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Transcript of Silicon Valley
The period was a marked by the founding (and, in many cases, spectacular failure) of a group of new Internet-based companies commonly referred to as dot-coms.
Silicon Valley is the southern region of the San Francisco Bay Area in Northern California, United States. The region occupies roughly the same area as the Santa Clara Valley where it is centered. It is home to many of the world's largest technology corporations as well as thousands of small startups
The term originally referred to the region's large number of silicon chip innovators and manufacturers, but eventually came to refer to all high-tech businesses in the area, and is now generally used as a metonym for the American high-technology sector.
Despite the development of other high-tech economic centers throughout the United States and the world, Silicon Valley continues to be a leading hub for high-tech innovation and development, accounting for one-third of all of the venture capital investment in the United States
This led anyone who wished to create a startup company to do so in Silicon Valley.
The surge in the number of Silicon Valley startups led to a number of venture capital firms expanding their Valley offices.
Stanford University, its affiliates, and graduates have played a major role in the development of this area. During the 1940s and 1950s, Stanford's dean of engineering and provost, encouraged faculty and graduates to start their own companies.
The rise of Silicon Valley was also bolstered by the development of appropriate legal infrastructure to support the rapid formation, funding, and expansion of high-tech companies, as well as the development of a critical mass of litigators and judges experienced in resolving disputes between such firms.
By the early 1970s, there were many semiconductor companies in the area, computer firms using their devices, and programming and service companies serving both. The growth was fueled by the emergence of the venture capital industry
Silicon Valley is generally considered to have been the center of the dot-com bubble. After the dot-com crash, Silicon Valley continues to maintain its status as one of the top research and development centers in the world.
Innovation is the key to success in today’s global economy across all industries in Silicon Valley.
Continuous reinvention is required to keep pace with the rapid pace of change.
The basis of increasing productivity is innovation not competing on cost
Productivity is the basis for prosperity
Silicon Valley has the highest concentration of high-tech workers of any metropolitan area, with 285.9 out of every 1,000 private-sector workers.
Silicon Valley has the highest average high-tech salary at $144,800. It also has the most millionaires and the most billionaires in the United States per capita
Silicon Valley, is formed by a constellation of cities, companies, research and education Institutions, that has impacted the world more than any other occurrence since the Renaissance.
Silicon Valley is a phenomenon of continuous outpouring of creativity, inventions, and discoveries.
Silicon Valleys of the World
The best places for entrepreneurship around the globe