Silicon Glen

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description: high tech sector of Scotland

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pages: 387 words: 119,244

Making It Happen: Fred Goodwin, RBS and the Men Who Blew Up the British Economy
by Iain Martin
Published 11 Sep 2013

He was an engineer who became convinced that from the ruins of post-industrial Scotland in the late 1970s and 1980s could emerge a bank under his leadership that would lead a national reinvention. From the late 1980s he gathered together bright young managers, friends from the government economic development agency he had run and executives from Scotland’s computer industry, ‘Silicon Glen’. With them he set about remaking the Royal Bank of Scotland. Mathewson’s new notion echoed an old idea. The reputation of the Scots as uniquely canny bankers stretched back three centuries, to when a Scot, William Paterson, had helped found the Bank of England in 1694 to lend the money the English government needed to wage continental war.

In 1981 Mathewson was recruited to head the Scottish Development Agency, the taxpayer-funded quango originally established in 1975 by a Labour government. It was supposed to solve the riddle of what Scotland would do once it didn’t make so many ships or extract so much coal from the ground. The answer appeared to be that it would extract oil instead, make computers (in the emerging industry known as ‘Silicon Glen’) and possibly expand financial services. Mathewson’s mantra as boss of the SDA was that he would make any public sector money available go as far as possible, whether it was in trying to kickstart the attempts at regenerating Glasgow or persuading foreign businesses to invest in Scotland. He also wanted to use his muscle and expanding network of connections to save grand old companies if they were worth saving.

