Sailo, based in New York , is an American company that operates an online marketplace focused on boat and yacht rentals. The platform connects boat owners, licensed captains, and renters with people seeking to rent a boat.
106-555: Sailo was launched in September 2014 by Silicon Valley entrepreneurs and engineers Adrian Grădinaru, Magda Marcu, and Delphine Braas. Gradinaru came up with the idea after he found the experience of renting crewed boat overly complicated. The company initially had a presence primarily in Miami and New York before it expanded internationally two years later. In 2016, the company's fleet numbered around 4000 boats. In December 2015, Sailo completed
212-620: A United States Coast Guard licensed captain, although renters are expected to provide the necessary paperwork and licenses before being able to operate the vessels themselves. Instant booking, overnight charters, complete insurance, and fraud protection are offered, among other services. Sailo's inventory includes speedboats , sailboats , catamarans , and superyachts . The majority of Sailo's boats (90 percent in May 2018) are charter operated. In November 2016, Sailo launched its first Florida-to-Cuba charters. Silicon Valley Silicon Valley
318-524: A synecdoche for the American high-technology economic sector . The name also became a global synonym for leading high-tech research and enterprises, and thus inspired similarly named locations , as well as research parks and technology centers with comparable structures all around the world. Many headquarters of tech companies in Silicon Valley have become hotspots for tourism . "Silicon" refers to
424-718: A 13-week startup accelerator program from Techstars . It has raised multiple rounds of funding from angel investors. In August 2016, Sailo launched an iOS app. In June 2019, Romania's Neogen Group acquired a 9.4% stake in Sailo. Sailo connects private and boat charters globally with potential renters. It has been described as the “Airbnb of the Boat World/Boats” by The Wall Street Journal , El Nuevo Herald , and Vogue , while Forbes dubbed it “the next Airbnb for luxury yacht rentals”. Unlike other boat rental companies, Sailo allows boat owners to rent their boat with or without
530-604: A business context, the Information Technology Association of America has defined information technology as "the study, design, development, application, implementation, support, or management of computer-based information systems". The responsibilities of those working in the field include network administration, software development and installation, and the planning and management of an organization's technology life cycle, by which hardware and software are maintained, upgraded, and replaced. Information services
636-782: A city of only 50,000 people, "the densest concentration of lawyers" in the United States outside of Washington, D.C. By the year 2000, large law firms from all over the world were rushing to establish offices in the mid-Peninsula region on or near Sand Hill Road, and Silicon Valley law firms had become global trendsetters in that they were the first legal services employers to adopt business casual apparel (in imitation of their startup clients). During this era, lawyers evolved from their relatively narrow conventional role as protectors of intellectual property into business advisers, intermediaries, and dealmakers, and thereby acquired great prominence in Silicon Valley. For young entrepreneurs new to
742-534: A complete computing machine. During the Second World War , Colossus developed the first electronic digital computer to decrypt German messages. Although it was programmable , it was not general-purpose, being designed to perform only a single task. It also lacked the ability to store its program in memory; programming was carried out using plugs and switches to alter the internal wiring. The first recognizably modern electronic digital stored-program computer
848-475: A component of their 305 RAMAC computer system. Most digital data today is still stored magnetically on hard disks, or optically on media such as CD-ROMs . Until 2002 most information was stored on analog devices , but that year digital storage capacity exceeded analog for the first time. As of 2007 , almost 94% of the data stored worldwide was held digitally: 52% on hard disks, 28% on optical devices, and 11% on digital magnetic tape. It has been estimated that
954-441: A computer network, which he imagined as an electronic commons open to all, the main and essential medium of informational interaction for governments, institutions, corporations, and individuals. As head of IPTO from 1962 to 1964, "Licklider initiated three of the most important developments in information technology: the creation of computer science departments at several major universities, time-sharing, and networking." In 1969,
1060-570: A limited group of IT users, and an IT project usually refers to the commissioning and implementation of an IT system. IT systems play a vital role in facilitating efficient data management, enhancing communication networks, and supporting organizational processes across various industries. Successful IT projects require meticulous planning, seamless integration, and ongoing maintenance to ensure optimal functionality and alignment with organizational objectives. Although humans have been storing, retrieving, manipulating, and communicating information since
1166-450: A more efficient manner are usually seen as "just the cost of doing business." IT departments are allocated funds by senior leadership and must attempt to achieve the desired deliverables while staying within that budget. Government and the private sector might have different funding mechanisms, but the principles are more-or-less the same. This is an often overlooked reason for the rapid interest in automation and Artificial Intelligence , but
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#17328590989091272-468: A particular letter; possible delays in message delivery (up to several days); limits on the size of one message and on the total size of messages in the mailbox (personal for users). A software and hardware complex with a web interface that provides the ability to search for information on the Internet. A search engine usually means a site that hosts the interface (front-end) of the system. The software part of
