Friday, July 05, 2013

Silicon Valley’s New Jersey Problem

Challenging Vivek Wadhwa at Pacific Standard magazine.

Theme: Economic convergence of innovation.

Subject Article: "Silicon Valley Can’t Be Copied."

Other Links: 1. "Zero-Sum Creative Class."
2. "Keep Albany Weird."
3. "The Rise and Sprawl of San Diego’s Tech Hotspots."

Postscript: The article about San Diego's tech scene is a worthwhile read. Most places are chasing only the Millennial generation. The approach in San Diego is more holistic and, therefore, more challenging to the hegemony of Silicon Valley. As for why Silicon Valley and not Boston or New Jersey, I blame social capital. Too much, not too little, social capital undermined the expansion of the Innovation Economy in New Jersey. I think the same affliction now grips Silicon Valley. A good example is the geography of venture capital. The golden apple doesn't fall far from the tree. Venture capital is restricted by the distance decay of trust, a.k.a. the "twenty minute" rule. The resulting parochial culture took a bizarre turn with Sean Parker's wedding among old growth Redwoods. The cry for immigration reform rings hollow.

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