Boost VC’s MD says Silicon Valley is still a necessity for the crypto people

Adam Draper, the Founder and Managing Director of Boost VC, talked at Yahoo’s All Market Summit in San Francisco today.

When asked if Silicon Valley is still needed with all the murky regulations around it, Adam responded that Silicon Valley is the R&D shop of the world. Everyone looks at Silicon Valley like they would look at Disneyland, and he feels it is crazy how easily he can communicate with people in India or Croatia. These advances have been possible only because of Silicon Valley and the pioneering advances that happened there.

Alexia Bonatsos née Tsotsis, compares Silicon Valley to the type of tree that thrives in a jungle. Basically, the trees’ roots get very densely interconnected and act as support to each other by sending nutrients and water to each other in times of individual need.

In the same way, Silicon Valley works by forming support structures. Talent may sprout everywhere, but the soil for it to grow, the support on which talent may thrive, exists in Silicon Valley, and that is why the crypto world requires Silicon Valley to flourish. A supremely gifted person may come to Silicon Valley to nurture their talent – they will be provided housing and office space, and all of a sudden a home base has come up.

Adam insists that they are not fixated on geography because they have invested in thirty countries around the world. However, they cannot be only about geography, because they are working in the crypto space.

For years now, the Santa Clara Valley has been the place to be for computer engineers, hence the name ‘Silicon’. With the advent of the entire business with cryptocurrencies and blockchain technology, Silicon Valley still means to young talents what Hollywood means to budding stars.

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