Why Tech Firms Flock To Expensive Cities
Why Tech Firms Flock To Expensive Cities1 min 39 1 min 39
Have you ever realized
Why tech firms flock to expensive cities?
You will find a cluster of buildings
For example- silicon valley, new york city west side, Bangalore, Gurugram
It seems like everyone in tech wants to build their office in a particular zone
There is a reason that most of the major big tech brand platforms are based in a few places
They wanna be near each other and they wanna be near some of the same resources
I went through many sites and I found
The main reason is an agglomeration
Agglomeration is the tendency of economic activity to gather, or cluster, or clump together.
It happens because there are often benefits to businesses, workers, and institutions being close to each other.
The clustering can build up an economy
The reason they occur is that when you draw people together they learn from each other.
A big agglomeration of saying high tech economic activity is simply going to be more productive and more competitive than others