Venture capital firms

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. The growth was fueled by the emergence of the venture capital industry on Sand Hill Road, beginning with Kleiner Perkins in 1972; the availability of venture capital exploded after the successful $1.3 billion IPO of Apple Computer in December 1980.

Internet bubble

Silicon Valley is generally considered to have been the center of the dot-com bubble which started from the mid-1990s and collapsed after the NASDAQ stock market began to decline dramatically in April 2000. During the bubble era, real estate prices reached unprecedented levels. For a brief time, Sand Hill Road was home to the most expensive commercial real estate in the world, and the booming economy resulted in severe traffic congestion.

Even after the dot-com crash, Silicon Valley continues to maintain its status as one of the top research and development centers in the world. A 2006 Wall Street Journal story found that 13 of the 20 most inventive towns in America were in California, and 10 of those were in Silicon Valley. San Jose led the list with 3,867 utility patents filed in 2005, and number two was Sunnyvale, at 1,881 utility patents.

Economy

According to a 2008- study by AeA in 2006 Silicon Valley was the third largest (cybercity) high-tech center in the United States, behind the New York metropolitan area and Washington metropolitan area, with 225,300 high-tech jobs. The Bay Area as a whole however, of which Silicon Valley is a part, would rank first with 386,000 high-tech jobs. Silicon Valley has the highest concentration of high-tech workers of any metropolitan area, with 285.9 out of every 1,000 private-sector workers. Silicon Valley has the highest average high-tech salary at $144,800.

The region is the biggest high-tech manufacturing center in the United States. The unemployment rate of the region was 9.4% in January 2009, up from 7.8% in the previous month.

Vocabulary

leading hub – ведущий центр

was coined – был придуман

bolster v - поддерживать

vibrant adj – динамичный

affiliates n – филиалы

align v – выровнять

provost n – ректор

blimps n – дирижабли

tenant n – арендатор

alumni n – выпускники

quirks n – причуды

impetus n – импульс, побуждение

Text 7 apple inc.

Apple Inc. (previously Apple Computer, Inc.) is an American multinational corporation that designs and markets consumer electronics, computer software, and personal computers. The company's best-known hardware products include the Macintosh computers, the iPod, the iPhone and the iPad. Apple software includes the Mac OS X operating system; the iTunes media browser; the iLife suite of multimedia and creativity software; the iWork suite of productivity software; Aperture, a professional photography package; Final Cut Studio, a suite of professional audio and film-industry software products; and Logic Studio, a suite of music production tools. As of January 2010, the company operates 284 retail stores in ten countries, and an online store where hardware and software products are sold. Established on April 1, 1976 in Cupertino, California, and incorporated January 3, 1977, the company was previously named Apple Computer, Inc. for its first 30 years, but removed the word "Computer" on January 9, 2007, to reflect the company's ongoing expansion into the consumer electronics market in addition to its traditional focus on personal computers. As of September 26, 2009, Apple had 34,300 full time employees and 2,500 temporary full time employees worldwide and had worldwide annual sales of $42.91 billion in its fiscal year ending September 26, 2009. For reasons as various as its philosophy of comprehensive aesthetic design to its distinctive advertising campaigns, Apple has established a unique reputation in the consumer electronics industry. This includes a customer base that is devoted to the company and its brand, particularly in the United States. Fortune magazine named Apple the most admired company in the United States in 2008, and in the world in 2008, 2009, and 2010. In May 2010, Apple's market cap exceeded that of Microsoft for the first time since 1989.