Sadly it’s part of a wider trend of gentrification that’s happening in a lot of major cities. Patti Smith herself has gone as far as saying that “Detroit is the new New York”.
All you creative young things eager to make it in the big city, Patti Smith has a suggestion: get out. "New York has…observer.com
And it’s easy to forget that 95% of Silicon Valley startups don’t make the first year. For every Facebook that’s worth billions, there are dozens of Webvans and Friendsters.