Job Mobility and the Exchange of Ideas
Serial entrepreneurs and venture capitalists obviously didn't appear out of nowhere. One reason they are more numerous in California is that the legal environment lends itself to the creation of innovative companies. Stanford professor Ronald J. Gilson, an expert on Japan and venture capital, discusses this in an article. In 1996, he analyzed the contrasting destinies of Silicon Valley and Route 128, the technology corridor near Boston. There, in the early 1980s, prestigious universities like MIT spawned most of the great names in technology, including Wang and DIGITAL.[6] But the climate soon changed.
One of the main reasons Silicon Valley flourished while its eastern counterpart stagnated was that California ...
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