October 27th, according to CNBC, Peter Thiel is a heavyweight entrepreneur and investor who has made his own business in Silicon Valley. He created PayPal, an online payment company, and led its successful listing. He was an early investor in Facebook and Airbnb, and later founded the software company Palantir Technologies. But now, the billionaire has said that the monopoly of Silicon Valley for big technology companies has ended.
Tyre said at the Future Investment Initiative in Riyadh, the capital of Saudi Arabia, “In the past 20 years, I have invested in entrepreneurship and investors in Silicon Valley technology. In the past 10 to 15 years, the United States and the entire The world's IT technology is concentrated in Silicon Valley. I think there are many reasons for this, but the question is: 'Where will the growth point in the next 10 years be?' I tend to think that it will begin to become more diverse from Silicon Valley."
In a small area of ​​California, the presence of global technology companies is always a special feature of the industry. Tyre said: “In Silicon Valley, there are many very contradictory things because after all, these Internet companies are global. They can establish offices anywhere. You only need talented people, capital, and the right management structure. So this is always a very strange question: Why do these high-tech companies choose to work in such a specific place?"
Till pointed out that before this, successful technology companies were almost monopolized in Silicon Valley, largely because of entrepreneurial knowledge and mentoring. He said: "The answer to this question is related to network effects, knowledge, and role models, but I think there are also huge opportunities outside of Silicon Valley."
The number of venture capital transactions in California still ranks first in the world. According to the latest data released by the National Venture Capital Association and PitchBook, in the third quarter of 2017, 580 companies in California received venture capital. Among them, the number of venture capital transactions in New York ranked second, there are 188, accounting for 32% of total California transactions.
But when Tyre considers the next major technology deal, he will think globally. He said: “In the past few years, the most interesting place outside of Silicon Valley has been China. There have already been a lot of eye-catching companies. I don’t think there are other similar places. It does not refer to a specific city or country. But I think, in general, there are many opportunities outside of Silicon Valley." (Small)
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