Make America Bohemian Again

The Chelsea thrived because it stuck to Philip Hubert’s original vision: to house and nurture New York’s creative community — and do so while still being affordable and open to all. It is unlikely that the Chelsea will house the next wave of American creativity (the hotel was closed in 2011, and the new owners are converting it into a pricey boutique hotel. Many of the rooms, including Bob Dylan’s, have since been destroyed.) Yet while New York city’s greatest art colony is all but dead, its structure and ethos continue to enrich American culture — albeit in a different way, and on an entirely different coast.

Yet despite the lucrative returns of Y Combinator and other startup accelerators sprouting up around the USA (like TechStars, 500 Startups, AngelPad and SeedCamp) no ambitious community-building projects exist for American arts like they do for American tech. While most talented tech gurus can find a startup accelerator to join (and fund them), aspiring artists are told to get a bedroom in Brooklyn or move to Iowa for an MFA — both of which cost upwards of $40,000 a year and don’t come with a patron.

Summing up the net worth of the Chelsea’s most famous residents […] the Chelsea Hotel was responsible for more than 2.1 billion dollars of value creation while it was open. That estimate is only going off of the net worth of the artists themselves — not all of the downstream albums or paintings or ticket sales they contributed to (i.e. a single painting by Pollock fetched $200M and Kubrick’s 2001: A Space Odyssey took in more than $190M at the box office. A single room of de Kooning paintings was estimated to be worth as much as $4B.) The funny thing? Despite their obsession with wealth, most startup accelerators don’t even come close to matching the economic impact of the Chelsea Hotel — much less its cultural impact.

via https://medium.com/@bagelboy/make-america-bohemian-again-de846e35d757