The Insularity of Silicon Valley

Earlier this week, the Commerce Department announced US GDP in Q1 2014 fell by 3%, the most in a quarter since the recession. I’ve linked to the WSJ’s chart depicting the trend above. The decline was 3x greater than forecasted. Silicon Valley seems unfazed. As I wrote about earlier this year, we’ve seen a decline in the public markets of about 25% in consumer stocks and 45% in enterprise stocks. But since that time, public tech companies have witnessed a small recovery.

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