New York City – whose moniker is “The City that Never Sleeps” has pushed to ensure your company never sleeps and in today’s connected and digital economy, this may be the difference between success and failure.
If you had a chance to choose a western region to locate your company and you had the choice of just New York City or France, which would you choose based on recent events? Moreover, if you had to make your decision largely based on recent government actions – let’s the last few weeks or so, which would you choose?
In other words, we are going to put aside tarriffs, currency, minimum wage, taxation, regulations, the availability of a solid slice of pizza, baguette or the availability of fine wine.
As we reported on Christmas Day of last year, France has a new law which allows people working for companies with 50 or more people to negotiate to not work after normal business hours. No emails, calls, etc. We argued the law would lead to lower productivity and employment, more civil unrest and a breakaway from the EU by France.
Within two weeks of France making anti-business news, New York Governor, Andrew Cuomo announced New York subways will have cell service from all four major carriers – a year ahead of plan.
This adds to the progress the subway made, adding WiFi to 40 stations in 2014.
Once again, if you’re a business would you choose to locate your company where workers can act and react in real-time or would you locate your organization where workers might have to wait 48 hours or more to react to critical events?
Increasingly, speed is the difference between success and failure in business and years of experience and reputation in business means less and less in a world of disruption from random upstarts. It took a matter of a few years for people to trust Uber drivers who may as well be strangers and trust houses owned by strangers thanks to Airbnb.
Point being, the next startup is looking to disrupt every company and if you are slow, you are doomed. New York City – whose moniker is “The City that Never Sleeps” has pushed to ensure your company never sleeps and in today’s connected and digital economy, this may be the difference between success and failure. Sorry France.
Update: Sunday, January 8th, 2017: Here is the counterpoint to NYC being a good place to do business... China Fun will close due to over-regulation.