Silicon Valley's slow takeover of Wall Street accelerating? (for sale, 2014)

[18Montclair]

This is a trend I've been following for about 10 years now. In their quest to be dynamic and develop the next big thing on every front and in every industry, techies on their hellbent mission to empower individuals from established power have already reaked havoc in media, entertainment, retail and telecommunications to a point where those industries are no longer the same and have been permanently altered.

Now, the Valley is rising(quite fast) as a force in the automotive industry with every major automaker in the world located somewhere in the Bay Area researching their future in conjunction with local engineers and developers. Google's driverless technology and Tesla are proving that local products are not only setting the standard, but also setting the trends for the entire sector.

Now, geekdom appears to have it's sights on taking down the goliath of global finance: Wall Street.

Silicon Valley’s war on Wall Street is only just beginning – Quartz

Silicon Valley is the new Wall Street | UTSanDiego.com Mobile

Young Wall Street heads to Silicon Valley | Marketplace.org

Wall Street Exodus: Young Bankers Growing More Disenchanted, Flocking To Silicon Valley, According To New Book

Icahn vs. Andreessen: a new front in the war between Wall Street and Silicon Valley – Quartz

Despite recent stories about local gentrification, the Valley is definitely winning the PR fight vs Wall Street.

http://nytimes.com/blogs/dealbook/20...0.BthylrlBYus&


Why Does America Hate Wall Street but Love Silicon Valley? (BAC, C, JPM)

The growing intensity in reporting 'the dark side' of SV and how it pertains to Wall Street by East Coast media outlets really illustrates(even if subconciously on their part) they sense a threat of some kind. At least that's my take after watching news articles grow less amicable over the past year or so. Suddenly techies are painted as heartless bad guys. Joel Kotkin likened tech billionaires to 'robber barons', the Washington Post recently put out a story basically scolding us for being 'out of touch' and so forth.

But I digress.

[West Coast Republican]

Silicone Valley is just a big technology center, Wall Street is a banking and financial center. Two very different types of industries.

[MichiVegas]

I'm still trying to understand the point of this thread, as Silicon Valley and Wall Street are two totally different industries.

And then half the post talks about the auto industry, a third, totally different industry.

[ashpelham]

I get what the OP is saying.

What happened in the 90's is the brain drain from space and engineering research went to Wall Street to develop complex financial instruments, some of which nearly crashed America into the Bay back in 2007-2009. Now, what Wall Street is attempting to do is fine tune the racket it blew the economy up with back in 2000-2001, with the .com bubble. Same ideas, different twists, different players.

Welcome to the bubble economy in America: the ONLY way capitalism can continue along.

[18Montclair]

Originally Posted by ashpelham

I get what the OP is saying.

Yeah its not complicated at all. Im not even going to dignify fake 'I dont get it' replies with a response.

What I will say is this. Any industry that integrates technology into how its run has been or is being revolutionized and colonized by Silicon Valley.

The point of this thread is that there was no media interest in SV taking the spotlight in other industries such as is the case with Wall Street.

Suddenly it's a 'war'. LOL

In fact, the advent of the internet has really made stock exchange trading floors obsolete already.

[MikeNigh]

How can silicon valley take over wall street when wall street owns all of silicon valley's companies? Also I don't expect wall street ever leaving an urban setting. I'd say the valley needs to watch out for nyc taking over the tech scene more than nyc needs to look out for the valley taking over wall street.

But ya wall street is becoming more of just a piece of software sitting on a server somewhere.

[18Montclair]

Originally Posted by MikeNigh

How can silicon valley take over wall street when wall street owns all of silicon valley's companies? Also I don't expect wall street ever leaving an urban setting. I'd say the valley needs to watch out for nyc taking over the tech scene more than nyc needs to look out for the valley taking over wall street.

Haha Wall Street doesnt own Silicon Valley companies, and thats because the Valley is able to fund start ups on its own being the number 1 venture capital hub in the world-- and New York as a hub of innovation is an afterthought compared to the Valley which produces more patents than NY, LA and Boston combined. The recent hype by Bloomberg on NYCs tech ascension vs. Silicon Valley is just that-hype.

But ya wall street is becoming more of just a piece of software sitting on a server somewhere.

Well, thats another aspect of what Im saying. Wall Street like other industries, is becoming destabilized as the defacto epicenter of its industry due to various factors, Silicon Valley being one major factor.

[branh0913]

There are a lot of Web 2.0 companies with useless product in SV. So keep in mind a lot of companies that are making money bow won't be around in the foreseeable future. I can almost guarantee Facebook and Twitter will become much smaller or be out of business in the next 5 years.

[HappyinCali]

LOL. Who said history doesn't repeat itself. From a memo written in 1999.

http://www.oaktreecapital.com/MemoTr...2%20bubble.pdf

Altered lives -- During the South Sea bubble, as described above, boats were put up
for sale and people with capital shifted from being workers to being investors. In a
striking parallel, the Internet-commerce revolution is also changing lives. Of course,
we know that thousands of Americans have become on-line traders either full- or
part-time. Articles describe people who are trying to "ride the trend" of hot stocks
and benefit from their momentum, but there's little indication that they have any idea
what makes companies do well or stocks go up (or even what some of their
companies do). The Wall Street Journal of December 7 cited an individual who has
spent his full time in the prior five months trading the stock of one company, CMGI,
which invests in Internet ventures; he doesn't know the CEO's name.

Also striking is the effect this is having on business education and young careers. A
front-page article in the New York Times of November 28 reported that applications
at many business schools were flat or down, the number of Americans taking the
GMAT exam was down sharply, and not-insignificant numbers of MBA students
were dropping out after the first year to join the hot fields. As a professor of
entrepreneurship told me, all of the e-commerce claims will be staked out in the next
year or two; students can't risk staying in school and seeing someone else act on their
ideas. Five years ago, the hot area for new MBAs was investment banking. Now, I
hear, investment banks can't get the top students to sign up for interviews and are
having trouble meeting their recruiting goals

Venture capitalists and technologists, in turn, are moving to Internet firms. As a sign
that it's even becoming hard for more mature technology firms to hold onto people,
the CFO of Microsoft recently quit to join a fiber-optic company. Remember,
Microsoft has already been public 17 years; the gold-rush is over at the established
firms, and the overnight fortunes have been made. Even investment bankers are in
transit; on December 14, a New York Times article on the subject was headlined
“Wall St. Is Flush With Cash But Also Green With Envy.”

[ExeterMedia]

Originally Posted by HappyinCali

LOL. Who said history doesn't repeat itself. From a memo written in 1999.

http://www.oaktreecapital.com/MemoTr...2%20bubble.pdf

What if, one day or one night, a demon slinked after you into your loneliest loneliness, and said to you: "This life, as you live it now, and as you have lived it, you will have to live once more and countless times more. And there will be nothing new about it, but every pain and every pleasure, and every thought and sigh, and every thing unspeakably small and great in your life must come back to you, and all in the same series and sequence - and likewise this spider, and this moonlight between the trees, and likewise this moment and I myself. The eternal hourglass of existence is turned over again and again and you with it you mote of dust.

This is a world where nothing is solved. Time is a flat circle. Everything we've ever done or will do we're gonna do over and over and over again.