1378-482: A result of the high technology sector, the San Jose-Sunnyvale-Santa Clara, CA Metropolitan Statistical Area has the most millionaires and the most billionaires in the United States per capita, although the venture capital ecosystem has grown more geographically decentralized over time. The region is the biggest high-tech manufacturing center in the United States. The unemployment rate of the region
1484-405: A search engine is a search engine (search engine) — a set of programs that provides the functionality of a search engine and is usually a trade secret of the search engine developer company. Most search engines look for information on World Wide Web sites, but there are also systems that can look for files on FTP servers, items in online stores, and information on Usenet newsgroups. Improving search
1590-570: A single-person household was $ 14,891. Thousands of high technology companies are headquartered in Silicon Valley. Among those, the following are in the Fortune 1000 : Additional notable companies headquartered in Silicon Valley (some of which are defunct, subsumed, or relocated) include: Silicon Valley has a population of 3.1 million as of 2020. A 1999 study by AnnaLee Saxenian for the Public Policy Institute of California reported that
1696-582: A table while a deal was being discussed?" Silicon Valley firms' board of directors are composed of 15.7% women compared with 20.9% in the S&;P 100. The 2012 lawsuit Pao v. Kleiner Perkins was filed in San Francisco County Superior Court by executive Ellen Pao for gender discrimination against her employer, Kleiner Perkins . The case went to trial in February 2015. On March 27, 2015,
1802-459: A technology now obsolete. Electronic data storage, which is used in modern computers, dates from World War II, when a form of delay-line memory was developed to remove the clutter from radar signals, the first practical application of which was the mercury delay line. The first random-access digital storage device was the Williams tube , which was based on a standard cathode ray tube . However,
1908-462: A third of Silicon Valley scientists and engineers were immigrants and that nearly a quarter of Silicon Valley's high-technology firms since 1980 were run by Chinese (17 percent) or Indian descent CEOs (7 percent). There is a stratum of well-compensated technical employees and managers, including tens of thousands of "single-digit millionaires". This income and range of assets will support a middle-class lifestyle in Silicon Valley. In November 2006,
2014-835: Is a region in Northern California that is a global center for high technology and innovation . Located in the southern part of the San Francisco Bay Area , it corresponds roughly to the geographical area of the Santa Clara Valley . The term "Silicon Valley" refers to the area in which high-tech business has proliferated in Northern California, and it also serves as a general metonym for California's high-tech business sector. The cities of Sunnyvale , Mountain View , Palo Alto and Menlo Park are frequently cited as
2120-465: Is a set of related fields that encompass computer systems, software , programming languages , and data and information processing, and storage. IT forms part of information and communications technology (ICT). An information technology system ( IT system ) is generally an information system , a communications system , or, more specifically speaking, a computer system — including all hardware , software , and peripheral equipment — operated by
2226-487: Is a term somewhat loosely applied to a variety of IT-related services offered by commercial companies, as well as data brokers . The field of information ethics was established by mathematician Norbert Wiener in the 1940s. Some of the ethical issues associated with the use of information technology include: Research suggests that IT projects in business and public administration can easily become significant in scale. Work conducted by McKinsey in collaboration with
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#17328590989092332-608: Is also represented in the number of new companies founded by women as well as the number of women-lead startups that receive venture capital funding. Wadhwa said he believes that a contributing factor is a lack of parental encouragement to study science and engineering. He also cited a lack of women role models and noted that most famous tech leaders—like Bill Gates , Steve Jobs , and Mark Zuckerberg —are men. As of October 2014, some high-profile Silicon Valley firms were working actively to prepare and recruit women. Bloomberg reported that Apple, Facebook, Google, and Microsoft attended
2438-433: Is also worth noting that from a business perspective, Information technology departments are a " cost center " the majority of the time. A cost center is a department or staff which incurs expenses, or "costs", within a company rather than generating profits or revenue streams. Modern businesses rely heavily on technology for their day-to-day operations, so the expenses delegated to cover technology that facilitates business in
2544-552: Is commonly held in relational databases to take advantage of their "robust implementation verified by years of both theoretical and practical effort." As an evolution of the Standard Generalized Markup Language (SGML), XML's text-based structure offers the advantage of being both machine- and human-readable . Data transmission has three aspects: transmission, propagation, and reception. It can be broadly categorized as broadcasting , in which information
2650-502: Is one of the priorities of the modern Internet (see the Deep Web article about the main problems in the work of search engines). Companies in the information technology field are often discussed as a group as the "tech sector" or the "tech industry." These titles can be misleading at times and should not be mistaken for "tech companies;" which are generally large scale, for-profit corporations that sell consumer technology and software. It
