no, this is not true. The reality of Silicon Valley since the mid-1970s is an explosive and unpredictable mix of institutional money, their cohorts and practice

no, this is not true. The reality of Silicon Valley since the mid-1970s is an explosive and unpredictable mix of institutional money, their cohorts and practices; defense industry, their cohorts and money (these fit your hypothesis somewhat); dramatic and overlapping physical inventions using silicon parts, the people that build and promote those, their investor and insiders; marketing success more like Hollywood of old, their cohorts and practices; non-USA money and investment systems, their cohorts and practices; international Fortune 500, their cohorts and practices.. and more I am leaving out..