Can Russia pull off a Silicon Valley?
time.com
time.com
The main problem with SV these days is that it's not a cost-effective place for startups any more:
Average monthly rent (2006): $2,162 (two bedroom, two bath)
Average monthly rent (2005): $2,111 (two bedroom, two bath)
Average monthly rent (2006): $1,754 (one bedroom, one bath) Average monthly rent (2005): $1,613 (one bedroom, one bath) Median monthly rent in 1990: $825 Median monthly rent in 1960: $162
Source: http://www.paloaltoonline.com/com_info/by_the_numbers.php
Doubling in 15 years? Rent is one of those things that essentially amounts to a sunk cost, in the long-term. I think Silicon Valley has seen its glory days, and the greedy insanity of the property managers/landlords/etc. will ultimately do the place in.