On the outskirts of the Bay area of California, is where technology has been thriving since the nineties. Silicon Valley has been the hub of the technology for years, and to this day is still flourishing and expanding. It has gone through ups and downs but through the struggle and the pain has come out stronger than before. Many companies who initially started as small companies eventually went on to become household names. How has the software industry effected Silicon Valley and it’s people? Read on if you’re interested in facts about Silicon Valley.
HP were the first to set up their offices in Silicon Valley. Once their company started they set a precedent for other technological companies to follow suit. Startup companies in particular were enamored by the charm of the valley and started creating a hub at the valley. This is because the location was ideal since it was near Stanford University and also because the rent was cheaper than other parts of California. It was also close enough to be a magnet to all the talent that was residing in San Francisco. Major companies like Netflix, Google and eBay started their humble beginnings here.
Before the internet explosion took over the world, in the early 1980’s Silicon Valley was a small technological hub. People still had no idea what the role of the computer was. There were many who feared that computer and technology would eventually take over their jobs and leave them homeless. Thus, they dubbed it the Valley of Death. By the end of the 90’s all of that changed and the fear subsided.
Judging by the name one might fall under false illusion that Silicone Valley is a small valley tucked away in outskirts. In-fact it actually consists of a very large area and has 30 cities that include Los Gatos, Mountain View, San Jose, Sunnyvale and many more. Over the last decade or so it has been expanding as more companies and people settle in. The talent to run these companies comes from all over the world. The three universities situated in Silicon Valley have also provided endless talent over the years.
Risk and success come hand in hand when it comes to innovation and technology. The risky part is not knowing if people will be drawn to your product or service. A lot of the small startups in the area are funded by Venture Capitalists, whose aim is to invest and then make more money out of the startups success. The original creators of the companies also own a huge chunk of their own shares because when the company is purchased or becomes a success there is still money coming in. There are a lot of millionaires in the area because it is a place where there is high risk and extremely high return on the software that they create.