Can Bankrupt Detroit Learn From Silicon Valley?

 
 
 

Everyone seems to think so.

First, Fast Company writer Chuck Salter writes that the bankruptcy is really more of a “pivot.” That’s all well and good, although what exactly will the city be pivoting to? A village? A robot jungle?

Salter does bring up the interesting cases of Detroit entrepreneurs like Dan Gilbert, who offered to purchase an unfinished jail on the day of Detroit’s bankruptcy and turn it into office and residential space. Gilbert is also a business partner of Magic Johnson, and FC reports he has invested over $1 billion in the Detroit tech scene — a number which we find dubious.

Matt Yglesias of Slate also takes the sunny-side view of the bankruptcy, noting that bankruptcies are a valuable corporate tool that can result in profitable turnarounds.

If it worked for American Airlines it can work for Detroit, right?