The Wallstreet Experience
After having one day off, we started the forth day in Wallstreet to understand the roots, history and importance of the former financial district in New York.
John our tour-guide showed us the most representative buildings and explained why they used to be very important for New York and whole America. As a matter of fact most of the buildings in Wallstreet are no financial institutions anymore and are used now as museums, housing or shops for example. To fit the current needs of the financial sector, with all its new technologies, most of the companies are located in Midtown nowadays.
Finally John stated that history had a huge impact on the geography of New York. Manhattan, Manna-hata (many hills), has its name because it used to be a hilly land but the more the city grew, the more it was made flat.
The tour ended with a short trading game where the delegation could make their own experiences as traders.
The second stop today was at NYU Incubators where Alex Goldberg explained to us the role of a venture capitalist. As an Investor he has to decide which startup companies he will support with financial resources. There is a big number of factors he has to take into consideration, as for example the team behind the company, the strategic intent, the execution risk, the market conditions, the supporting network of the company as well as the stage.
One very interesting aspect he mentioned was the DNI of a company. There are for example unicorns, that want to establish something new and unique in their market environment like for example Airbnb or Huber. These companies can be seen as Pioneers or Gamechangers. Then there are also so called Early Exit companies, which are established with the aim of being successfull and then sold in a few years.
After his presentation, the delegation had the chance to see two pitches of two absolutely different startups operating in different markets and which also are in different stages.
Lary Wilmore late night show
In the afternoon we had the great chance to see the recording of the late night show of Lary Wilmore. It was a hilarous and exciting experience all delegation members enjoyed a lot.