CNBC: Technology Fuels Detroit’s Resurgence

So, check this out. Yesterday I was in the office and all these folks walked by with credentials on and cameras and people buzzing around them.

I thought, “who’s the famous person here today?”

After all, it’s not like celebrities are that rare around here at Quicken Loans. I’ve shaken hands with the Fonz on the elevator, taken a picture with Erin Cummings, brushed past Magic Johnson getting off the elevator, nodded hello to Ndamukong Suh in our floor lobby, and been told by Jeff Daniels to not take his picture.

So, when I saw the commotion, I tried to see who it was walking around our floor. I couldn’t really tell so I continued on my merry way.

Turns out it was CNBC and they were filming a video about Detroit and technology. About how techology is fueling a big change in downtown Detroit. This video is really cool. Here it is. I’ve included the transcript after the video:

 

Detroit is a lasting symbol of course of the great recession, the near collapse of the auto industry and at one point 18% unemployment.
 
A few years later it’s still a stubborn 10.5%, But the city is clawing back.
 
Part of the resurgence is technology. not kidding. Brian Shactman is on the streets of Detroit to explain. Brian. You know, Tyler, this building’s name — it’s kind of a cute symbol, right? But it is representative of what’s going on in detroit. this building was an old office space for a theater.
And then Dan Gilbert, who is a native of detroit and also chairman of Quicken Loans based in Detroit and owner of the Cleveland Cavaliers, bought the abandoned space and he renovated it. The whole thing, specifically with start-ups in mind. VC firm Detroit Venture Partners seated a slew of startps hoping to become a fast but lasting economic anchor for detroit.
Create value and wealth a lot economy manufacturing. So you have a long runway in manufacturing. You’re going to have five or seven years maybe from conception to building a plant. Where in the technology businessas we all know the time frame is shorter and the investment of capital is a lot shorter. One really interesting start-up is called UpTo as in “what are you up to.?”
Basically Facebook chronicles the past, Twitter captures the present, and UpTo wants the future. People create a network and not only access their schedules but communicate about them. Here’s an example. Iwant to meet Tyler for coffee. I see he has lunch with Sue, dinner with Bill Griffeth. I can find out if he can squeeze me in. And Gregg Schwartz, who moved back home from New York City is one of the co-founders. “We live in a day and age where you can build a technology company anywhere and in many ways I think we’re at a competitive advantage being in Detroit. We can offer competitive salaries that can go a lot further in an environment like Detroit. And, you know, you don’t get lost in the shuffle in Detroit. By that he means in New York or Silicon Valley, it’s another ambitious app. Here it’s high priority and profile. this at symbol isn’t just for show. Twitter just got an office upstairs.
Twitter just got an office upstairs. Indeed.
 
Downtown Detroit is coming back folks. Believe that!
 

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