The first thing that struck me after my recent move to Bangalore was the proliferation of startups. The tech entrepreneurs and startups continue to receive a lot of media attention: Business sections of newspapers devote considerable bandwidth to feature startups, especially those focused on digital technologies. While many startups benefit from the much-needed media spotlight, a few like Flipkart and Ola also find themselves at the receiving end. (Ref “Why Do We Love To Hate Flipkart“)
Years ago, I visited an old western mining town, couple of hour’s drive from Silicon Valley that had been the epicenter of the California Gold Rush. The tour guide regaled us with stories of the gold rush, and the wild west. Wikipedia:
While most of the newly arrived were Americans, the Gold Rush attracted tens of thousands from Latin America, Europe, Australia, and China. At first, the prospectors retrieved the gold from streams and riverbeds using simple techniques, such as panning. More sophisticated methods of gold recovery were developed and later adopted around the world. At its peak, technological advances reached a point where significant financing was required, increasing the proportion of gold companies to individual miners. Gold worth tens of billions of today’s dollars was recovered, which led to great wealth for a few. However, many returned home with little more than they had started with ……
The effects of the Gold Rush were substantial. San Francisco grew from a small settlement of about 200 residents in 1846 to a boomtown of about 36,000 by 1852. Roads, churches, schools and other towns were built throughout California.
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