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...Francisco Correspondent Michael Moritz, who reported on the explosion of electronics-based firms in California's "Silicon Valley," asked to transfer from TIME'S Los Angeles bureau six months ago, because he felt that the center of the state's NANCY KESSLER economic action had moved north. "Silicon Valley is a nursery of creativity," he says. "Every week people are proving that individuals are still able to make a substantial difference and to move the world." Moritz, a native of Wales who read history at Christ Church, Oxford, and earned an M.B. A. at the University...

Author: /time Magazine | Title: A Letter From The Publisher: Feb. 15, 1982 | 2/15/1982 | See Source »

...most explosive area for growth companies today is south of San Francisco Bay in a 250-sq.-mi. area in Santa Clara County, where orchards of apricots, prunes and cherries were once a main source of income. Tiny semiconductors made with chips of silicon that were first manufactured there at the end of the '60s gave the region its nickname-"Silicon Valley." Growing up alongside the semiconductor companies in such towns as Sunnyvale, Los Altos and Cupertino are a host of new, high-tech industries. Says Michael Shields, a catalogue marketer in Palo Alto: "Living here is like riding...

Author: /time Magazine | Title: Striking It Rich: A new breed of risk takers is betting on the high-technology future | 2/15/1982 | See Source »

...adventurous businessmen of Silicon Valley also created a style of management that is likely to have a strong impact on business in other parts of the U.S. Executives in the valley face a few acute problems because of their highly competitive environment: keeping workers satisfied in order to reduce job hopping, arid maintaining the small-company entrepreneurial spirit as firms grow larger. Experienced technicians are in short supply and can easily win large salary increases and hefty bonuses by changing employers. Executives are also fearful that as their firms expand, they will lose the ability to respond quickly to changing...

Author: /time Magazine | Title: Striking It Rich: A new breed of risk takers is betting on the high-technology future | 2/15/1982 | See Source »

...miles away from Monolithic, 10,000 memory devices for microcomputers, worth $1 million, were stolen by an employee. Those chips found their way to underground distributors in West Germany, who sold them to the unsuspecting West German manufacturer Siemens. Authorities say that other equipment stolen from the Silicon Valley has wound up in Eastern Europe and the Soviet Union. Laments John O'Loughlin, manager of security for Intel: "Tracing the products is difficult. Markings can be erased and counterfeit identification can be stamped on them...

Author: /time Magazine | Title: Valley of Thefts | 12/14/1981 | See Source »

...Silicon Valley prides itself on its laid-back, open atmosphere modeled after college campuses. But that is changing. A group of companies has formed the Industrial Security Managers Group and is putting pressure on law-enforcement agencies to pursue these crimes. The FBI, Commerce Department, local police and sheriffs department are now involved in major chip-theft cases. A new private investigation firm in Palo Alto is also specializing in these high-technology crimes. Those groups hope that together they can write the final chapter in Goodbye Mr. Chips...

Author: /time Magazine | Title: Valley of Thefts | 12/14/1981 | See Source »

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