Sheltering-in-privilege: Silicon Valley

Abstract

We suggest that one source of understanding entrepreneurial resilience and regional culture is through the denizens of Silicon Valley, and how they are handling crisis situations. We surveyed 119 entrepreneurs, investors, and large company executives based in Silicon Valley during the first COVID-19 lockdown period between April and May 2020. Our data show that the entrepreneurs perceived the situation as severe but were cautiously optimistic. They embraced creative destruction and took it as a way to change the status quo for the better. They predicted the new normal in the industry by acknowledging the critical role of science and technology. The ecosystem seems to enhance entrepreneurial resilience in the region through the social structures and entrepreneurial cultural values.