Silicon Valley is the United States hub for groundbreaking technology firms. It is located in California and is home to more than two thousand technology companies. The dynamic networks that have arisen from the Valley's innovative companies include venture capital investments, a revolutionary high-risk, and a high-reward investing paradigm.
How did Silicon Valley start?
It was while the Great Depression was going on when the concept of Silicon Valley was given. Stanford Engineering Professor "Frederick Terman" planned to build more career options for his graduates. He encouraged his students (two of them) and provided grants for them so that they could start up a high-tech business named after them. Later, Frederick Terman was appointed as the Dean of the Engineering School after World War II. He urged the faculty to serve on the boards of the new ventures.
Silicon Valley is building a hub for creative businesses to become extremely competitive. It produces employment, additional tax revenue, and better stock prices. This presents the United States with a strategic edge over other nations. The most popular Silicon Valley firms include Facebook, Netflix, Tesla, Yahoo, Apple, Twitter, eBay, and Google.
How Silicon Valley has changed the World?
The key reason for the rise of Silicon Valley is its cooperative spirit and cultural diversity. The teamwork amongst the companies has rendered them even more effective. Professional networks have resulted in an easier and better exchange of information. It is feared that the star performers might quit an organization to launch their own firms and try new ideas. However, non-competition clauses were prohibited by the State of California so, as a result, workers concentrated on supporting each other to fix issues.
Silicon Valley has brought so many innovations in the realm of technology in the past two decades that are enough to overshadow the inventions in the past two hundred decades. Silicon Valley has transformed the world with its technological inventions by bringing the smart-minds together and making this world a global village.