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What Makes Silicon Valley: a Recipe

From a great newsletter! Get your own at Web Strategy by Jeremiah.

INGREDIENTS:

  1. A culture that embraces failure. Only 5% of startups win, but they win big, embracing the other 95% required for persistent innovation.
  2. Ample education in technology & entrepreneurship. Successful tech regions have multiple colleges and a culture of continual learning.
  3. Plentiful Venture Capital??not just Government money. Free market Venture Capitalists are needed to bolster community as Governments can create friction for startups.
  4. Successful entrepreneurs re-invest??not retire. Once a CEO cashes out they mentor others and invest funds back into the ecosystem.
  5. Density of population to foster serendipity. Most innovation happens in urban areas, which fosters a higher intersection of people and ideas.
  6. Attractive quality of life. Talented workers can work anywhere, so attract them with diverse culture, temperate weather, quality lifestyle.

Jeremiah Owyang is an innovator and collaborator, his articles are so well-baked you’ll want to enjoy all of them.

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