KR in CR

Kevin Ryan in this weeks Crain’s NY.  I can’t post the entire article, but it’s here if you have a login.  Some quotes:

Mayor Michael Bloomberg is worried that excessive regulation of publicly held companies under the Sarbanes-Oxley law will hurt New York’s financial services industry. Kevin Ryan has no worries about New York’s attractions for Web 2.0 firms, and he’s at work rebuilding the city’s tech industry. If he succeeds, New York will achieve an important goal: diversifying the economy.
Few have been working in tech here longer than Mr. Ryan, a founder of online advertising firm DoubleClick. He and co-founder Kevin O’Connor moved the company here from Atlanta in 1996 because New York is home to the ad agencies they sought as clients.
The firm thrived, as did the city, on the back of the new media boom. Like DoubleClick, other tech businesses were founded or relocated here because their customers were here, whether they were ad agencies or media enterprises or publishers. DoubleClick became the biggest of those companies; for one brief moment, Mr. O’Connor was the city’s first Internet billionaire. The sector grew so rapidly that it employed 50,000 people at its peak in 2000, some estimate.
When the bubble burst, tech shriveled. With a few exceptions, the famous names of the boom dissolved, and tech seemed to disappear. But a few hardy souls like Mr. Ryan persevered, and now they are founding startups that are loosely labeled Web 2.0 — firms that create close and powerful connections between users, or firms that serve such ventures.
Mr. Ryan says the main attraction of New York remains the same. His businesses need to be here because the city is home to their customers or partners. Music Nation, an American Idol-style Web site, must work closely with music companies. Panther Express takes content and makes it accessible on servers around the globe; publishers are prime targets.

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“They go to a barbecue every weekend where their neighbors are trying to recruit,” Mr. Ryan said at a recent Crain’s economic forecast breakfast. “They think nothing of changing companies after a year or two. In New York, people will stay with you.”
Oh, there is one problem. Wall Street is paying mediocre employees so much money that tech companies can’t find programmers.