The Breakdown | Explaining Southern California's economy

Watch out, Southern California! New York wants to do biotech, too

The guy in the video above is Fred Wilson, a venture capitalist and a partner at Union Square Ventures in New York. (He also a very active and disciplined blogger.) I've blogged about Fred and his thoughts a few times here at DeBordReport.

Watch the whole thing to get a sense of his views on engineering, startups, VC — and where New York might be headed in terms of developing a more diverse startup community.

One of the things that means is biotech.

Biotech is a startup industry that Southern Californian already does and does well. Biotech is our version of Silicon Valley and information technology. And that's good, because biotech could be the next big thing. I went down to Orange County earlier this week to find out how and dropped by a new biotech incubator, TechPortal Orange, at the UC Irvine Medical Center.

In SoCal, we need to stay on our game, because Fred and his ilk are a sharp crowd. If they want New York to play in the biotech space, I wouldn't write them off. New York already has a very well-established network of world-class medical institutions. There are experienced VCs in the neighborhood. The Big Apple could easily catch up.

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