Quote:
Originally Posted by JohnIII
This is good news that the investment company may come to Philadelphia and that other businesses are considering the city; it means we have sizzle and we should; its a great city; tons of young people are moving here; its vibrant and not expensive.
I've read articles from people who have an elitist attitude; they generally only see New York and Los Angeles as being the only cities in America an its a long held misconception among some; I first encountered it on the West Coast in the early 1990's. This elite attitude is in many ways a detriment to those cities because it justifies them top dollar on everything and it gives businesses all the more reason to move to Philadelphia. There is a reason why New York and Los Angeles are losing businesses in droves so the elitist attitude doesn't serve their best interest but if we can benefit from it then why not?
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In the WSJ article, since algorithmic finance can be done anywhere, Philly became the option. And, I think the main deciding factor for the parent(s) and business owner is that the kids were going to college in Philly. I presume, UPenn. So, that's the context within the decision and maybe a little push from our recent advertisement to Amazon to show Philly off. In the end, the guy and his family is doing this to keep the family together.
BTW, London is also considered an elitist city, it has some of the world's wealthiest properties and billionaires. Finance is part of its DNA, although some of that is changing somewhat.