2756-424: Is still widely deployed more than 50 years later. IMS stores data hierarchically , but in the 1970s Ted Codd proposed an alternative relational storage model based on set theory and predicate logic and the familiar concepts of tables, rows, and columns. In 1981, the first commercially available relational database management system (RDBMS) was released by Oracle . All DMS consist of components, they allow
2862-417: Is transmitted unidirectionally downstream, or telecommunications , with bidirectional upstream and downstream channels. XML has been increasingly employed as a means of data interchange since the early 2000s, particularly for machine-oriented interactions such as those involved in web-oriented protocols such as SOAP , describing "data-in-transit rather than... data-at-rest". Hilbert and Lopez identify
2968-491: The Brookings Institution . As of June 2021, it also had the highest percentage of homes valued at $ 1 million or more in the United States. Silicon Valley is home to many of the world's largest high-tech corporations , including the headquarters of more than 30 businesses in the Fortune 1000 , and thousands of startup companies . Silicon Valley also accounts for one-third of all of the venture capital investment in
3074-658: The Intel 8080 , the second 8-bit microprocessor designed and manufactured by Intel . On April 23, 1963, J. C. R. Licklider , the first director of the Information Processing Techniques Office (IPTO) at The Pentagon 's ARPA issued an office memorandum addressed to Members and Affiliates of the Intergalactic Computer Network . It rescheduled a meeting in Palo Alto regarding his vision of
3180-449: The Internet , which was equivalent to 51 million households. Along with the Internet, new types of technology were also being introduced across the globe, which has improved efficiency and made things easier across the globe. Along with technology revolutionizing society, millions of processes could be done in seconds. Innovations in communication were also crucial as people began to rely on
3286-564: The MITS Altair microcomputer, the first unit sent to the area for review by People's Computer Company . Steve Wozniak and Steve Jobs credit that first meeting with inspiring them to design the original Apple I and (successor) Apple II computers. As a result, the first preview of the Apple I was given at the Homebrew Computer Club. Subsequent meetings were held at an auditorium at
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3392-539: The Shockley diode ), but the design was considerably more difficult to build than the "simple" transistor. In 1957, Shockley decided to end research on the silicon transistor. As a result of Shockley's abusive management style, eight engineers left the company to form Fairchild Semiconductor ; Shockley referred to them as the " traitorous eight ". Two of the original employees of Fairchild Semiconductor, Robert Noyce and Gordon Moore , would go on to found Intel . Following
3498-609: The Stanford Industrial Park (later Stanford Research Park ). Terman invited only high-technology companies. The first tenant was Varian Associates , founded by Stanford alumni in the 1930s to build military-radar components. Terman also found venture capital for civilian-technology start-ups. Hewlett-Packard became one of the major success-stories. Founded in 1939 in Packard's garage by Stanford graduates Bill Hewlett and David Packard , Hewlett-Packard moved its offices into
3604-545: The Stanford Linear Accelerator Center . Although semiconductors are still a major component of the area's economy, Silicon Valley has been most famous in recent years for innovations in software and Internet services. Silicon Valley has significantly influenced computer operating systems, software , and user interfaces. Using money from NASA , the US Air Force , and ARPA , Douglas Engelbart invented
3710-481: The Stanford Research Institute (now SRI International), operated one of the four original nodes that comprised ARPANET , predecessor to the Internet . By the early 1970s, there were many semiconductor companies in the area, computer firms using their devices, and programming and service companies serving both. Industrial space was plentiful and housing was still inexpensive. Growth during this era
3816-744: The University of California, Davis released a report analyzing business leadership by women within the state. The report showed that although 103 of the 400 largest public companies headquartered in California were located in Santa Clara County (the most of all counties), only 8.8% of Silicon Valley companies had women CEOs. This was the lowest percentage in the state. (San Francisco County had 19.2% and Marin County had 18.5%.) Silicon Valley tech leadership positions are occupied almost exclusively by men. This
3922-470: The chemical element used in silicon -based transistors and integrated circuit chips, which is the focus of a large number of computer hardware and software innovators and manufacturers in the region. The popularization of the name is often credited to Don Hoefler , the first journalist to use the term in a news story. His article "Silicon Valley U.S.A." was published in the January 11, 1971, issue of
4028-601: The mouse and hypertext-based collaboration tools in the mid-1960s and 1970s while at Stanford Research Institute (now SRI International), first publicly demonstrated in 1968 in what is now known as The Mother of All Demos . Engelbart's Augmentation Research Center at SRI was also involved in launching the ARPANET (precursor to the Internet ) and starting the Network Information Center (now InterNIC ). Xerox hired some of Engelbart's best researchers beginning in
4134-591: The "preprofit" stage. Prior to 1970, most Northern California lawyers were based in San Francisco, especially the experienced patent attorneys whom the high-tech industry needed to protect its intellectual property. During the 1970s, lawyers began to follow venture capitalists down the Peninsula to serve the booming high-tech industry in Silicon Valley. As of 1999, there were 2,400 lawyers practicing law in Palo Alto,
