People have been calling the death of Silicon Valley or its replacement by other parts of the world since I arrived over 20 years ago.
Silicon Valley will never die. There are too many rich people here, and the culture is too strong.
Did Hollywood die because films were made globally? Nope. It’s even stronger.
Silicon Valley has had its ups and downs but it will always be the center of the universe for innovation. The closest it got to death was the dotcom bust, but all that really did was get rid of all the weak players. And when the next cycle crashes again, it will again drive away a lot of the weak players again. But the core innovators and people who love technology will never leave and that will always attract more talent.