Imagining Innovation

Abstract

Since the 1980s, and with greater force since the 2010s, the trope “innovation and entrepreneurship” has inspired visions of a more charismatic form of global capitalism led by young, mobile “talent” in dynamic cities. After the economic crisis of 2008, city government leaders, corporate CEOs, and real estate developers joined forces with university presidents, venture capitalists, and big tech companies to make this vision a reality. They turned to digital technology to reverse the losses brought by financial institutions and revitalize legacy industries, aiming to create an “innovation complex” of buildings and attitudes that would make their city more competitive for investments and jobs. This chapter highlights the history of the innovation complex in New York in the aftermath of the 2008 economic crisis and the growth of computer software, venture capital, and global interest in startups.