4240-432: The 16th century, and it was not until 1645 that the first mechanical calculator capable of performing the four basic arithmetical operations was developed. Electronic computers , using either relays or valves , began to appear in the early 1940s. The electromechanical Zuse Z3 , completed in 1941, was the world's first programmable computer, and by modern standards one of the first machines that could be considered
4346-399: The 1959 inventions of the monolithic integrated circuit (IC) chip by Robert Noyce at Fairchild, the first commercial MOS IC was introduced by General Microelectronics in 1964. The first single-chip microprocessor was the Intel 4004 , designed and realized by Federico Faggin along with Ted Hoff , Masatoshi Shima and Stanley Mazor at Intel in 1971. In April 1974, Intel released
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4452-503: The 20 most inventive towns in America were in California, and 10 of those were in Silicon Valley. San Jose led the list with 3,867 utility patents filed in 2005, and number two was Sunnyvale, at 1,881 utility patents. Silicon Valley is also home to a significant number of " Unicorn " ventures, referring to startup companies whose valuation has exceeded $ 1 billion dollars . A world-renowned technology hub, San Francisco Bay Area has
4558-671: The 20th annual Grace Hopper Celebration of Women in Computing conference to actively recruit and potentially hire female engineers and technology experts. The same month, the second annual Platform Summit was held to discuss increasing racial and gender diversity in tech. As of April 2015 experienced women were engaged in creation of venture capital firms which leveraged women's perspectives in funding of startups. After UC Davis published its Study of California Women Business Leaders in November 2006, some San Jose Mercury News readers dismissed
4664-410: The Internet alone while e-commerce a decade later resulted in $ 289 billion in sales. And as computers are rapidly becoming more sophisticated by the day, they are becoming more used as people are becoming more reliant on them during the twenty-first century. Early electronic computers such as Colossus made use of punched tape , a long strip of paper on which data was represented by a series of holes,
4770-512: The Santa Clara Valley, and then north towards the Bay Area's two other major cities, San Francisco and Oakland , the term "Silicon Valley" came to have two definitions: a narrower geographic one, referring to Santa Clara County and southeastern San Mateo County , and a metonymical definition referring to high-tech businesses in the entire Bay Area. The term Silicon Valley is often used as
4876-566: The Stanford Research Park shortly after 1953. In 1954 Stanford originated the Honors Cooperative Program to allow full-time employees of the companies to pursue graduate degrees from the university on a part-time basis. The initial companies signed five-year agreements in which they would pay double the tuition for each student in order to cover the costs. Hewlett-Packard has become the largest personal-computer manufacturer in
4982-642: The U.S. patents for Poulsen arc radio transmission technology and founded the Federal Telegraph Corporation (FTC) in Palo Alto . Over the next decade, the FTC created the world's first global radio communication system, and signed a contract with the Navy in 1912. In 1933, Air Base Sunnyvale , California, was commissioned by the United States Government for use as a Naval Air Station (NAS) to house
5088-508: The United States, which has helped it to become a leading hub and startup ecosystem for high-tech innovation, although the tech ecosystem has recently become more geographically dispersed. It was in Silicon Valley that the silicon-based integrated circuit , the microprocessor , and the microcomputer , among other technologies, were developed. As of 2021 , the region employed about a half million information technology workers. As more high-tech companies were established across San Jose and
5194-507: The United States. A 2023 report found that the aggregate household wealth of Silicon Valley (including ultra-high net worth individuals ) was nearly $ 1.1 trillion, and less than 1% of the Valley's population held 36% of the wealth. Conversely, as of 2021, 23% of Silicon Valley residents were living below the poverty line . However, the meaning of the term "poverty" is dependent upon context; in Silicon Valley, it means something different because of
5300-548: The Valley's mysterious ways, their lawyer often served as their first coach, mentor, teacher, friend, and cheerleader who helped connect them to the Valley's startup ecosystem. As of 2022, the San Jose-Sunnyvale-Santa Clara metropolitan area had the highest average wage for lawyers in the United States, at $ 267,840. The Homebrew Computer Club was an informal group of electronic enthusiasts and technically minded hobbyists who gathered to trade parts, circuits , and information pertaining to DIY construction of computing devices. It
5406-417: The ability to transfer both plain text and formatted, as well as arbitrary files; independence of servers (in the general case, they address each other directly); sufficiently high reliability of message delivery; ease of use by humans and programs. Disadvantages of e-mail: the presence of such a phenomenon as spam (massive advertising and viral mailings); the theoretical impossibility of guaranteed delivery of
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#17328590989095512-623: The airship USS Macon in Hangar One . The station was renamed NAS Moffett Field , and between 1933 and 1947, U.S. Navy blimps were based there. A number of technology firms had set up shop in the area around Moffett Field to serve the Navy. When the Navy gave up its airship ambitions and moved most of its west coast operations to San Diego , the National Advisory Committee for Aeronautics (NACA, forerunner of NASA ) took over portions of Moffett Field for aeronautics research. Many of
5618-516: The appearance of the term in 1990 contained within documents for the International Organization for Standardization (ISO). Innovations in technology have already revolutionized the world by the twenty-first century as people were able to access different online services. This has changed the workforce drastically as thirty percent of U.S. workers were already in careers in this profession. 136.9 million people were personally connected to
