Silicon Alley rapid halt during the early 2000s recession. During this economic contraction, many internet companies in Silicon Alley folded. The recession also affected publications that covered the sector. After the dot-com bust, the "Silicon Alley Reporter" was rebranded as "Venture Reporter", in September 2001, and sold to Dow Jones. Self-financed AlleyCat News ceased publication in October 2001. A couple of years after the dot-com bust, Silicon Alley began making its comeback with the help of NY Tech Meetup, and NextNY. On December 19, 2011, then Mayor Michael R. Bloomberg announced his choice of Cornell University and Technion-Israel Institute of Technology to
CADRE Laboratory for New Media is the second oldest media lab in the United States and has a long and notable list of alumni. CADRE offers BFA and MFA degrees in Digital Media Art. CADRE has published SWITCH, an online journal of new media, since 1995. SWITCH and CADRE were early centers of the net.art movement that coincided with the Dot-com bubble in nearby Silicon Valley. The CADRE labs have historically worked closely with the ZeroOne Biennial, one of the foremost new media art exhibitions in the world. In 2006, CADRE, along with SJSU served as the academic hosts for the ISEA symposium and ZeroOne