People wonder how does a Silicon Valley get started? Even more curious is how does a Silicon Valley keep repeating itself? Here is the answer, or at least part of it. Kleiner Perkins started a $100 million venture fund to invest only in companies building applications for the iPhone. They just announced another $100 million venture fund to invest only in companies building applications for the iPad. Do they think the iPad is going to be a success? Is superman a comic book hero? of course.
Most parts of the USA could not even put together a $100 million fund at all, much less targeted to support a single product-that is not even shipping yet. But Kleiner Perkins know that Apple Computer is a category creator- an industry creator. They believe, like I do, that the iPad will be a common device in most every home. Surfing the web and watching TV is the new normal. Every TV will have an iPad nearby. It will be more common than a newspaper because it is the new newspaper in one of its many iPad lives. It is also a cloud computer. And so on.
Silicon valley unlike other states or geographical areas, invests in itself. That is how it keeps growing despite a slow economy. I have already ordered my ipad. Have you?
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