Tuesday, May 6, 2025

May 06, 2025 • Estimated Reading Time: 10 minutes

Tuesday, May 6, 2025 

In today’s digest, NYC brunch spots, fewer car crashes, and what’s driving NYC’s economy (spoiler alert: it’s tech). 💻

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  • There have been fewer car crashes in Manhattan since congestion pricing went into effect, according to a Gothamist analysis of NYPD data. A total of 1,526 crashes were reported within the zone, a 13% reduction since the same time last year. 🚘 (Gothamist)

    • Plus, crashes on bridges, tunnels, and highways that flow into Manhattan’s congestion zone have plummeted more than 26%, and crashes in all five boroughs have dropped 6.5%. 📉

  • Who is your neighborhood funding in New York City’s mayoral race? There’s a map for that. The Times has detailed info on which mayoral candidates are leading in fundraising — and where those dollars are coming from. (New York Times)

  • Just in time for Mother’s Day brunch on Sunday, 13 New York restaurants have landed a spot on OpenTable’s top 100 brunch restaurants in the U.S. (PIX 11)

    • Check out the full list here.

➕ Tech:NYC’s Urbanism Fellow, Isaac Oates, lays out his recs for accelerating the adoption of electric vehicles in the city. 

In other reading:

Tech is the engine driving the city’s economy forward, adding jobs at nearly 10 times the rate of the city’s overall economy. Yep, you read that correctly.

A new report from Tech:NYC and the Center for an Urban Future (CUF) notes that tech has become New York’s largest and most dependable source of new middle- and high-wage jobs.

Today, we’ll highlight some of the key stats from the report, and tomorrow, we’ll take a deeper dive into specific sectors and the recommendations for how to build on this momentum. ⬇️

NYC’s tech sector is powering job growth:

  • Since 2014, NYC tech jobs grew 64%, far outpacing the rest of the economy.

  • Tech accounted for 41% of the city’s net job growth since 2019.

  • Nearly half of all NYC job postings in 2024 required tech skills.

“It is amazing how big [tech] has become and how far it has come,” Jonathan Bowles, executive director of CUF and the author of the report, told THE CITY.

But wait, there’s more:

  • Tech accounts for a whopping 14% of all employment growth citywide over the past decade. 📈

  • Between 2014 and 2024, the tech sector added an average of 8,000 jobs a year across the five boroughs. 💼

More startups, more sectors, more diversity:

  • NYC is now home to 8,750 funded startups, more than San Francisco and more than Boston, Austin, and Miami combined.

  • AI job postings surged past 25,000 in 2024 — #1 in the U.S.

  • Black and Hispanic New Yorkers make up 24.3% of New York’s tech sector workforce, compared to 10.4% in Boston/Cambridge, 8.2% in the San Francisco Bay Area, and 5% in Seattle.

🤑 Investors are investing:

  • NYC has seen a steady stream of VC firms from elsewhere opening offices in the city in recent years.

  • Think: Andreessen Horowitz, Sequoia Capital, Lightspeed Venture Partners, Index Ventures, and many more.

So, how do we keep the momentum going? Tune in tomorrow for our breakdown of the key challenges and recommendations featured in the report.

“It will probably take 10 years, but New York will be the largest tech center in the U.S.,” said Kevin Ryan, Founder and CEO of AlleyCorp, and a member of the Tech:NYC board. 

In other reading:

  • The future of manufacturing might be in space (Wired)

  • How to get celebrity investors to back your business (Harvard Business Review)

  • This 'RoboCake' runs on chocolate-encased edible batteries (Reuters)

One more thing: On May 9, join us at Founders NYC, by Union Square Ventures, Lux Capital, First Round Capital, and BoxGroup, bringing together builders 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.

  • Wonder, an NYC-based cloud kitchen group (and Tech:NYC member!), raised $600 million at a valuation north of $7 billion. NEA led, joined by Accel, GV, Forerunner Ventures and Amex 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 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: OpenAI and the AI for Nonprofits Sprint present Advanced Features for Nonprofits: ChatGPT's Next-Level Tools, a webinar to learn how to go beyond simple chats and explore ChatGPT’s next-level capabilities for more efficient and impactful work. Co-sponsored by the Tech:NYC Foundation. 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. 

  • May 28: Go for Growth: Mastering Strategy, Technology, People, and Culture for Long-Term Success, a virtual event for pre-IPO and growth-focused companies to get insights, connections, and a roadmap to scale. Register here.

  • May 30: NYC Coffee Club for early-stage B2B SaaS founders & funders, a no-stress way to connect with NYC VCs and founders. Register here.

  • June 2: AI Startup Pitch Day, where NYC’s top pre-seed AI startups will take the stage to pitch their startups to a roomful of 100 investors with a grand prize of $50K. Investors, register here. Startups can apply to compete here.

Any feedback or suggestions of things to add? Get in touch here.
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