There was a point in the late '90s where all the graduating M.B.A.'s wanted to start companies in Silicon Valley, and for the most part they were not actually qualified to do it. ↗
On the back end, software programming tools and Internet-based services make it easy to launch new global software-powered start-ups in many industries - without the need to invest in new infrastructure and train new employees. ↗
Our combination of great research universities, a pro-risk business culture, deep pools of innovation-seeking equity capital and reliable business and contract law is unprecedented and unparalleled in the world. ↗
People are so bad at driving cars that computers don't have to be that good to be much better. Any time you stand in line at the D.M.V. and look around, you're like, Oh, my God, I wish all these people were replaced by computer drivers. ↗
Tech stocks are trading at a 30-year-low when compared to the multiples of industrials (companies). It's the weirdest bubble when everyone hates everything. ↗