If the combination of Covid-19 and remote work technologies like Zoom have undercut the role of cities in economic life, what might an even more robust technology like the metaverse do? Will it finally be the big upheaval that obliterates the role of cities and density? To paraphrase Airbnb CEO Brian Chesky: The place to be was Silicon Valley. It feels like now the place to be is the internet.
The simple answer is no, and for a basic reason. Wave after wave of technological innovation — the telegraph, the streetcar, the telephone, the car, the airplane, the internet, and more — have brought predictions of the demise of physical location and the death of cities. Time and time again, such prognostications have been proven wrong. And while the pandemic has changed where and how people work, the trend of talented people, innovation, and economic activity becoming increasingly concentrated in fewer and larger superstar locations has consistently proven durable….
This article was written by Vladislav Boutenko and originally published on hbr.org