The Internet gold rush is spreading east. A decade after the tech bubble burst and brought down Silicon Alley, investors are crowding back into New York’s start-up scene, pumping funds to start-ups.
The flood of money is encouraging would-be entrepreneurs to ditch Wall Street or Madison Avenue careers to set up companies in New York-centric industries such as fashion, retail, finance and media. Those businesses, in turn, are having an impact far beyond the city itself.
(READ the story from the Wall Street Journal)