DYLAN TWENEY
VentureBeat

Is it time to occupy Silicon Valley?

In my latest column for VentureBeat, I try to make some sense of the Occupy movement and its relevance to Silicon Valley. I was wondering why the protestors weren’t targeting local icons of wealth and power, like VC firms, Google, Oracle and Apple. The more I thought about it, the more I realized th
Dylan Tweney 1 min read

In my latest column for VentureBeat, I try to make some sense of the Occupy movement and its relevance to Silicon Valley. I was wondering why the protestors weren’t targeting local icons of wealth and power, like VC firms, Google, Oracle and Apple.

The more I thought about it, the more I realized there were good reasons for this. But there’s still something a little off about the relationship between wealth and social responsibility here.

Here’s an excerpt from the column. Let me know what you think.

I’ll admit, I’m a bit confused by the movement and its targets — but the answer, I think, has to do with the way finance works in Silicon Valley versus Wall Street.

In broad strokes, Silicon Valley investors are focused on building huge, billion-dollar companies. While you can get to a billion dollar valuation, at least temporarily, with a really weak, unscalable idea, you can’t stay there long without creating something of real value. You certainly can’t create a billion dollars in revenue without doing something meaningful — and, by the way, employing a lot of people along the way.

Wall Street, by contrast, defines “innovation” in terms of new financial instruments: investment vehicles that are increasingly complex and hard to understand and that do little for the country besides generate record profits for the banks that invented them.

Full story: Dylan’s Desk: Is it time to occupy Silicon Valley? | VentureBeat.

Share

DYLAN TWENEY

If you're bored, you're not paying attention

Great! You’ve successfully signed up.

Welcome back! You've successfully signed in.

You've successfully subscribed to DYLAN TWENEY.

Success! Check your email for magic link to sign-in.

Success! Your billing info has been updated.

Your billing was not updated.