By Vinnie Lauria, Golden Gate Ventures The Silicon Valley stereotype is one of rugged American individualism and Darwinian survival: the brilliant inventor who risks it all to build a billion dollar company from a parent’s garage or a college dorm room. Outside-the-box thinking and self-reliance are viewed as fundamental to the [...]
Scooped by
Richard Platt
onto Internet of Things - Company and Research Focus |
The combination of iterative business models, execution, and geographic network effects has created a dynamic environment in which entrepreneurs can build upon each other’s successes and failures. That is not to discount the value of traditional scientific innovation and basic R&D as important “real drivers” of progress. However, the Valley’s comparative advantage has not been in innovating. Rather, it provides the environmental and cultural incentives necessary for companies to commercialize products and technologies through a process of constant iteration.