I agree. Fast internet is necessary but not (even close to) sufficient.

One of the first things I noticed after moving to Silicon Valley was that internet access here is surprisingly bad and expensive. You'll likely only have one choice and have to live with it. Most areas in Europe will give you faster, cheaper, and more options to choose from. I got used to it but still don't get why in the heart of tech you can't get 1 Gbit or even 100 Mbit connections for a reasonable price.

So is electricity and water. Can you make a good silicon valley with kick-ass water supply? The article's premise is broken.

But even 25Mb/s (the current US broadband standard) is enough to start a tech business. As long as you don't experience any interruptions, you could readily host your systems on the cloud, and then migrate your business to somewhere more internet ready / pay for better internet when you get the cash.

You mean there is no chance for a tech boom in Australia ?