In 2010, when I was graduating law school, I knew that I wanted to work within the intersection of technology, business, and the law. I also didn’t want to pay an arm-and-a-leg for rent. So, feeling that West Coast vibe, I decided that Seattle was probably going to be the “next big thing.” And six years later – HA! I WAS RIGHT!
That’s all that matters, right? (I kid.) That, and Colin and I are sort of good luck charms for NFL Teams (I’m looking at you, Texans). Think about it. We move from New Orleans to Seattle to a brief stint in Denver.
I wouldn’t have predicted Houston being a hub for tech innovation six years ago, but now that I have spent significantly more time in the city as a business owner, I can see how much time and effort is being spent to encourage and stimulate innovation/start-ups. Even though the oil & gas market is doing poorly, the healthcare industry is still doing well and Houston should be sufficiently diversified to weather the storm. Houston is poised to develop a robust biotech industry (maybe it already has one and I’m just not as aware of it being an oil brat). Furthermore, it’s possible that this crash in oil prices will encourage companies to: 1) build/manufacture more due to the end-user having to pay less for energy leading to more use of the reserves and a slight rebound (a girl can dream); 2) invest in other types of energy; and 3) invest in new technologies and take some risks since their profits are no longer guaranteed.
We shall see.
As far as Seattle, everyone knows that Seattle is cool (but my rent/mortgage wishes that they didn’t). It will probably continue to grow as a city focused on App and Software development rather than any sort of commodity or manufacturing. Space is limited in the Seattle area, so unless there’s an innovation in manufacturing where people can figure out how to use less space, or optimize underutilized space, it seems that growth in industries that lend themselves to a group of people coding will be easier in Seattle. Though there is a huge push for eco-friendly business ideas as well (including agricultural innovations that create more sustainable and local food production).