5724-567: The application of statistical and mathematical methods to decision-making , and the simulation of higher-order thinking through computer programs. The term is commonly used as a synonym for computers and computer networks , but it also encompasses other information distribution technologies such as television and telephones . Several products or services within an economy are associated with information technology, including computer hardware , software , electronics, semiconductors, internet , telecom equipment , and e-commerce . Based on
5830-424: The area's high-tech firms. Frederick Terman , as Stanford University's dean of the school of engineering from 1946, encouraged faculty and graduates to start their own companies. In 1951 Terman spearheaded the formation of Stanford Industrial Park (now Stanford Research Park , an area surrounding Page Mill Road , south west of El Camino Real and extending beyond Foothill Expressway to Arastradero Road), where
5936-414: The basis for many electronic developments for decades. Both Frederick Terman and William Shockley are often called "the father of Silicon Valley". Unlike many other researchers who used germanium as the semiconductor material, Shockley believed that silicon was the better material for making transistors. Shockley intended to replace the current transistor with a new three-element design (today known as
6042-454: The birthplace of Silicon Valley. San Jose is Silicon Valley's largest city, the third-largest in California , and the 13th-most populous in the United States . Other major Silicon Valley cities include Santa Clara , Redwood City and Cupertino . The San Jose Metropolitan Area has the third-highest GDP per capita in the world (after Zürich , Switzerland and Oslo , Norway ), according to
6148-467: The chemicals used in the manufacture of integrated circuits . Technical, engineering, design, and administrative staffs were in large part well compensated. Silicon Valley has a severe housing shortage , caused by the market imbalance between jobs created and housing units built: from 2010 to 2015, many more jobs have been created than housing units built. (400,000 jobs, 60,000 housing units) This shortage has driven home prices extremely high, far out of
6254-464: The computer to communicate through telephone lines and cable. The introduction of the email was considered revolutionary as "companies in one part of the world could communicate by e-mail with suppliers and buyers in another part of the world..." Not only personally, computers and technology have also revolutionized the marketing industry, resulting in more buyers of their products. During the year of 2002, Americans exceeded $ 28 billion in goods just over
6360-419: The constant pressure to do more with less is opening the door for automation to take control of at least some minor operations in large companies. Many companies now have IT departments for managing the computers , networks, and other technical areas of their businesses. Companies have also sought to integrate IT with business outcomes and decision-making through a BizOps or business operations department. In
6466-431: The data they store to be accessed simultaneously by many users while maintaining its integrity. All databases are common in one point that the structure of the data they contain is defined and stored separately from the data itself, in a database schema . In recent years, the extensible markup language (XML) has become a popular format for data representation. Although XML data can be stored in normal file systems , it
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#17328590989096572-667: The diversity hire. He described being isolated from his team, and constantly having to prove he could do the job he was hired for. In 2014, tech companies Google , Yahoo! , Facebook , Apple , and others, released corporate transparency reports that offered detailed employee breakdowns. In May, Google said 17% of its tech employees worldwide were women, and, in the U.S., 1% of its tech workers were black and 2% were Hispanic/Latino . June 2014 brought reports from Yahoo! and Facebook. Yahoo! said that 15% of its tech jobs were held by women, 2% of its tech employees were black and 4% Hispanic. Facebook reported that 15% of its tech workforce
6678-494: The earliest writing systems were developed, the term information technology in its modern sense first appeared in a 1958 article published in the Harvard Business Review ; authors Harold J. Leavitt and Thomas L. Whisler commented that "the new technology does not yet have a single established name. We shall call it information technology (IT)." Their definition consists of three categories: techniques for processing,
6784-510: The early 1970s. In turn, in the 1970s and 1980s, Xerox's Palo Alto Research Center (PARC) played a pivotal role in object-oriented programming, graphical user interfaces (GUIs), Ethernet , PostScript , and laser printers . While Xerox marketed equipment using its technologies, for the most part its technologies flourished elsewhere. The diaspora of Xerox inventions led directly to 3Com and Adobe Systems , and indirectly to Cisco , Apple Computer , and Microsoft . Apple's Macintosh GUI
6890-581: The early 1980s, at the time of the introduction of the IBM PC and numerous related hardware and software products to the consumer market. The urbanized area is built upon an alluvial plain within a longitudinal valley formed by roughly parallel earthquake faults. The area between the faults subsided into a graben or dropped valley. Hoefler defined Silicon Valley as the urbanized parts of "the San Francisco Peninsula and Santa Clara Valley". Before
6996-545: The emergence of information and communications technology (ICT). By the year of 1984, according to the National Westminster Bank Quarterly Review , the term information technology had been redefined as "The development of cable television was made possible by the convergence of telecommunications and computing technology (…generally known in Britain as information technology)." We then begin to see
