Silicon Valley is like an HBD success story, a region that through the free market and meritocracy rewards the best and the brightest for their contributions to society. People in Silicon Valley get rich through IQ, skill, hard work and competence – not nepotism, quotas, and favoritism. For example, coders strait out of college or even high school are earning high six-figures in the Silicon Valley at some of the hottest web 2.0 firms. It’s thus no surprise that the left, who pride diversity and equal outcomes over competence and opportunity, is critical of Silicon Valley and the meritocratic tech culture. Although having VC connections can help get a start-up off the ground, having a good idea that is viral is much more important. As I’ve said before, anyone with a good idea and some coding can become a millionaire very quickly and possibly even a billionaire in 2-5 years. First you code the app, the app goes viral, you get some series-A funding and add new features and bring new people to the team, and within a couple years you close a large round valuing your ownership of the company at over $500 million dollars. Never before in the history of capitalism has such quick wealth been possible – it’s literally ‘get rich quick’, but it’s not a scam. In the past, it would take decades to build a multi-billion dollar company, but the network effect of apps, mobile devices and the internet accelerate the process, in accordance with Metcalfe’s Law that states that the value of a network grows not linearly with the number of nodes, but quadratically.
Related: Wealth Creation Orgy