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Lessons From Silicon Valley

Lessons From Silicon Valley . Cathy Anterasian Spencer Stuart, Silicon Valley Jeff Hauswirth Spencer Stuart, Toronto. Today’s Discussion. Silicon Valley overview Key factors that make it unique Opportunities for Canada.

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Lessons From Silicon Valley

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  1. Lessons From Silicon Valley Cathy Anterasian Spencer Stuart, Silicon Valley Jeff Hauswirth Spencer Stuart, Toronto

  2. Today’s Discussion • Silicon Valley overview • Key factors that make it unique • Opportunities for Canada

  3. Where? Southern part of the San Francisco Bay Area in Northern California Diverse Population of 2.5 million White: 41% Asian: 28% Hispanic: 25% African American: 3% Native American: 1% Other 3% Average Wages: $73,300 Amongst the highest real estate and cost of living Boasts 10 of the most inventive towns in the U.S. (Wall Street Journal) Has “World Class” Universities (Stanford, Berkeley) One in five has a graduate or post graduate degree; one in four is a university grad Very high concentration of Fortune 1000 tech firms (Adobe, Apple, Business Objects, eBay, Google, HP, Intel, Sun MicroSystems) “HQ” of thousands of others About 30% of all venture capital in the U.S. is spent in Silicon Valley Silicon Valley Overview

  4. Great Universities Counter Culture Critical Mass Innovative Financing Venture Capitalists Military Complex Risk Takers Pioneers Great Climate Silicon Valley Start-up Scene Relaxed Atmosphere Toleranceof Failure Tolerance of “Crazy Ideas” Lack of Hierarchy Information Freeflow HighlyCreative Dense Social Networks Fiercely Competitive Catalysts History Culture & Lifestyle

  5. The Pioneers Bill HewlettDavid Packard Fred Terman William Shockley “The Fairchild Eight”

  6. The Lure and Contributions of Great Universities

  7. In Silicon Valley Big Companies…Seed Many

  8. New Stars Formed

  9. Among the Estimated 70 Companies that Fairchild Semiconductor Spawned…

  10. Critical Mass of Venture Capital

  11. Infrastructure and Specialized Services • Office space • Lawyers • Accountants • Investment Bankers • Executive Recruiters • Marketing Consultants • Etc.

  12. Risk Taking Dream Big… …It’s OK to fail… …As long as you learn

  13. Think Big “From the beginning at Intel, we planned on being big. We had no idea at all that we had turned the first stone on something that was going to be an $80 billion business.” Gordon Moore, Co-Founder, Intel

  14. DNA of an Entrepreneur Something to prove Over achievement Obsessive Visions of Grandeur Drive to win Fear of Obsolescence

  15. Serial Entrepreneurs Steve Jobs Marc Andreessen Donna Dubinsky

  16. Networking in the Silicon Valley: Bars, Diners, Living Rooms and High Schools “Founders Brunch”

  17. David Sze Very Close Networks Feedster Greylock Joe Krause Linkedin Wink Omidyar Network Obvious Digg Frank Caufield Michael Tanne Marc Andressen Facebook Dogster Peter Thiel Wikia Michael Arrington Josh Kopelman edgeto Reid Hoffman Aydin Serkut Ron Conway Friendster Rapleaf Video Egg oDesk Jeff Clavier Benchmark Capital Six Apart Intel Capital David Hornik August Capital

  18. Silicon Valley is the Right Setting Typical hierarchy Flatter, accessible, informal

  19. The Valley’s Unconventional Routes to the Top

  20. Opportunities for Canada

  21. Issues for Discussion • Can the conditions that exist in Silicon Valley, Boston, Tel Aviv be replicated in Canada? How do you foster the concentration of companies and people? • A common theme in highly successful hi tech regions is that of serial entrepreneurship. Does the same mentality/culture exist in Canada? • Does Canada have the right technology clusters, from a market potential, financial and human capital perspective, to build global titans? • Does your culture reward risk taking? Do you think big enough? • Do you have or can you create the "network effect" that exists in Silicon Valley?

  22. Issues for Discussion • Can you create a world leading educational institution that attracts and retains the brightest minds in the world, such as an MIT or a Stanford? • Does Canada’s immigration policy allow the recent graduates to emigrate? • Do start-ups have sufficient access to capital ? Does your tax structure incentivize early stage investment? • Does Canada have a sufficiently large enough local market to support a high level of start-ups? Will the internet and offshore resources be the equalizer?

  23. Looking Ahead • Even if all the conditions don’t exist, success can still be had – San Diego, Austin, Seattle… • Canada has its success stories…BNR, Nortel, RIM, ATI…but just not enough of them • The foundation is in place…the challenge is to build upon it

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