7102-566: The expansive growth of the tech industry, the region had been the largest fruit-producing and packing region in the world up through the 1960s, with 39 fruit canneries. The nickname it had been known as during that period was "the Valley of Heart’s Delight". Silicon Valley was born through the intersection of several contributing factors, including a skilled science research base housed in area universities, plentiful venture capital , permissive government regulation, and steady U.S. Department of Defense spending. Stanford University ’s leadership
7208-404: The exponential pace of technological change (a kind of Moore's law ): machines' application-specific capacity to compute information per capita roughly doubled every 14 months between 1986 and 2007; the per capita capacity of the world's general-purpose computers doubled every 18 months during the same two decades; the global telecommunication capacity per capita doubled every 34 months;
7314-455: The field of data mining — "the process of discovering interesting patterns and knowledge from large amounts of data" — emerged in the late 1980s. The technology and services it provides for sending and receiving electronic messages (called "letters" or "electronic letters") over a distributed (including global) computer network. In terms of the composition of elements and the principle of operation, electronic mail practically repeats
7420-451: The first planar silicon dioxide transistors by Frosch and Derick in 1957, the MOSFET demonstration by a Bell Labs team. the planar process by Jean Hoerni in 1959, and the microprocessor invented by Ted Hoff , Federico Faggin , Masatoshi Shima , and Stanley Mazor at Intel in 1971. These important inventions led to the development of the personal computer (PC) in the 1970s, and
7526-459: The first quarter of 2023. More traditional industries also recognize the potential of high-tech development, and several car manufacturers have opened offices in Silicon Valley to capitalize on its entrepreneurial ecosystem . Manufacture of transistors was for a long time the core industry in Silicon Valley. The workforce was for the most part composed of Asian and Latino immigrants who were paid low wages and worked in hazardous conditions due to
7632-443: The first transistorized computer developed at the University of Manchester and operational by November 1953, consumed only 150 watts in its final version. Several other breakthroughs in semiconductor technology include the integrated circuit (IC) invented by Jack Kilby at Texas Instruments and Robert Noyce at Fairchild Semiconductor in 1959, silicon dioxide surface passivation by Carl Frosch and Lincoln Derick in 1955,
7738-480: The high cost of living to the success of the industries in this region. Although, this rift between high and low salaries is driving many residents out who can no longer afford to live there. In the Bay Area , the number of residents planning to leave within the next several years has had an increase of 35% since 2016, from 34% to 46%. The wealth inequality in Silicon Valley is more pronounced than in any other region of
7844-481: The information stored in it and delay-line memory was volatile in the fact that it had to be continuously refreshed, and thus was lost once power was removed. The earliest form of non-volatile computer storage was the magnetic drum , invented in 1932 and used in the Ferranti Mark 1 , the world's first commercially available general-purpose electronic computer. IBM introduced the first hard disk drive in 1956, as
7950-524: The introduction of computer science-related courses in K-12 education . Ideas of computer science were first mentioned before the 1950s under the Massachusetts Institute of Technology (MIT) and Harvard University , where they had discussed and began thinking of computer circuits and numerical calculations. As time went on, the field of information technology and computer science became more complex and
8056-641: The jury found in favor of Kleiner Perkins on all counts. Nevertheless, the case, which had wide press coverage, resulted in major advances in consciousness of gender discrimination on the part of venture capital and technology firms and their women employees. Two other cases have been filed against Facebook and Twitter. A 2017 study showed that white males made up the majority of higher positions, with 58.7% holding executive positions and 46.5% being managers. The second highest position holders were Asian men, with 16.3% having executive positions and 17.9% being managers. African/Black and Hispanic/Latino people had
8162-543: The knowledge they gained from their previous employer. This gave Silicon Valley an advantage over other American tech hubs such as Massachusetts Route 128 curving around Boston . The San Francisco Bay Area had long been a major site of United States Navy research and technology. In 1909, Charles Herrold started the first radio station in the United States with regularly scheduled programming in San Jose . Later that year, Stanford University graduate Cyril Elwell purchased
8268-408: The largest concentration of high-tech companies in the United States, at 387,000 high-tech jobs, of which Silicon Valley accounts for 225,300 high-tech jobs. Silicon Valley has the highest concentration of high-tech workers of any metropolitan area, with 285.9 out of every 1,000 private-sector workers. Silicon Valley has the highest average high-tech salary in the United States at $ 144,800. Largely
8374-530: The lowest percentages in all categories. Harvard Business Review published an article in 2018 discussing diversity and inclusion and gave statistics on black employees along with advice to future black technicians. LeRon L. Barton, a black man who spent over two decades in Tech, gave an insight on his work experiences. He said he saw no one who looked like him in his profession and said he received many comments that he believed disregarded his skill such as being called
