Lec 10 - 2/23/06 The Bubble by the Bay How the New Economy...

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2/23/06 The Bubble by the Bay How the New Economy Transformed the San Francisco Region Lecture 10 Ground Zero of the New Economy California surpasses France and Italy as the biggest economy in the world at the time of boom Bay Area is about the size of the Netherlands With California’s Recession, China beat California o Domain of the Internet High concentration of manufacturing Most wiring, most websites, ad most users at the time South Korea recently surpassed it as the most wired country in the world o The New Gold Rush San Francisco metropolitan area has the greatest wealth per capita in the country surpassing New York 44 Bay Area made the Forbes 400 A lot of job growth in the 90s from the big surges of growth New Economy = flexible Labor o Based on the Silicon Valley model o Open Management o No Unions Those on the bottom never really recover there wage from 1990s in 1998 despite the boom o Dot-Com Delusions Commercialization of the Internet Selling stuff online A lot of companies especially in San Francisco start dot-coms o A lot of money flow into these companies Financial Tidal Wave o Surfing Risk Capital Stock Market takes off in 1996 exponentially Venture Capital flood in 83% to Internet activities 27% of all venture capitalists goes to san Francisco
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Lec 10 - 2/23/06 The Bubble by the Bay How the New Economy...

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