Silicon Valley. A Model That Pays to Be Emulated?

Presentation / Essay (Pre-University) from the year 2019 in the subject English Language and Literature Studies - Other, grade: 1,0, , course: Wissenschaftspropädeutischen Seminars, language: English, abstract: This paper tries to carve out the reason why Silicon Vallay is sucessful as it is and asks the question if this model can be emulated. Against expectation, Silicon Valley is not defined by its location, as the name might reveal, but much more by the mindset of its residents. It is a lot more than a bay area, it is a culture of thinking and doing. Silicon Valley is characterised by a mentality that accepts failing as a step towards success. Furthermore, it is the motivation of start-up founders to make a change from which humanity can ideally benefit. It is a culture of exchange and help. Enterprises from the bay including their services and products have influences on the entire world. The innovations of our time seem to have one origin: Silicon Valley. Computers, the internet, smartphones or social media are world changing products that all come from an area that is smaller than the Saarland. Steve Jobs and Elon Musk are considered to be the new Edisons and Gutenbergs. The whole world seems to be uncompetitive as if the Valley had its own natural laws with boundless success. Has Silicon Valley a monopoly on the innovations of our time, being built in a factory without any capacity limits? Which were the historical steps to today's Silicon Valley? Is it justified by historical events? Or is it rather a matter of geographical incidents? Are economic factors required and social factors even more indispensable? How do the US, international markets and humanity in general profit from Silicon Valley-based companies? What can we learn from this unique place? These are the questions which the author shall try to answer. After a short overview over the Valley´s historic formation the author examines the reasons for its success before turning his attention towards its importance for the USA and the international market. Finally, the occurring problems of the Valley are also analyzed before giving a conclusive overview over the work´s findings.