8480-406: The original companies stayed, while new ones moved in. The immediate area was soon filled with aerospace firms, such as Lockheed , which was the area's largest employer from the 1950s into 1980s. Stanford University , its affiliates, and graduates have played a major role in the development of the culture of collaboration among high-tech companies. A powerful sense of regional solidarity shaped
8586-467: The origins of Silicon Valley firms, including via investments from Fairchild 's eight co-founders. The key investors in Kleiner Perkins and Sequoia Capital were from the same group, directly leading to Tech Crunch 2014 estimate of 92 public firms of 130 related listed firms then worth over US$ 2.1 trillion with over 2,000 firms traced back to them. Another important pillar of the Valley's success
8692-646: The outlook of inventors and engineers in California; contrasting markedly from the insular and competitive environment of engineering firms on the East Coast of the United States . From the 1890s, Stanford University's leaders saw its mission as service to the (American) West and shaped the school accordingly. At the same time, the perceived exploitation of the West at the hands of eastern interests fueled booster-like attempts to build self-sufficient local industry. Thus regionalism helped align Stanford's interests with those of
8798-440: The possibility that sexism contributed in making Silicon Valley's leadership gender gap the highest in the state. A January 2015 issue of Newsweek magazine featured an article detailing reports of sexism and misogyny in Silicon Valley. The article's author, Nina Burleigh , asked, "Where were all these offended people when women like Heidi Roizen published accounts of having a venture capitalist stick her hand in his pants under
8904-520: The predecessor to Craigslist began operations. Silicon Valley is generally considered to have been the center of the dot-com bubble , which started in the mid-1990s and collapsed after the NASDAQ stock market began to decline dramatically in April 2000. During the bubble era, real estate prices reached unprecedented levels. For a brief time, Sand Hill Road was home to the most expensive commercial real estate in
9010-549: The range of production workers. As of 2016 a two-bedroom apartment rented for about $ 2,500 while the median home price was about $ 1 million. The Financial Post called Silicon Valley the most expensive U.S. housing region. Homelessness is a problem with housing beyond the reach of middle-income residents; there is little shelter space other than in San Jose which, as of 2015, was making an effort to develop shelters by renovating old hotels. The Economist also attributes
9116-490: The region's severe housing shortage and high housing prices. As of 2023, the low-income poverty threshold set by the California Department of Housing and Community Development for single-person households in the counties of San Francisco, San Mateo, and Marin was $ 104,400, followed by $ 96,000 for the county of Santa Clara. In contrast, the 2023 national low-income poverty threshold set by the U.S. Census Bureau for
9222-503: The storage and processing technologies employed, it is possible to distinguish four distinct phases of IT development: pre-mechanical (3000 BC — 1450 AD), mechanical (1450 — 1840), electromechanical (1840 — 1940), and electronic (1940 to present). Information technology is a branch of computer science , defined as the study of procedures, structures, and the processing of various types of data. As this field continues to evolve globally, its priority and importance have grown, leading to
9328-417: The system of regular (paper) mail, borrowing both terms (mail, letter, envelope, attachment, box, delivery, and others) and characteristic features — ease of use, message transmission delays, sufficient reliability and at the same time no guarantee of delivery. The advantages of e-mail are: easily perceived and remembered by a person addresses of the form user_name@domain_name (for example, somebody@example.com);
9434-826: The tech industry, "This is the next step in the civil rights movement" while T. J. Rodgers has argued against Jackson's assertions. According to a 2019 Lincoln Network survey, 48% of high-tech workers in Silicon Valley identify as Christians , with Roman Catholicism (27%) being its largest branch, followed by Protestantism (19%). The same study found that 16% of high-tech workers identify as nothing in particular, 11% as something else, 8% as Agnostics , and 7% as Atheists . Around 4% of high-tech workers in Silicon Valley identify as Jews or Buddhists , 3% as Hindus , 2% as Muslims and 1% as Satanists . The following Santa Clara County cities are traditionally considered to be in Silicon Valley (in alphabetical order): Information technology Information technology ( IT )
9540-607: The university leased portions of its land to high-tech firms. Terman nurtured companies like Hewlett-Packard , Varian Associates , Eastman Kodak , General Electric , Lockheed Corporation , and other high-tech firms, until what would become Silicon Valley grew up around the Stanford University campus. In 1951, to address the financial demands of Stanford's growth requirements, and to provide local employment-opportunities for graduating students, Frederick Terman proposed leasing Stanford's lands for use as an office park named
9646-493: The weekly trade newspaper Electronic News . In preparation for this report, during a lunch meeting with marketing people who were visiting the area, he heard them use the term. Earlier uses outside journalism exist; for example, a May 1970 advertisement in the Peninsula Times Tribune described a Palo Alto company that "helps production people in Silicon Valley." However, the term did not gain widespread use until
9752-405: The world's storage capacity per capita required roughly 40 months to double (every 3 years); and per capita broadcast information has doubled every 12.3 years. Massive amounts of data are stored worldwide every day, but unless it can be analyzed and presented effectively it essentially resides in what have been called data tombs: "data archives that are seldom visited". To address that issue,
