"government contracts, proximity to Stanford, California labor laws"
You forgot the weather.
In the early 50s, the local office of the US Geological Survey declared that Redwood City (my home) had the most pleasant weather in the US. We adopted the city slogan "Climate Best By Government Test", and it's still on the entrance sign. I've been here 40 years, and the weather really is worth paying a little more rent.
As to gummint contracts: defense kept Silicon Valley going until the 80s. Defense by law could not entertain single-source contracts. As a result, AMD started up down the street from Intel as the second source for all Intel chips. Intel sent their hand-drawn blueprints down the street via courier, and AMD figured out how to make them. AMD's target was 35% of the market for each chip. This is why AMD exists! In the 80s, Congress relaxed these rules and AMD had to stand on their own two feet, which they did. Other such second-source companies have faded out.
Because of no-single-source contracts and California laws banning non-compete contracts, the engineering talent kept training on the job and growing. Monopolies reduce the total number of experienced personnel.
With AI, we are dead set on firing everybody and losing our edge. We have seen peak Silicon Valley.
America's seemingly endless capacity for renewal, and it's broad-shouldered approach to risk, seems to me to have likely first come across the Atlantic with the original pilgrims. The Plymouth Pilgrims' central quest was for spiritual renewal, seemingly no matter the risks involved. Further, in terms of the early spawning of a relatively aggressive culture of risk-taking in America, it surely helped too that John Winthrop, a Puritan and the first Governor of the Massachusetts Bay Colony, was a merchant who regarded the creation of individual and collective wealth as a sign of divine providence . From the get-go, Americans seem to have believed that to get rich was to be nearer to God.
Thank you - a good reminder that American Optimism is one of the most desirable traits in a human. Combine it with a British nose for bull$hit and you have a winning combination.
The fascinating thing about business decisions is they affect every aspect of society, from how we invest in research, to how people conduct their daily lives. It requires therefore a broad education and a profound understanding of basic psychology.
To give a simple example: should you invest in manufacturers of electric vehicles? Are they actually the future or are you headed for financial complications with this approach? Well you should read my article: why piston engines can outcompete EVS if you had a knowledge Renaissance.
Suppose you want to assess investing in Jeff Bezos' or Elon Musk's space technology? Well you should read my article: the Magnificent E-rocket.
Suppose you're thinking of investing in quantum computing as the big new thing that's going to be a massive disruptor? Well you certainly should read some of my articles in particular: unmasking quantum mechanics: when did magic become science.
What if you're thinking of investing in the Trump families company that's planning on going public to build a fusion reactor? Well you definitely should read by article titled: who says the sun is not a fusion furnace? Dinosaurs that's who! There I explain that it's impossible to get energy fusing atoms where some leftover mass magically turns into energy.
Or suppose you would like to take advantage of this spectacular knowledge Renaissance and make a fortune? Try reading: I sent this letter to TVs shark Superstar Barbara Corcoran under the subject title: we desperately need your social media skills to save civilization.
If you don't want to become the richest person on earth taking over piston engine production, maybe you'd like to just be incredibly rich helping me get these ideas out? Try reading my article titled: why do we accept such ridiculous ideas as science? Then you can make wise business decisions!
"government contracts, proximity to Stanford, California labor laws"
You forgot the weather.
In the early 50s, the local office of the US Geological Survey declared that Redwood City (my home) had the most pleasant weather in the US. We adopted the city slogan "Climate Best By Government Test", and it's still on the entrance sign. I've been here 40 years, and the weather really is worth paying a little more rent.
As to gummint contracts: defense kept Silicon Valley going until the 80s. Defense by law could not entertain single-source contracts. As a result, AMD started up down the street from Intel as the second source for all Intel chips. Intel sent their hand-drawn blueprints down the street via courier, and AMD figured out how to make them. AMD's target was 35% of the market for each chip. This is why AMD exists! In the 80s, Congress relaxed these rules and AMD had to stand on their own two feet, which they did. Other such second-source companies have faded out.
Because of no-single-source contracts and California laws banning non-compete contracts, the engineering talent kept training on the job and growing. Monopolies reduce the total number of experienced personnel.
With AI, we are dead set on firing everybody and losing our edge. We have seen peak Silicon Valley.
What a great article. Thank-you Marc.
America's seemingly endless capacity for renewal, and it's broad-shouldered approach to risk, seems to me to have likely first come across the Atlantic with the original pilgrims. The Plymouth Pilgrims' central quest was for spiritual renewal, seemingly no matter the risks involved. Further, in terms of the early spawning of a relatively aggressive culture of risk-taking in America, it surely helped too that John Winthrop, a Puritan and the first Governor of the Massachusetts Bay Colony, was a merchant who regarded the creation of individual and collective wealth as a sign of divine providence . From the get-go, Americans seem to have believed that to get rich was to be nearer to God.
Thank you - a good reminder that American Optimism is one of the most desirable traits in a human. Combine it with a British nose for bull$hit and you have a winning combination.
Many thanks, Marc! Good stuff!
Excellent, as always.
The fascinating thing about business decisions is they affect every aspect of society, from how we invest in research, to how people conduct their daily lives. It requires therefore a broad education and a profound understanding of basic psychology.
To give a simple example: should you invest in manufacturers of electric vehicles? Are they actually the future or are you headed for financial complications with this approach? Well you should read my article: why piston engines can outcompete EVS if you had a knowledge Renaissance.
Suppose you want to assess investing in Jeff Bezos' or Elon Musk's space technology? Well you should read my article: the Magnificent E-rocket.
Suppose you're thinking of investing in quantum computing as the big new thing that's going to be a massive disruptor? Well you certainly should read some of my articles in particular: unmasking quantum mechanics: when did magic become science.
What if you're thinking of investing in the Trump families company that's planning on going public to build a fusion reactor? Well you definitely should read by article titled: who says the sun is not a fusion furnace? Dinosaurs that's who! There I explain that it's impossible to get energy fusing atoms where some leftover mass magically turns into energy.
Or suppose you would like to take advantage of this spectacular knowledge Renaissance and make a fortune? Try reading: I sent this letter to TVs shark Superstar Barbara Corcoran under the subject title: we desperately need your social media skills to save civilization.
If you don't want to become the richest person on earth taking over piston engine production, maybe you'd like to just be incredibly rich helping me get these ideas out? Try reading my article titled: why do we accept such ridiculous ideas as science? Then you can make wise business decisions!