New York learns a valuable lesson about subsidies

• The deal followed a story from WSJ that Facebook was in talks to lease 700,000 square feet in the city.
• "Combined with Facebook’s other recent deals in the city, such a move would catapult the social-media company into the top ranks of the city’s largest corporate tenants," Morris noted.

Why it matters: The move brings Amazon to New York in a major way and shows that it doesn't take billions of dollars in giveaways for the city to attract the top names in tech.

• The N.Y. Times notes that the "lease does not qualify for the kind of tax credits and other government sweeteners the company had won in exchange for building a huge campus in Long Island City."

Of note: Critics charged that Amazon's HQ2 would have brought with it 25,000 jobs. However, that number was an estimate of jobs from Amazon that was not vetted by any outside party, and the jobs theoretically would have been created over 10 to 20 years.

• The company had planned to hire just 700 people in its first year of operation and increase that to 3,000 the following year.

Go deeper:

• BP to provide Amazon with renewable electricity for European data centers
• Fake 5-star reviews proliferate online
• The techlash zeroes in on Amazon