I asked Grok/AI how much influence does the NASDAQ (Wall Street) have on the economy of NY City. It took a minute....but eventually came back to say three facts:
1. Out of NY City's total GDP....reaching $1.3-trillion....the insurance/investment sector represents around 30-percent of the GDP.
2. Of the GDP....the brokers and 'dealers' represent a fair chunk of this 30-percent number (maybe as much as 20-percent).
3. Finally, one in ten NY City jobs....are attached to NASDAQ.
What happens if NASDAQ leaves? For about a year, I've been observing rumors of NASDAQ discussing the idea of leaving. This was mostly due to Mamdani-chatter. So I asked Grok about that idea.
First, Grok talks of a 'ripple-effect'....where just plain NYers talk of leaving....with NASDAQ following that trend, and then 'other' companies following (a lot of insurance companies make NY City their headquarters.
As for picks for the new location? Grok discussed Miami, Dallas, Nashville, Austin, and New Jersey. Number one pick? Dallas.
I'm of the mind that the insurance companies might not locate with NASDAQ....meaning they might choose Nashville or Miami....while the NASDAQ picks Dallas.
How quick could they move? In 2026? I doubt it. You'd probably see the first wave in mid-2027.
How flipped-out would NY City be....if both the NASDAQ and insurance companies leave? The governor would go nuts in a matter of minutes.
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