Boundless as cyberspace may be, the companies that rule the internet still have to take up real estate. And their employees still have to put their heads down somewhere at night. For whatever reason, the mysterious forces of the "innovation economy" have lured an outside share of those companies, and their employees, to Silicon Valley.
With all those likes, stock options, and organic cafeteria items comes, of course, a housing crisis. As absolutely no one is unaware, rents in Silicon Valley have gone up like Pets.com stock over the past few years.
Last week Facebook announced that it was going to make an investment in the crisis. Not an investment in housing, mind you. Just an investment in the crisis. >>read more
It's hardly an exaggeration to say that every business today wants to be innovative. Entrepreneurs are motivated by the likes of Apple, Google, Twitter and many others are based in California cities. This is no accident. In his recent book The New Geography of Jobs, Enrico Moretti, professor of economics at the University of California, Berkeley, explains how cities promote innovation (defined not just as technology, but also as medicine, media, manufacturing and other sections that rely on constant improvement of products and services) and, importantly, how innovation affects cities' economies. As it turns out, the cities of Moretti's adopted home state have some of the biggest beneficiaries of the innovation economyï¿½and some that have been left behind.
Morretti spoke with CP&DR Contributing Editor Josh Stephens about how California became innovative and how it can stay that way. >>read more
Google may have revolutionized our understanding of geography, but so far the world's leading internet company hasn't revolutionized the geography of commuting. So as Google contemplates its first major "campus," the City of Mountain View is looking to innovation – the coin of the realm in the Silicon Valley – to help Googlites get to work. Even if it means building a rail system that transports individual commuters around town in little capsules.