- Tech:NYC Digest
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- Monday, April 28, 2025
Monday, April 28, 2025
Monday, April 28, 2025
In today’s digest, helicopters, Met Gala intel, and Stanford’s new AI index report. 🤖
But first: Join Bloomberg, Cornell Tech, and Tech:NYC for the latest installment of the Cornell Tech @ Bloomberg speaker series, featuring economist & writer Chris Hughes in conversation with Bloomberg News’ Isabelle Lee on Wednesday, May 7.
Chris will discuss economic policy, financial markets, and the future of the American economy. Register here.
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A congestion pricing update: The toll program brought in $159 million in Q1. The Trump administration continues to push to end the initiative. (Bloomberg)
The MTA expects to raise $500 million this year from congestion pricing, but the Trump administration claims the fee is illegal and has given the MTA a May 21 deadline to end the program.
MTA officials insist the agency won’t stop the toll unless under a court order.
Calling all arts aficionados: The Juilliard School announced a $550 million fundraising campaign to eliminate tuition for all its students, aiming to make its programs more accessible and reduce financial burdens for graduates pursuing arts careers. $180 million have already been pledged. 🎵 (New York Times)
Currently, tuition stands at $55,500 per year, though 95% of students receive aid, and some programs are already tuition-free.
New York City lawmakers approved legislation to ban non-essential helicopter flights from city-owned heliports unless the aircraft meet strict federal noise standards, following a fatal crash earlier this month. (Gothamist)
The restrictions, taking effect in December 2029, aim to reduce noise and health risks, but exclude flights for law enforcement, medical, military, news, and film purposes. 🚁
In other reading:
Everything you need to know about the 2025 Met Gala (Vogue)
Where was that in Lorde’s ‘What Was That’? (Curbed)
A beautiful new glass mosaic was just installed inside the Grand Central subway station (TimeOut New York)
As AI reshapes our lives, the corporate world, and public discourse, Stanford’s AI Index is tracking its progress, offering a data-driven perspective on the AI landscape.
The latest report on 2024’s progress just dropped, and if there’s one takeaway: AI development isn't just accelerating, it's hitting warp speed.
🌎 The global landscape:
Investment boom: Global AI private investment hit $252.3 billion in 2024 — a 26% jump from the previous year. U.S. companies led the way, accounting for $109.1 billion.
AI performance continues to improve: On one benchmark, scores rose 67.3% from a year earlier.
However, complex reasoning remains a challenge — AI often fails to solve logic tasks, limiting its effectiveness in high-stakes settings where precision is critical.
AI adoption explodes: 78% of organizations globally now use AI — up from just 55% the year before. Generative AI usage alone more than doubled across business functions. 📈
🔍 Zoom in: The U.S. is leading the way in AI development.
In 2024, U.S.-based institutions produced 40 notable AI models, compared to China’s 15 and Europe’s three.
Since 2022, AI optimism has grown in the U.S. (+4%) even if it’s still relatively low (39%).
In 2024, Python, computer science, and data analysis were the most specialized skills in jobs postings across the United States. 🖥️
🍎 Back home in the Big Apple:
New York is in the top three states for AI job postings in the U.S., accounting for 2.19%. 🎖️
New York City’s Empire AI initiative is leading the nation with responsible AI innovation, partnering with leading research institutions to make AI research safe, equitable, and accessible.
NYC has more than 2,000 AI startups, including 35 AI unicorns that have raised a total of $17 billion.
NYC is home to over 40,000 AI professionals.
Space leased by AI companies has expanded more than 10 times over the past 10 years, from less than 460,000 sq ft in 2014 to over 4.8 million sq ft in 2024.
AI transformation is happening in front of our eyes — and New York has a starring role.
In other reading:
The philosopher’s machine: My conversation with Peter Singer’s AI chatbot (The Guardian)
Startups are vying to fix one of fashion’s fossil-fueled secrets (Bloomberg)
Inside the Insight Partners mafia that has taken over New York venture capital (Fortune)
Fora, an NYC-based travel platform, raised $60 million in funding. Thrive and Insight Partners led the $40 million Series C round and were joined by existing investors Forerunner and Heartcore Capital. Insight Partners led the $20 million Series B and was joined by Forerunner and Heartcore Capital.
Hopper, an NYC- and Tel Aviv-based open-source software risk management solution, raised $7.6 million in seed funding. Meron Capital and New Era led the round and were joined by the Sequoia Scout Fund, M-Fund, and others.
LayerX, an NYC-based browser security solution, raised $11 million in Series A extension funding. Jump Capital led the round and was joined by existing investors Glilot Capital Partners and Dell Technologies Capital.
Theo, an NYC-based trading infrastructure startup, raised $20 million led by Hack VC and Anthos Capital, with participation from Manifold Trading, Mirana Ventures, Metalayer Ventures.
May 9: Founders NYC, by Union Square Ventures, Lux Capital, First Round Capital, and BoxGroup, bringing together NYC’s best builders from the most iconic companies — founders from MongoDB, Warby Parker, Ramp, Ro, and others — to talk about lessons learned, off-the-record-tips, and well-trodden tales with the goal of helping NYC’s big next wave. Apply to attend here.
May 1: Tech:NYC, Pensar, and Two Trees’ AI Demo Day at the Refinery @ Domino, featuring AI agent demos from a mix of later stage companies and early-stage startups. Register here.
May 7: The latest installment of our Cornell Tech @ Bloomberg speaker series, featuring economist & writer Chris Hughes, who will share insights on how understanding past marketcrafters can inform the development of future markets to be innovative, stable, and inclusive. Register here.
April 29: New AI Frontiers & A Hacker Night: An Evening with Databricks, Anthropic, Timescale, Patronus, & Weaviate, an AI Review event. Register here.
April 30: Woo Investors with Robust Numbers, a 90-minute masterclass on financial pitch training. Register with promo code TECHNYC25 here.
April 30: Empower & Elevate Your Workforce Talent Mixer, for employers seeking to connect with the brightest emerging talent in social media marketing, Python, IT, data, and cybersecurity. Register here.
May 6: 43North Startup Showcase: Upstate NY, to hear pitches from founders in the 43North portfolio and across Upstate New York, and to connect, collaborate, and network with venture leaders and ecosystem builders. Register here.
May 6-7: AI Agent Conference, for leaders driving the next era of autonomous artificial intelligence, featuring 300+ world-class AI leaders, senior execs and top founders. Register with promo code TECHNYC15AI here.
May 13: Watches and Wearables, a happy hour by Remedy and Ganance for anyone excited to chat watches and wearable tech, featuring drinks, hands-on product demos, and a fireside chat. Register here.
May 14: Unlock LATAM by nocnoc, for VIP execs from leading U.S. companies looking to tap into Latin America’s $100 billion+ e-commerce opportunity. Register here.
May 15-16: Black Women Talk Tech hosts its 9th Annual Roadmap to Billions Conference, a platform to forge connections, expand your knowledge, and drive generational wealth for you and your community. Register here and save 20% with code RTBPARTNER20.
May 20: Grow and Secure Your Business with Google, an in-person session on essential digital tools to grow your business, improve operational efficiency, and protect your business against cybersecurity threats. Register here.
May 23: NYPL’s free job fair & expo, focusing on tech sector jobs. Employers can apply to table at the event here. Job seekers, register to attend here.
Any feedback or suggestions of things to add? Get in touch here.
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