Silicon Valley

Can California Survive a Tech Bust?

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California’s economic revival has sparked widespread notions, shared by Jerry Brown and observers elsewhere, that its economy — and policy agenda — should be adopted by the rest of the country. And, to be sure, the Golden State has made a strong recovery in the last five years, but this may prove to be far more vulnerable than its boosters imagine.  read more »

Why Socialism Is Back

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Even as Venezuela falls deeper into crisis, and the former Soviet bloc nations groan under its legacy, socialism is coming back, and in a big way. Its key supporters are not grizzled pensioners yearning for Marxist security, but a whole new generation, most of whom have little memory of socialist failure.  read more »

Amazon Eats Up Whole Foods as the New Masters of the Universe Plunder America

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“We must make our choice. We may have democracy, or we may have wealth concentrated in the hands of a few, but we can’t have both.” —Justice Louis Brandeis

With his $13.7 billion acquisition of Whole Foods, Amazon’s Jeff Bezos has made clear his determination to dominate every facet of mass retailing, likely at the cost of massive layoffs in the $800 billion supermarket sector.  read more »

The Superstar Gap

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The biggest challenge facing many cities in transitioning to the knowledge economy is a shortage of “A” talent, especially true superstars.

All “talent” isn’t created equal. Crude measures such as the percentage of a region with college degrees, or even graduate degrees, don’t fully capture this. It is disproporationately the top performers, the “A” players and superstars that make things happen.  read more »

The Silicon Valley Mindset

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The tech industry is one of the most powerful entities affecting our world. But who are these people? And what do they believe and how do they think about the world? A couple of recent articles provide a window into this.  read more »

The California economy's surface strength hides looming weakness

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If you listen to California’s many boosters, things have never been so good. And, to be sure, since 2011, the state appears to have gained its economic footing, and outperformed many of its rivals.  read more »

California: The Republic of Climate

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To some progressives, California’s huge endorsement for the losing side for president reflects our state’s moral superiority. Some even embrace the notion that California should secede so that we don’t have to associate with the “deplorables” who tilted less enlightened places to President-elect Donald Trump. One can imagine our political leaders even inviting President Barack Obama, who reportedly now plans to move to our state, to serve as the California Republic’s first chief executive.  read more »

How the Visa Ban Will Hurt US Innovation

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A key reason for the prosperity found in the United States is the ability of universities and companies to attract the best and brightest people from abroad. Shutting out skilled individuals from entire countries could have grave consequences for America’s intellectual institutions as well as knowledge-intensive businesses. The obstacles put in place following the 2001 terrorist attack did reduce the position of the US in the global competition for talent, yet the regulations were about increasing security and allowed those that had been screened to enter.  read more »

Globalization's Winner-Take-All Economy

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“If you are a very talented person, you have a choice: You either go to New York or you go to Silicon Valley.”

This statement by Peter Thiel, the PayPal founder and venture capitalist, unsurprisingly caused a stir, given that he made it in Chicago. Simon Kuper had made a similar observation in the Financial Times when he described how young Dutch up-and-comers had their sights set on London, not Amsterdam. “Many ambitious Dutch people no longer want to join the Dutch elite,” Kuper wrote. “They want to join the global elite.”  read more »

The Demographics of Poverty in Santa Clara County

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Tucked away in the bottom corner of the San Francisco Bay, tech royalty make themselves at home in their silicon castles. Santa Clara County is the wealthiest county in California, and 14th in the nation, boasting an average median household income of $96,310. However, where there are kings, there must be subjects. Despite its affluence, Santa Clara remains one of the most unequal counties in the United States.  read more »