New York's answer to Silicon Valley and the hunting ground of many a trust fund kid, the alley is usually defined as the area running from the downtown financial district up through the flatiron district in Manhattan and comprised of a large number of small and medium-sized Internet companies.

Compared to Silicon Valley, Silicon Alley is more of a Hallway than an Alley; a small microcasm of Media Companies that are still trying to figure out how to make money.

The city government, through tax incentives, is trying to lure emerging companies to the area, but ask any business person worth their salt and they'll tell you: "All the real companies are in California."

"If 1 out of 10 don't fail in the valley, the odds are more like 1 in 20 here."

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