INSTANT EXPERT Everything you need to know about the recent bank collapses PAGE 13
CRAINSNEWYORK.COM
BY THE NUMBERS
348K
TECH WORKERS in the city
621
|
MARCH 20, 2023
$2.9B
FIRST-TIME FOUNDERS that raised startup funding in 2022
MONEY RAISED by first-time startup founders in 2022
TECHNOLOGY
NEXT IN LINE First-time founders share strategies for succeeding in a volatile market BY CARA EISENPRESS
STARTUP CO-FOUNDERS Leopold (left) and Meyers think now is the perfect time to start a new company despite market turbulence.
See FOUNDERS on page 18
BUCK ENNIS
H
ere’s one way to become a leader in New York City’s tech world: get hired in consulting, jump to the fastest-growing local company and lead an impactful new team there. Or join the founders of an out-of-town startup in a sector you adore, learn as much as you can about scaling, and when the moment is right, move back to the city to take your own big swing. Maybe seek out the most innovative team at an established bank and become an expert on payments tech. Another option: Climb the ladder at the fourth most valuable tech company in the country until you run its largest fulfillment center in the world. These are real-life stories of tech leaders whose paths to success in New York City’s technology world illustrate the momentum in the sector, even as challenges mount throughout the economy. Crain’s New York spoke to more than a dozen upand-coming leaders, founders and investors, to identify who is at the head of the pack, the lineage
POLITICS
BY OLIVIA BENSIMON, JACQUELINE NEBER, EDDIE SMALL AND CAROLINE SPIVACK
G
ov. Kathy Hochul and the state Legislature will have plenty to debate about as they try to reach a budget agreement in the coming weeks.
NEWSPAPER
VOL. 39, NO. 11
The one-house budget proposals from the Assembly and state Senate both make extensive changes to Hochul’s ambitious plans for key industries in the city. These proposals are the Legislature’s formal response to the governor’s February budget plan: The Senate released one, as did
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HOCHUL
See BUDGET on page 22
ASKED & ANSWERED
CHASING GIANTS
QUEENS ASSEMBLYMAN CHAMPIONS FREE BUSES
Manhattan firm monitors airport elevators PAGE 3
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the Assembly. Negotiations between both chambers and the governor will now commence, and the final budget is due by April 1. For the real estate industry, the one-house proposals eliminate several of the tax
GOVERNORKATHYHOCHUL/FLICKR
Assembly, state Senate budget proposals take sledgehammer to Hochul’s plans
3/17/23 5:37 PM