UrbanTech: The Marriage of Cities and Technology
Diving into the rising tech vertical in Canada
“When technology makes density more valuable, cities will be more attractive. When technology makes density less valuable, cities will be less attractive.” — Rohit T. Aggarwala from The First Principles of Urbanism: Part I
Following the 2008 financial crisis, the world witnessed the incredible growth of start-ups in mobility, food delivery, co-living and co-working. Indeed, I am talking about the likes of Uber, DoorDash, Airbnb and WeWork whom by many estimates have a combined valuation exceeding $100B, and a footprint that exceeds many of their traditional counterparts in their respective fields.
The meteoric rise of such urban ventures was only made possible by, and to some extent is a mere reflection of, the increasingly urbanized world that we currently populate. In the US, 1 in 7 Americans currently lives in either New York, Los Angeles or Chicago. In Canada, 1 in 13 Canadian lives in the City of Toronto alone. In both countries, over 80% of the population live in urban areas, and the trend is projected to continue in the future. The chart below surfaces similar trends in other parts…
