Multinationals plugging in to Silicon Valley Ecosystem
Categories: Silicon Valley
What we are seeing is hundreds of companies that have nothing to do with tech from all over the world piling in there and opening labs and opening permanent offices and we are seeing vertical clusters form. Financial services, Telco, media, retail and there is hundreds of companies that are coming there and they are establishing a permanent presence and they are plugging into this very open eco system. Walmart has 1500 people in Silicon Valley and they are trying to catch Amazon obviously, and that was also a number of acquisitions. Marks and Spencer from the UK has a presence in Silicon Valley also in the retail sector. Axel Springer the giant German media company has a presence, a permanent presence in Silicon Valley. So we find it quite interesting for businesses globally to understand that these companies are pitching up and they are putting an office there to either in an offensive way to figure out what they need to do quickly or in a defensive manner to perhaps try to thwart being disrupted themselves.