The Atlantic magazine recently published an interview with Steve Blank titled ‘The Golden Age of Silicon Valley Is Over, and We’re Dancing on its Grave’
“The headline for me here is that Facebook’s success has the unintended consequence of leading to the demise of Silicon Valley as a place where investors take big risks on advanced science and tech that helps the world. The golden age of Silicon valley is over and we’re dancing on its grave. On the other hand, Facebook is a great company. I feel bittersweet.” says Mr Blank. “I think it’s the beginning of the end of the valley as we know it. Silicon Valley historically would invest in science, and technology, and, you know, actual silicon. If you were a good VC you could make $100 million. Now there’s a new pattern created by two big ideas. First, for the first time ever, you have computer devices, mobile and tablet especially, in the hands of billions of people. Second is that we are moving all the social needs that we used to do face-to-face, and we’re doing them on a computer.”
To borrow from Harry Truman, “The reports of SV’s death are greatly exaggerated”. Silicon-based innovation was just the initial phase. SV innovation has continued to evolve with advances in hardware, software, and applications that capitalize on the two . SV has always pursued the Next Big Thing, and the Killer App. Facebook is just one of a parade of these seen in the Valley.
Technology is the enabler, not the end of a longer innovation value chain. By definition, innovation continues to evolve and this fares well of Silicon Valley’s future.