Silicon Valley
History (post-1970)
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 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.
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