The Siege of Silicon Roundabout

  Demolition site, Hoxton     

The Old Street roundabout is surrounded. The wrecking crews are converging from all directions. The traffic island whose geometry lends its name to the London home of tech start-ups, skinny jeans and wall-to-wall wall-art, is under siege. The decaying Victorian buildings which have incubated the successes and failures of the new information economy over the last few years are being torn down to make space for gleaming new steel and glass towers.

Silicon Roundabout was always a convenient, but somewhat misleading moniker. There are tech start-ups all over the city, with a significant number already housed in steel and glass at Canary Wharf – a very different social space from the coffee houses and boutiques of Hoxton and Shoreditch. Nevertheless the area does have a distinctive buzz, which it would be a shame to lose. According to one local estate agent, much of the new residential property is being bought off-plan by overseas investors looking for a safe haven for their cash, and may well remain empty once completed. And the office blocks creeping up Bishopsgate are mostly devoted to corporate finance and its besuited offshoots. Will the rather appealing well-heeled bohemian vibe survive the London property boom, or will the relentless march of investment capital clear yet another piece of the capital of lowlifes with less than six figure incomes?

 

  Demolition site, Hoxton                                        Private apartment block, City Road

Thanks to Steve Nathan for the estate agent research.  More pictures here.

Something is Happening Here

Anyone taking a stroll around the area to the east of London's Old Street roundabout for the first time might well start feeling like Bob Dylan's Mr Jones: you know that something is happening here, but you don't know what it is.

From high up on gable ends, right down to pavement level, sprayed onto walls, doors, shutters – flat surfaces of any kind – a painted army of the grotesque and the bizarre marches across the built environment. The buildings themselves are a contrasting mix of Victorian dereliction and the smartly modern. In between crumbling onetime industrial premises, recently converted factories and warehouses now host offices and apartments whose occupants are served by a growing number of minimalist galleries, fashionable bars, and Macbook-infested coffee shops.

The demographic is mostly young – twenty to thirtysomething – techy, tapered jeans and T shirts, some strange haircuts. The place is buzzing. Builders' cranes break up the skyline. The massive new concrete viaduct of the East London Line sweeps over road junctions and vacant lots. It doesn't feel like the recession has reached these parts, despite its proximity to Threadneedle Street.

But what's driving all this is not visible from the street. Hidden away in the new workspaces are between 300 and 600 tech 'start-ups' (estimates vary), some already pulling in big money, others hoping to justify the faith of their venture capital investors. People call this 'Silicon Roundabout'. The government prefers 'Tech City', but either way it's clearly thriving - the closest thing we've got to an economic success story.



Of course, economic crisis and government-induced austerity are not far away. Rough sleepers and rougher drinkers still hang out in the subways leading out of Old Street tube (it has free public toilets, an important facility for the homeless); at lunchtime, beggars sit on the ground by sandwich bars and cash machines. Not everyone is an IT entrepreneur: there are car washers and security guards, bar workers and shop assistants - and the occasional older resident or passer-by who may have lived there all their lives, but look about them as though they have strayed inadvertently onto another planet.

Why here? Immediately to the south, the steel and glass towers along Bishopsgate appear to be creeping relentlessly northwards; to the east, Stratford City is being sterilised in preparation for the Olympics. But for the moment rents are relatively cheap, and this, together with what Wired has described as 'a critical mass of available programming talent, and just enough outside investment', has combined to produce a place that actually makes stuff.

This is what unplanned regeneration looks like. It's not consumption-led, like Westfield's mega-mall in Stratford, or reliant on ever-inflating property prices, like the speculative scorched earth schemes favoured elsewhere in the capital (Hammersmith & Fulham's proposals for Earls Court, for instance). It's organic, a by-product of a new industrial revolution. There are still boarded-up buildings, makeshift conversions, and scrappy rubble-strewn corners, but it's a lot more interesting than the monolithic conceits of top-down re-development. And even if Mr Jones doesn't know exactly what it is, it's definitely not Desolation Row.

More photos here.

The Next Big Thing?

Since photo-blogging website Lightbox launched in June 2011, two million users have downloaded its Android mobile phone app.

According to co-founder and CEO Thai Tran (above), the site was originally conceived as a photography bolt-on to Facebook, Twitter and other social media platforms. It soon evolved into something rather more ambitious when it became clear that many photographers – both amateur and professional - were using it as a stand-alone gallery for their work. Version two, launched in December, added social features enabling following and sharing, and very quickly established its own stand-alone community.

As well as direct access to the Lightbox website, the Android app contains an optional integrated QuickSnap camera. Like the popular Instagram and Hipstamatic apps for the iPhone, it offers in-phone image editing tools, but allows a choice of less stylised image outputs than the iOS programmes.

Tran isn't worrying about income streams – both access to the website and the app download are free. Twitter took three years to turn a profit, and Facebook took five, by which time it had 300 million users worldwide. For now, and for the next eighteen months, the priority for him and his eight-strong team is building the Lightbox user community, not revenue.

Will it be the next 'big thing'? The venture capital funded company is unusual in being so directly focussed on photography, but it is just one of several hundred tech start-ups now operating out of what has been dubbed 'Silicon Roundabout', the run-down but rapidly gentrifying commercial district around the Old Street roundabout, just north of the City of London. The government is hoping the area will become a London version of California's Silicon Valley, birthplace of some of the biggest businesses on the planet, and set up its Tech City initiative in 2010 to help make this happen.

Tech City has its critics, but IT entrepreneurs are widely seen as crucial in rebalancing the UK economy away from its over-reliance on the financial sector. Whether this happens, and whether Lightbox makes it up there with the global US brands, we'll have to wait and see. In the meantime, take a look at the Lightbox website. There's a surprising amount of interesting stuff on show.

More pictures of Silicon Roundabout are here.