It's important to keep in mind when analyzing this issue; SV is not "an industry." There are many companies there across a variety of industries, many of which

It's important to keep in mind when analyzing this issue; SV is not "an industry." There are many companies there across a variety of industries, many of which are tech related. But as much as the media would have us believe otherwise "tech" is not one actual industry. It's a poorly defined category of industries. My point being, SV companies are so diverse across their actual industries it's probably best to compare them as a region against companies in other major regions.