With broadband you don’t have to deal with any of these issues; You can now have your dream house in the country and have good wifi.
NYC will recover first but it will take decades.