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The Work-From-Home Revolution Will Be The Best Thing To Ever Happen To Silicon Valley

This year has been an enormous economic challenge for our country. The Covid pandemic has forced businesses to close and lay off workers in droves, and caused sharp changes in how and where people work – disrupting families and careers.

But one of the few silver linings of 2020 has been companies transitioning to remote work en masse, a development so significant it has the power to reshape how tech — the most powerful industry in our economy — operates, and it just might unite our bitterly divided nation, too.

Silicon Valley has long been a cradle of tech innovation, and the region’s grasp on the industry has only tightened over the past decade. The tech industry is the primary driver of the U.S. economy — the five largest tech companies account for 23.8% of the S&P’s market value — and the industry is overwhelmingly located in the Bay Area. Of the seven most profitable companies in tech, five of them (Apple, Cisco, Facebook, Google and Intel) are based in Silicon Valley, and the majority of venture capital investments are in companies based in the region.

For decades, tech visionaries thought this concentration of talent was a necessary condition for success, but recently tech firms have come to recognize its downsides.

By focusing operations in the Bay Area, the tech sector was not only limiting its talent pool but also driving down the quality of life in the region. These problems escalated during the startup boom of the past 20 years, as people flocked to the Bay Area, making housing increasingly unaffordable and driving up the cost of living. Housing affordability in the Bay Area hit historic lows in the late 2010s, with residents needing to earn nearly $200,000 in 2019 to afford a median priced home, or three times the national median income.

It’s no wonder that the biggest companies in Silicon Valley have created outposts in cities not typically associated with tech. Apple’s second largest office is now in Austin. The SalesForce Tower in Indianapolis is the tallest building in the state of Indiana. And cities like Salt Lake and Denver are emerging as tech hubs.

  1. Lower costs for companies
  2. Increased quality of life for workers
  3. A more talented, diverse workforce
  4. A more unified country Read more via Forbes

Pemo Theodore

Pemo Theodore is a Media Publisher & Event Producer and a great people connector.. She is Founder/CEO Silicon Valley TV which has served the San Francisco Bay Area for 11 years! She has produced Silicon Valley Events for Investors & Startups for 9 years. Pemo loves to video interview venture capitalists & founders to engage the human behind the success stories.. She has been Executive Producer of FinTech Silicon Valley for 5 years, organizing twice monthly FinTech talks & panels in San Francisco & Palo Alto. She believes in learning through a great discussion with experts in the domains. Pemo has a talent to bring the right people together and is an incredible networker. Pemo's events have been seen as supporting Venture Capitalists & Angels in sourcing great deal flow from startups who attend her events. Many founders have received funding through meeting investors at her events. Her favored medium is visual media and she has built up a great body of work of videos of panels & interviews in Silicon Valley.startup ecosystem.

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