a day ago
- The key to creating a Silicon Valley is attracting the right mix of rich investors and nerdy founders, not buildings or government programs.
- Government bureaucrats make poor startup investors because they lack the experience, motivation, and personal stake of private venture capitalists.
- Universities are essential as magnets for smart people, but they must be located in a city with personality—intact centers, youthfulness, tolerance for odd ideas—that nerds enjoy.
- Startups grow organically: successful ones spawn new founders and investors, and this chain reaction takes time, typically years, and cannot be forced.
- A new technology hub can compete with Silicon Valley by offering a better quality of life, avoiding suburban sprawl and preserving charm.