9858-420: The world, and the booming economy resulted in severe traffic congestion . The PayPal Mafia is sometimes credited with inspiring the re-emergence of consumer-focused Internet companies after the dot-com bust of 2001. After the dot-com crash, Silicon Valley continues to maintain its status as one of the top research and development centers in the world. A 2006 The Wall Street Journal story found that 12 of
9964-524: The world, and transformed the home-printing market when it released the first thermal drop-on-demand ink-jet printer in 1984. Other early tenants included Eastman Kodak , General Electric , and Lockheed . In 1956, William Shockley , the co-inventor of the first working transistor (with John Bardeen and Walter Houser Brattain ), moved from New Jersey to Mountain View, California , to start Shockley Semiconductor Laboratory to live closer to his ailing mother in Palo Alto . Shockley's work served as
10070-403: The worldwide capacity to store information on electronic devices grew from less than 3 exabytes in 1986 to 295 exabytes in 2007, doubling roughly every 3 years. Database Management Systems (DMS) emerged in the 1960s to address the problem of storing and retrieving large amounts of data accurately and quickly. An early such system was IBM 's Information Management System (IMS), which
10176-539: Was Silicon Valley Bank (SVB), founded in 1983 by a group of former Bank of America executives. Before its 2023 collapse , SVB specialized in providing banking services to Silicon Valley entrepreneurs and their startup firms. SVB's original primary commercial lending product was a working capital line of credit , secured by a startup's accounts receivable . In contrast to traditional banks, who focused their commercial lending on already-established businesses, SVB specialized in lending money to small startup companies in
10282-481: Was 9.4% in January 2009 and has decreased to a record low of 2.7% as of August 2019. But in April 2020, when unemployment was at its peak, it stood at 13.7% and has since fallen to 5.7% in July 2021. Silicon Valley received 41% of all U.S. venture investment in 2011, and 46% in 2012. During the period from 2019 to 2021, Silicon Valley's share of U.S. venture capital investment dropped to 35.9%, but had surged back to 41% as of
10388-503: Was able to handle the processing of more data. Scholarly articles began to be published from different organizations. Looking at early computing, Alan Turing , J. Presper Eckert , and John Mauchly were considered some of the major pioneers of computer technology in the mid-1900s. Giving them such credit for their developments, most of their efforts were focused on designing the first digital computer. Along with that, topics such as artificial intelligence began to be brought up as Turing
10494-492: Was beginning to question such technology of the time period. Devices have been used to aid computation for thousands of years, probably initially in the form of a tally stick . The Antikythera mechanism , dating from about the beginning of the first century BC, is generally considered the earliest known mechanical analog computer , and the earliest known geared mechanism. Comparable geared devices did not emerge in Europe until
10600-488: Was created to foster startups , giving a boost to entrepreneurs. Northern California was even more welcoming, with a group of venture capitalists actively seeking high-tech business ideas, clustered on Sand Hill Road in Menlo Park and Palo Alto . California 's civil code undermined the usual non-compete clauses that effectively tied employees to their companies in other states, allowing California workers to freely apply
10706-533: Was especially important in the valley's early development. Together these elements formed the basis of its growth and success. The United States was more friendly than other countries to business investment, charging much lower taxes on capital gains since the Revenue Act of 1921 , and featuring particularly loose free market controls over new business. In 1953, the Small Business Administration
10812-679: Was female, and 3% was Hispanic and 1% was black. In August 2014, Apple reported that 80% of its global tech staff was male and that, in the U.S., 54% of its tech jobs were staffed by Caucasians and 23% by Asians. Soon after, USA Today published an article about Silicon Valley's lack of tech-industry diversity, pointing out that it is largely white or Asian, and male. "Blacks and Hispanics are largely absent," it reported, "and women are underrepresented in Silicon Valley—from giant companies to start-ups to venture capital firms." Civil rights activist Jesse Jackson said of improving diversity in
10918-459: Was fueled by the emergence of venture capital on Sand Hill Road , beginning with Kleiner Perkins and Sequoia Capital in 1972; the availability of venture capital exploded after the successful $ 1.3 billion IPO of Apple Computer in December 1980. Since the 1980s, Silicon Valley has been home to the largest concentration of venture capital firms in the world. In 1971, Don Hoefler traced
11024-448: Was largely a result of Steve Jobs ' visit to PARC and the subsequent hiring of key personnel. Cisco's impetus stemmed from the need to route a variety of protocols over Stanford University 's Ethernet campus network . Commercial use of the Internet became practical and grew slowly throughout the early 1990s. In 1995, commercial use of the Internet grew substantially and the initial wave of internet startups, Amazon.com , eBay , and
11130-475: Was started by Gordon French and Fred Moore who met at the Community Computer Center in Menlo Park . They both were interested in maintaining a regular, open forum for people to get together to work on making computers more accessible to everyone. The first meeting was held as of March 1975 at French's garage in Menlo Park , San Mateo County, California ; which was on occasion of the arrival of
11236-461: Was the Manchester Baby , which ran its first program on 21 June 1948. The development of transistors in the late 1940s at Bell Laboratories allowed a new generation of computers to be designed with greatly reduced power consumption. The first commercially available stored-program computer, the Ferranti Mark I , contained 4050 valves and had a power consumption of 25 kilowatts. By comparison,
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