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10 Silicon Valley Facts Every Entrepreneur Should Know

Silicon Valley – a fantastic moniker that conjures lots of images, right?

That’s because, in real life, it’s also a fantastic place. And entrepreneurs and business people agree!

But just how interesting is this place outside of its fancy reputation and name? The following are some of the most interesting facts about America’s most popular technology hub.

1. It Started with a Garage.

I know. You’re sensing a pattern here. Microsoft? Disney? Harley Davidson? Dell?

Like all those giant companies, Silicon Valley essentially started with a garage. The “starters”? The founders of Hewlett Packard.

Yes, that’s William Hewlett and David Packard.

It was in their garage in Palo Alto that paved the way to the rise of Silicon Valley.

But why “Silicon Valley”?

2. “Silicon Valley”: Behind the Name.

And no, it’s not because the valley is made of silicon, although that could be true metaphorically.

This place in California is the center of technology. And a lot of the companies there are in the electronics industries.

These companies manufacture HUGE numbers of electronics and computer parts. And you guessed right, yes, they manufacture silicon chips for most semiconductors.

The exact name didn’t come from a vacuum, though. It was Don Hoefler who first used the name Silicon Valley, USA.

He used the name in the title of his newspaper article at the Electronic News in January 1971.

3. “Valley of the Heart’s Delight”.

And we’ve got more scoops about its name. However, let’s backtrack a little and talk about its geography.

Major cities in the region are San Jose, Palo Alto, Santa Clara, Sunnyvale, and Mountain View. San Jose is the biggest city.

And Silicon Valley itself, as the name suggests, is a valley – a region in Northern California in the famous Santa Clara Valley. It is the point of interest in this item.

Santa Clara Valley, in the mid-20th century, boasted amazing and colorful cherry blossoms. They bloom in the spring season.

And because of the aesthetic, people started calling the place the “Valley of the Heart’s Delight.”

4. Used to be a Navy Research Facility.

There used to be the US Navy’s Moffet Field where the valley is currently located. Yes, we know. A tech hub with the presence of the military facility sounds a lot like a spy thriller setting, or somewhere along those lines.

But the ambiance in the San Francisco Bay Area looked a lot more sci fi-ish than spy-ish. A lot fewer conspiracy theories too.

Apart from that, the Valley now houses R&D centers for various schools like Stanford University.

Stanford started the establishment of its services in the area. Soon after, industries from both private and public sectors followed suit.

5. Surviving the Great Depression.

The Great Depression was a, well, greatly depressing time in US history. It changed a lot of things, and a lot of things changed because of it. Some for the worse, but also some for the better.

But Silicon Valley stood the test and came out even better than before the crisis hit.

During that time, there was high unemployment, overproduction, and deflation in the early 1920s and 1930s. Adding to the turbulence was the workers’ decision to join labor unions to push for fair wages.

But the Valley survived, sustaining businesses amid the political struggles.

6. Average Salary.

As one might expect from a techno hub in all of the USA, the average salary in the Valley is comparatively high. The official average is around $122,242 every year.

Directors and Managers are the highest takers. But if you’re lucky and stumble upon the product development engineering team, you can expect around $173,570 every year.

For other figures, the total profit of the Valley is around $250 billion. The whole turnover of the world economy, meanwhile, is around $75 trillion.

7. Home of Popular and Influential People.

And of course, such high-rolling figures are complete with high rollers. The Valley is home to some of the most powerful and influential people in the world.

Among these names are Steve Jobs, Steve Wozniak, and Tim Cook (Apple Inc.). There’s also Elon Musk with his Boring Company and Tesla.

Mark Zuckerberg and Mark Marcus – that’s a lot of Mark[c]s there! – have Facebook. Jack Dorsey from Twitter is also on the list.

Marc Benioff has cloud computing, while Travis Kalanick served as the Uber CEO (before getting kicked out).

High rollers!

8. Expensive Adorable Homes.

And because we got high rollers in the region and higher salaries, well, expect real estate to also be up there.

A standard four-bedroom house is around $2.8 million. We know, it’s staggering. And it rises every day.

In 2018, a report showed that a one-acre dirt lot area – yes, empty lot, with nothing – had a price of $15 million in Palo Alto. The business opportunity in the area pushes the price up.

Giant companies can afford that, and giant companies buy land in the area to develop into businesses.

9. Diversity in the Workforce.

And in Silicon Valley, there’s diversity. The workforce brags different genders, orientation, nationalities, race, colors, and background. Really, if you’re obsessed about inclusivity, here’s a place for you.

And this makes sense because the talent, innovative vision, and skills do not discriminate. They don’t have any gender or color. They exist in people regardless of whatever.

Of course, there are unfortunate cases of harassment and discrimination. But in a world-famous techno hub like the Valley, it’s just a matter of time before these cases and perps get rooted out.

10. Mecca for Startups, Innovators, and Inventors.

And need we say it? The place is all over the map of the rich, powerful, and influential. That’s because it’s some sort of a Mecca for startups, innovators, and innovators.

A lot of now-titanic companies started humbly in the Valley as startups. Companies like Facebook, Twitter, Google, Apple, and more have their headquarters in this place.

It would not be an exaggeration if we say Silicon Valley is the home of the future.

Conclusion.

With all of these facts about the Valley, who wouldn’t want to be there? It surely will survive through years of innovation and development. If you’re thinking of putting up a startup or business, it’s probably the place to be.

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Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.

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