CEO Steve Ballmer: While it is easy to think that Silicon Valley is the only place to be as a start-up, this is not always the case. Microsoft Corporation (NASDAQ:MSFT) CEO Steve Ballmer recently discussed the fact that Chicago has what it takes to make great strides in terms of developing a highly efficient digital hub.
Microsoft is one of the hedge fund industry’s most popular stock picks, and it’s always important to pay attention to the smart money (see just why here).
In an article published by the Chicago Tribune, there are many interesting points showing why the Windy City has what it takes to make a move into the upper echelon of successful tech start-up cities.
In addition to an increase in venture capital as well as top notch educational institutions, the city has good quality of life. That being said, Ballmer went on to discuss the fact that Chicago “still lacks solid tech anchors.”
He said, “Almost every place that is successful with start-ups has one or two or more big companies that have made it in the tech field.”
In front of roughly 250 tech entrepreneurs and software developers at start-up hub 1871, Ballmer went on to add the following:
“Right now you have some that are sort of emerging, like Groupon, and Motorola is sort of in flux.”
He also touched on how start-up companies should forget about the risk of failure and dive into their dream headfirst:
“Whether you succeed or fail, you will be smarter and better and will have new opportunities that come out of this.”
Of course, it makes sense for Microsoft Corporation (NASDAQ:MSFT)’s Ballmer to spend some time in Chicago, Illinois. The article explains that the city recently “signed a four-year deal to move its 30,000 employees’ email and desktop applications to Microsoft cloud computing.”
Do you agree with this assessment of Chicago’s tech scene potential? Share your thoughts in the comment section below.
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DISCLOSURE: I have no positions in any stock mentioned.
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