Silicon Valley
Most are only allowed to invest in deals where some reputable
private VC firm is willing to act as lead investor.
Not Buildings
If you go to see Silicon Valley, what you'll see are buildings. But it's the people that make
it Silicon Valley, not the buildings. I read occasionally about attempts to set up "technology
parks" in other places, as if the active ingredient of Silicon Valley were the office space. An
article about Sophia Antipolis bragged that companies there included Cisco, Compaq, IBM,
NCR, and Nortel. Don't the French realize these aren't startups?
Building office buildings for technology companies won't get you a silicon valley, because
the key stage in the life of a startup happens before they want that kind of space. The key
stage is when they're three guys operating out of an apartment. Wherever the startup is
when it gets funded, it will stay