Silicon Valley - staying relevant amidst globalization
There’s a very timely article in San Jose Mercury News today on how Silicon Valley is gaining from the technology revoluti0n around the w0rld. HP and CISCO - two Silicon Valley giants today get a majority of their revenues from markets outside of North America. Web 2.0 companies serving markets in Brazil, Turkey and Asia are headquartered or have a strong Valley presence. Even Nokia - once a great example of innovation outside the Silicon Valley has a sizeable R&D presence here now.
None of that is disputable, however there are some telling remarks from another Silicon Valley legend - Bill Watkins, CEO of Seagate in another article in the same newspaper today, “
The immigration bill is very frustrating. Sixty percent of the Ph.D.’s last year were foreign-born. Not one got a green card. We trained them, then we outsourced them. Every person who gets a Ph.D. in the U.S. should get a green card. I’ve got to hire those people. If I can’t hire them here, we’ll start moving the infrastructure of R&D offshore. I have R&D in Singapore now. I can get MIT graduates there - and I get subsidies for it.