The dot-com collapse may have been a disaster for Wall Street, but here in Silicon Valley, it was a blessing. It was the welcome end to an abnormal condition that very nearly destroyed the area in an overabundance of success. You see, the secret to the Valley’s astounding multiple-decade boom is failure. Failure is what fuels and renews this place. Failure is the foundation for innovation.
The valley’s business ecology depends on failure the same way the tree-covered hills around us depend on fire--it wipes out the old growth and creates space for new life. The valley has always been in danger of drowning in the unwelcome waste products of success--too many people, too expensive houses, too much traffic, too little office space and too much money chasing too few startups. Failure is the safety valve, the destructive renewing force that frees up people, ideas and capital and recombines them, creating new revolutions.
Consider how the Internet revolution
A. The Silicon Valley blamed its failure on the success of Wall Street.
B. The Silicon Valley is also noted for its complex ecological web.
C. The Silicon Valley takes a vain pride in its overabundant successes.
D. The Silicon Valley would benefit from the collapse in certain ways.
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