One might be curious what Silicon Valley will look like in the future. Will it be a giant tech bubble that bursts with countless tech companies buried in their graves, or will this prosperous region in the United States continue to be a land of innovation and opportunity for decades to come?
Innovation Changes Hands
What people have to understand is how innovation has switched cities from time to time. For example, Springfield, Massachusetts, a small town that was smaller than the surrounding cities, sat at one of the most enviable crossroads in trade routes.
Because of its location, Springfield became a weapons manufacturing hub for the United States military. The city drew in some of the best talents from innovative companies. Up until the 1950s, Springfield was the heart thumping pulse of innovation in the United States.
What Happened? Does History Repeat Itself?
Before this time, the city was at the forefront of technological advancements. Sadly, when the 1960s rolled around, eastern manufacturers began to produce cheaper products and the local armory was shut down. This booming city turned into a shadow of its former self as manufacturing companies went out of business and became empty and dilapidated ruins of its former glory.
What Does This Show?
This isn’t to necessarily say that Silicon Valley will lose its title as the giant innovative city, but it shows how fragile this title of innovation can be. No one can predict the future. However, new things come up the pipeline to change how current things happen, and this can lead to a shifting of power. It was only 50 years ago that Silicon Valley became the mecca of the tech world, but some other region in the world could develop and attract the attention away from California.
What history has shown is how power changes hands occasionally, and what was once the economic beating heart of a nation can suddenly lose its power. The tech industry moves in cycles like most of the industries, and it has less to do with the economy over what it has to do with newly emerging technologies.
To give an example of how this works, take a look at the once powerful dot-com companies. When the dot-com crash of 2001 hit, the once prosperous companies like Cisco lost as much as 86 percent of their value. These examples go to show that Silicon Valley might not be as indestructible as what the average person thinks.
The takeaway? Well, it’s certainly not that Silicon Valley doesn’t have much to offer. Instead, focus on your talents, skills, and how you can tangibly implement them in the here and now. The location of talent may change, but developing your talent and working hard is the one true constant you can hold onto in the ever-evolving world of entrepreneurship.