Quote:
Originally Posted by homebucket
As it stands currently, 3 out of the Big 5 (Amazon, Apple, Google, Facebook, Microsoft) were born and bred in Silicon Valley. If you consider FAANG (Facebook, Amazon, Apple, Netflix, Google), 4 out of the 5 are from Silicon Valley. If Toronto is able to build one of these types of companies, then I think it’d be more worthy of the tech superpower recognition.
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MS and Amazon both have deep funding roots in the Bay Area as well.
But you bring up a good point, the Valley's dominance in tech has also made the Bay Area the most consequential urban agglomeration in the world as far as equity capital.
US Companies, $200 Billion+ Market Capitalization
7 August 2020
Apple $1.900 Trillion(Bay Area)
Microsoft $1.611 Trillion(Seattle)
Amazon $1.586 Trillion(Seattle)
Google $1.017 Trillion(Bay Area)
Facebook $764 Billion(Bay Area)
Berkshire Hathaway $509 Billion(Omaha)
Visa $418 Billion(Bay Area)
Johnson & Johnson $391 Billion(NY)
Walmart $368 Billion(Fayetteville, AR)
Proctor and Gamble $330 Billion(Cincinnati)
Mastercard $328 Billion(NY)
JP Morgan Chase $302 Billion(NY)
United Health $301 Billion(Minneapolis)
Home Depot $292 Billion(Atlanta)
NVIDIA $275 Billion(Bay Area)
Tesla $270 Billion(Bay Area)
Verizon $251 Billion(NY)
Walt Disney $234 Billion(Los Angeles)
PayPal $233 Billion(Bay Area)
Bank of America $226 Billion(Charlotte)
Netflix $218 Billion(Bay Area)
Adobe $215 Billion(Bay Area)
AT&T $213 Billion(Dallas)
Intel $205 Billion(Bay Area)
Coca-Cola $205 Billion(Atlanta)
Merck $204 Billion(NY)
Cisco Systems $200 Billion(Bay Area)
11 of the 27 $200B+ companies are based in the Bay Area, with a combined current market value of $5.7 Trillion.
Which means now we're talking about tens of millions investment and retirement accounts directly impacted by happenings in the industry but more specifically in local companies.
So when we talk about 'tech', I dont think people realize the gravity of the topic.
This is why when people and reports and articles gleefully predict the Bay Area's downfall(theyve been doing it since the 90s btw) and/or being surpassed by somewhere else, Im always like *Yawns* good luck.
#Superpower