Watch The Silicon Valley Ecosystem Online

We use the term, frequently, ecosystem. The value that you all have training at Stanford and being in the Silicon Valley in the Bay Area is enormous. It is an environment unlike any other environment I’ve ever seen and anybody has ever created. There is certainly an ecosystem in Boston. There is a little bit of one in San Diego. But in the United States, those are the hubs for innovation. In Europe, they haven't been able to pull this together. China, we're doing a lot of work there. They're starting. India, not really. It's really unique. What makes this unique is culture. So the fact that this course exists is a perfect example of the culture of entrepreneurship. You have to have technical expertise in your area. One of the major takeaways for you is, if you're thinking about going into a startup company, starting a company on your own, working with somebody, go work in your sweet spot. Work in an area that you understand and you know. Eventually, you can branch out, but when you start, work in an area where you have expertise. There is a lot of talent. There's a lot of capital, and that all comes together very nicely in this ecosystem. I thought about changing this talk. I gave a similar talk down in Southern California that is trying to build an ecosystem like Silicon Valley. They're not there, and there are key elements that are missing. So I'm going to show you a slide on Northern California and a slide on Southern California, but imagine that you are in Kentucky or you are in New York City - tries to do this, and it's just not the same. You'll get it when I show you the examples. Talent and scale, the slide speaks for itself. Why are the companies so important? Companies are important because they're training grounds. That's where you learn the basic elements of how to operate and how to put pieces together. We get a lot of talent from the bigger companies that are formed here in Silicon Valley. When I put this together, I struggled to find a...