The Valley’s economic boom has been a long time coming. Over the past few decades, Silicon Valley has experienced an incredible transformation. From a sleepy bedroom community in Northern California to today’s global technology powerhouse, the valley has undergone a meteoric rise. Today, Silicon Valley is home to some of the world’s leading technology and Internet companies.
These giants employ thousands of people in offices across the valley; from San Francisco to Mountain View and Palo Alto to Menlo Park. In fact, more than 5,000 employees work at firms headquartered in Silicon Valley, with an average industry salary of $347,000.
he valley is also experiencing unprecedented growth — measured both by size and importance. Today, over 3,300 companies operate out of Silicon Valley, employing 16 million people across five counties. This makes it the third largest economy in California and one of the largest tech economies in North America.
And while its prominence is growing by the day, it still has much farther to go before matching its early days as a bedroom community for computer scientists and engineers during the late 1960s and ’70s.
What’s driving the valley’s growth?
The key question behind every discussion of the future of Silicon Valley is what is driving the growth. Big data, AI, VR/AR, the internet of things, and blockchain are some of the major factors causing the valley to rise quickly and reach new levels of prominence. Whether these booms last is another question entirely, but they have been a big positive for the valley and the San Francisco- Silicon Valley region in particular.
The tech boom of the last decade
The tech boom of the last decade has been a major driver of the valley’s growth. During this time, the number of employees at the top tech firms in the valley grew from around 600 to over 5,000. And the number of employees at the average firm grew from just under 100 to almost 1,000.
The average employee at a tech firm in the valley makes $107,000, which is higher than the national average of $90,000 for all occupations. This high level of compensation can be partly attributed to the presence of large tech companies in the valley. The Valley’s tech sector is also home to a large number of high-paying jobs, with median salaries of $185,000.
The Singularity is happening
Singularity is a concept that has been discussed at length by many in the valley and tech community. The Singularity is the point at which artificial intelligence and robotics reach a level of general intelligence that is orders of magnitude more advanced than any biological creature.
This will occur when artificial intelligence is as powerful as human intelligence and can create and destroy devices on an industrial level. It has been argued that this might occurs around the time of the next great technological breakthrough, such as the Internet of Things or 5G.
A lot has been written about the Singularity and the subsequent technological singularity over the years, but the basic idea is that of an exponential growth in power of AI and robotics. It is argued that at this point in time, AI and robotics are at the same level of general intelligence as humans are and will likely reach within the next decade.
This future is described as a time of upheaval and transformation in business, technology, and even human culture. It has been described as a “new world order,” and as a “post-human century.” Singularity also has a simpler, human-centered definition: the point at which AI and robotics become more human-like and can do things that people can do, like language understanding and empathy.
Food and drink in Silicon Valley
As the economic center of the world, it is easy to forget that Silicon Valley is a place with a lot of culture. Whether it’s the nightlife, food or general feel of the place, there is something about living in Silicon Valley that feels very different from living in other major cities. As with any large city, there are areas where things can get a little more intense.
And while it’s easy to forget in the heat of the day, much of Silicon Valley is filled with parks, gardens and incredibly beautiful places to work and play. The Valley also has some of the best restaurants in the world, which are often located in high-end hotels. There are also plenty of places to find healthy, home-cooked meals.
One of the more popular options here is Farmer’s Market, which is held every Saturday near Union Square.
What lies ahead for Silicon Valley?
As the economic center of the world, it is easy to forget that Silicon Valley is a place with a lot of culture. Whether it’s the nightlife, food or general feel of the place, there is something about living in Silicon Valley that feels very different from living in other major cities.
As with any large city, there are areas where things can get a little more intense. And while it’s easy to forget in the heat of the day, much of Silicon Valley is filled with parks, gardens and incredibly beautiful places to work and play. The Valley also has some of the best restaurants in the world, which are often located in high-end hotels. There are also plenty of places to find healthy, home-cooked meals.