Group members: Richard, Chao, and Tamara
The article focuses on two economic aspects which Unicorns and Blackswans of Silicon Valley has revolutionized, especially in the way they market their products. Firstly, Silicon Valley companies have found ways to innovate their value proposition, by focusing on creating value out of their brand, rather than their products or services. For example, a common example is Apple’s iPhone, which exemplifies the company’s ability to use their strong brand presence to market their flagship product. Secondly, as a result of their unique value propositions, Silicon Valley companies can offer unique pricing models, which tend to be upscaled compared to smaller competitors. These companies are constantly looking for ways to innovate their pricing model, whether it be through subscriptions, usage-based pricings or any other ways to help companies improve customer retention. Both of these influences on the economy will reshape the way companies approach value creation and pricing models, ultimately affecting the consumer.
Article 2: There Is a Supply of Diverse Workers in Tech, So Why Is Silicon Valley So Lacking in Diversity? by Maya Beasley
Mostly white men dominate within Silicon Valley, especially in the technological sector. However cultural dominance has changed overtime. We are witnessing a significant demographic shift. It is predicted by 2043 there will be no clear racial majority. The tech sector is investing in racial and gender diversity within their work force. There are increase minorities becoming more qualified to work for tech companies, however dominant ideologies that were present in the formation of Silicon Valley seem to still be present. Commitment to change these institutional structures are required to ensure all qualified workers are able to be recruited. As essentially, diversity leads to better pro