there is an entrepreneurial risk culture in the valley that is as important to
in the valley that is as important to
in the valley that is as important to the it is as key of a reason why Silicon
the it is as key of a reason why Silicon
the it is as key of a reason why Silicon Valley exists as any other reason I mean
Valley exists as any other reason I mean
Valley exists as any other reason I mean the primary reasons are the
the primary reasons are the
the primary reasons are the entrepreneurial risk culture the role ma
entrepreneurial risk culture the role ma
entrepreneurial risk culture the role ma twitch role models are a very big part
twitch role models are a very big part
twitch role models are a very big part second is the University Stanford and
second is the University Stanford and
second is the University Stanford and Berkeley there wouldn’t be a Silicon
Berkeley there wouldn’t be a Silicon
Berkeley there wouldn’t be a Silicon Valley if they weren’t Stanford and
Valley if they weren’t Stanford and
Valley if they weren’t Stanford and Berkeley constantly bringing in human
Berkeley constantly bringing in human
Berkeley constantly bringing in human capital which decides to stay here cuz
capital which decides to stay here cuz
capital which decides to stay here cuz it’s so nice and and third certainly for
it’s so nice and and third certainly for
it’s so nice and and third certainly for the number of companies that start is
the number of companies that start is
the number of companies that start is the financial infrastructure as well and
the financial infrastructure as well and
the financial infrastructure as well and then fourth is the Beehive effect you’ve
then fourth is the Beehive effect you’ve
then fourth is the Beehive effect you’ve got a lot of extraordinarily talented
got a lot of extraordinarily talented
got a lot of extraordinarily talented people and the Beehive effect says that
people and the Beehive effect says that
people and the Beehive effect says that that it’s a lot more efficient to have
that it’s a lot more efficient to have
that it’s a lot more efficient to have that talent and all those companies
that talent and all those companies
that talent and all those companies together and let me give you an example
together and let me give you an example
together and let me give you an example when you want to start a company you
when you want to start a company you
when you want to start a company you need to hire some experienced people
need to hire some experienced people
need to hire some experienced people just can’t hire people out of school
just can’t hire people out of school
just can’t hire people out of school most of the time so you have to hire
most of the time so you have to hire
most of the time so you have to hire some experienced talent well you’re
some experienced talent well you’re
some experienced talent well you’re going to ask somebody leave a job maybe
going to ask somebody leave a job maybe
going to ask somebody leave a job maybe they have a family and come to your
they have a family and come to your
they have a family and come to your place to work well if your company’s in
place to work well if your company’s in
place to work well if your company’s in Montana and they move their family and
Montana and they move their family and
Montana and they move their family and your company fails there is not another
your company fails there is not another
your company fails there is not another company in Montana they go to work for
company in Montana they go to work for
company in Montana they go to work for most likely so you have to move again as
most likely so you have to move again as
most likely so you have to move again as where if you all you have to do is
where if you all you have to do is
where if you all you have to do is convince them to turn left instead of
convince them to turn left instead of
convince them to turn left instead of right down the road to go to work in the
right down the road to go to work in the
right down the road to go to work in the morning but they keep their same house
morning but they keep their same house
morning but they keep their same house their kids don’t have to change school
their kids don’t have to change school
their kids don’t have to change school etc and if your company fails well they
etc and if your company fails well they
etc and if your company fails well they just go get a job another week at some
just go get a job another week at some
just go get a job another week at some other company you have a much higher
other company you have a much higher
other company you have a much higher probability of recruiting them and so
probability of recruiting them and so
probability of recruiting them and so that’s the beehive effect and those four
that’s the beehive effect and those four
that’s the beehive effect and those four things together I think are why Silicon
things together I think are why Silicon
things together I think are why Silicon Valley is today you know what it is the
Valley is today you know what it is the
Valley is today you know what it is the entrepreneur your preneur you’ll risk
entrepreneur your preneur you’ll risk
entrepreneur your preneur you’ll risk culture has a lot to do with with role
culture has a lot to do with with role
culture has a lot to do with with role models starting off with Hewlett and
models starting off with Hewlett and
models starting off with Hewlett and Packard and models of engineers that
Packard and models of engineers that
Packard and models of engineers that started companies models of marketing
started companies models of marketing
started companies models of marketing people that started companies and you
people that started companies and you
people that started companies and you know even some spectacular failures some
know even some spectacular failures some
know even some spectacular failures some of the failures are you know as widely
of the failures are you know as widely
of the failures are you know as widely discussed as the as the successes and
discussed as the as the successes and
discussed as the as the successes and even some you know even the failures
even some you know even the failures
even some you know even the failures people are admired for trying and I
people are admired for trying and I
people are admired for trying and I think they pick themselves
think they pick themselves
think they pick themselves dust themselves often you know go get a
dust themselves often you know go get a
dust themselves often you know go get a job maybe they don’t own the company
job maybe they don’t own the company
job maybe they don’t own the company maybe they’re not a founder of the next
maybe they’re not a founder of the next
maybe they’re not a founder of the next company but they’ve got a really good
company but they’ve got a really good
company but they’ve got a really good job and you know there’s no real chance
job and you know there’s no real chance
job and you know there’s no real chance that they’ll end up destitute
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