How 1871, Is Helping to Make Chicago a “Midwest Silicon Valley”

From the City Club of Chicago — Howard Tullman, the CEO of the business incubator, “1871” shows how Chicago is developing a growing reputation for launching new technology firms, and helping to diversify the Chicago economy.

Tullman shows statistics that demonstrate the changing nature of employment in billion dollar industries — and how technology is allowing many firms to reach high level sales with a fraction of the employment needed in years past. That’s both good and bad. It means businesses are more profitable, but the same technology means fewer people will have employment than in years past.

As the economy changes at a rapid pace, Tullman’s insights help us understand a bit more of what’s going on in the economy as the pace of change speeds up.