SV is getting a lot of mind share because of packaging 'technology' into end consumer products/services iphone, facebook social networks etc and yes taking a big share of the profits. But for some decades already its been a global network and supply chain enabling all of the supporting components and systems.
TSMC & Samsung manufacture in Taiwan, Korea with ASML machines from the Netherlands, cloud servers running Linux (finish developer) enable app developers in every corner of the world.