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Employment Black Holes The key to the wealth of cities

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CIV is proud to present a first peek into the upcoming Issue 5 of Coller Venture Review, dedicated to City Venture.

In Employment Black Holes by Yesha Sivan and Nathan Zeldes, the cosmological analogy to a black hole is used to illustrate a major problem facing city leaders – and to show its solution.

In the flat, smooth world of the 21st century the desirable jobs that make cities successful are easily sucked away to other cities and countries. The authors liken this to the effect of black holes: a city that is recognized as the best place to be for a given domain will suck in all the action in that domain, the way Israel pulls in Cyber/IT ventures, Shenzhen is a focal point for hardware ventures, Houston attracts Energy ventures, and Silicon Valley pulls in anything hi-tech.

The article then points out the solution you need: a city wishing to retain enduring jobs and success must create its own black hole in a domain where it has an “unfair advantage” – ideally based on a local attribute or resource that can’t move elsewhere.

Examples of successful black holes and their underlying advantages will give the you ample food for thought, which can be processed into crucially valuable outcomes for cities wishing to survive and thrive in the new world we live in.

 

Click here to access the full article

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