From the Wikipedia article on Silicon Valley "It was in Silicon Valley that the integrated circuit, the microprocessor, the microcomputer, among other key techn

From the Wikipedia article on Silicon Valley "It was in Silicon Valley that the integrated circuit, the microprocessor, the microcomputer, among other key technologies, were developed, and has been the site of electronic innovation for over four decades" These were all truly innovative ideas, and they made enough money to give Silicon Valley it's name. The problem with truly innovative ideas is not that they are impossible to make money with. The problem is that it's a homerun business where a few succeed and most fail. VC's have known this for ages, which is why they invest in innovation.