Silicon Valley heads out of recession
The news coming out of Silicon Valley right now is positive it would seem, as a new crop of start-ups appear while the bigger players return to their big-money aquisitions.
With the chairman of the US Federal Reserve, Ben Bernanke, claiming that the recession in the USA is more or less over and that the country is heading for recovery, the news that this is being reflected in one of its major money-making centres is buoying hopes that this is, in fact, true.
Adobe recently splashed out $1.8 billion on a web analytics firm, Skype was recently sold for $2 billion to a private investment company and the number of small-fry web start-ups has risen greatly, with more and more getting the funding they need to progress from ideas to fully-fledged businesses.
Indeed, the TechCrunch 50 conference in San Francisco seems to be alive with optimism this year as all the big players (Google and Microsoft in particular) have new products and services they intend to roll out in the near future, with dozens of smaller ventures showing off their visions for the ever more interconnected world we live in.
In particular, one of the biggest areas seeing growth right now is the social media arena. Now no longer limited to organising activities and communication with friends (i.e. Facebook), more and more truly society-driven schemes are coming to the fore, intending to reshape the way we do business and live our lives. The sturdy sales of devices like Apple’s iPhone and Google Android-powered smartphones to general consumers are certainly helping this area of the marketplace.
However, unemployment is still higher than a few years ago and certain companies are still hesitant to go back to their old ways of doing things. Much of the extravagance of previous conferences, company launches and product launches has been set aside, probably for the better. Whether this recovery in the tech capital of the world continues at a decent rate is anyone’s guess, but as a crucial cornerstone of the world-wide economy, the signs are good.
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Tags:recession, recovery, silicon valley, techcrunch