Morgan, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9, ref 10, ref 11, ref 12, ref 13, ref 14 Bear Stearns bought by, ref 1 Jacobite rebellion, ref 1, ref 2 James VI/I, ref 1 Jardine Matheson, ref 1, ref 2 Jevons, William, ref 1 Jin, Bruce, ref 1, ref 2, ref 3, ref 4 Kay, John, ref 1 King, Mervyn, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9, ref 10 on bailouts, ref 1 becomes BoE governor, ref 1, ref 2 RBS bailout preference of, ref 1 Kingman, John, ref 1, ref 2, ref 3, ref 4 Kinnock, Neil, ref 1 Kirwan, Frank, ref 1 Koch, Charles, ref 1, ref 2 Kong, Janis, ref 1, ref 2 KPMG, ref 1, ref 2 Kravis, Henry, ref 1 Kruger, Konrad ‘Chip’, ref 1 Kyle, Chris, ref 1 Labour: 1983 defeat of, ref 1 1987 defeat of, ref 1 1992 defeat of, ref 1 1997 victory of, ref 1, ref 2 2001 victory of, ref 1 2005 victory of, ref 1 bankers honoured by, ref 1, ref 2 Blair gains leadership of, ref 1 and BoE, see Bank of England: and banking supervision Brown ‘boom–bust’ speech to, ref 1 not blameless, ref 1 Scottish, ref 1 and spin-doctoring, ref 1 see also Brown, Gordon LaSalle, ref 1, ref 2, ref 3, ref 4 Law, John, ref 1 Lawson, Lord (Nigel), ref 1, ref 2 Leeson, Nick, ref 1, ref 2 Legal & General, ref 1, ref 2 Lehman Brothers, ref 1, ref 2, ref 3, ref 4 Levine, Howard, ref 1 Levine, Jay, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9 and hedging exposure, ref 1 leaves RBS, ref 1 remuneration of, ref 1, ref 2 Levine, Tammy, ref 1, ref 2 Lewis, Will, ref 1, ref 2 Libor scandal, ref 1, ref 2 Lilley, Peter, ref 1 Linklaters, ref 1 Lippens, Maurice, ref 1, ref 2 Lloyds, ref 1, ref 2, ref 3 Lloyds TSB, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9, ref 10 growing profits of, ref 1 Location, Location, Location, ref 1 Lombard, ref 1, ref 2 London Stock Exchange, ref 1, ref 2 and 1987 crash, ref 1 trading suspended twice by, ref 1 Long-Term Capital Management, ref 1, ref 2 Love, Charles, ref 1 M&G, ref 1 McCain, John, ref 1 McCarthy, Callum, ref 1, ref 2, ref 3, ref 4 McCarthy, Cormac, ref 1 McConnell, Jack, ref 1, ref 2 McDonald, Sheena, ref 1 McGinnis, Bob, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7 MacHale, Joe, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8 McInnes, Bob, ref 1 McKillop, Tom, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9, ref 10, ref 11, ref 12, ref 13, ref 14 and ABN Amro, ref 1, ref 2, ref 3, ref 4, ref 5 apology of, ref 1 bailout terms heard by, ref 1 board views sought by, ref 1 confirmed as RBS chairman, ref 1 and FG possible departure, ref 1 and FG tenure, ref 1 and FSA, ref 1 RBS arrival of, ref 1 RBS chairmanship assumed by, ref 1 and RBS collapse, ref 1, ref 2, ref 3 and RBS losses, ref 1 removal of, from RBS, ref 1 Telegraph story on, ref 1 McKinsey, ref 1, ref 2, ref 3 McLaughlin, Andrew, ref 1 McLean, Miller, ref 1, ref 2, ref 3, ref 4, ref 5 MacLeod, Catherine, ref 1, ref 2 McLuskie, Norman, ref 1, ref 2 McPhail, Cameron, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6 MacPherson, Nick, ref 1, ref 2, ref 3 Major, John, ref 1, ref 2 Masterson, Gavin, ref 1 Matera, Fred, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6 Mathewson, George, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9, ref 10, ref 11, ref 12 passim, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7 and bank HQ, ref 1 becomes deputy group chief executive, ref 1 FG compared with, ref 1 FG wooed by, ref 1 FG moving on denied by, ref 1 FG rows with, ref 1, ref 2 FSA complains to, ref 1 at Gogarburn opening, ref 1 and HSBC secret talks, ref 1 knighthood of, ref 1 large office of, ref 1 losses of, ref 1 and NatWest, ref 1, ref 2, ref 3 portrait of, ref 1 prepares for retirement, ref 1 passim private jet used by, ref 1 RBS arrival of, ref 1 and RBS rights issue, ref 1 as Salmond adviser, ref 1 stands aside, ref 1 and Tosca, ref 1, ref 2 see also Royal Bank of Scotland Maxton, James, ref 1 Medford Bancorp, ref 1 Mellon Financial, ref 1 Mercury Asset Management (MAM), ref 1 Merrill Lynch, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9 banking and insurance conference of, ref 1, ref 2, ref 3 Meyer, Anthony, ref 1 Michael Laird, ref 1 Midland Bank, ref 1 Miliband, Ed, ref 1 Milton, Lord, ref 1 Monaco Grand Prix, ref 1 Money and the Mechanism of Exchange (Jevons), ref 1 Monopolies and Mergers Commission, ref 1 Moody, Howard, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8 Moody, ref 1, ref 2, ref 3 Moore, Paul, ref 1 Morgan Grenfell, ref 1 Morgan Stanley, ref 1 Morrison, Peter, ref 1 Mosson, Mike, ref 1 Motson, John, ref 1 Mozilo, Angelo, ref 1 Murray, Andy, ref 1 Myners, Lord (Paul), ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7 NASDAQ, ref 1 Nathaniel, Peter, ref 1 National Audit Office, ref 1 National Australia Bank, ref 1, ref 2, ref 3, ref 4, ref 5 National Bank, ref 1 National Commercial, ref 1, ref 2 National Health Service, Brown seeks to protect, ref 1 National Provincial, ref 1 Nationwide, ref 1 NatWest, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9, ref 10, ref 11 and Enron, ref 1 and Fastow deal, ref 1 FG assurance to staff of, ref 1 integration of, ref 1, ref 2, ref 3 RBS launches hostile bid for, ref 1 RBS wins battle for, ref 1, ref 2, ref 3 Neale, James, Fordyce and Downe, ref 1 New Century Financial Corporation, ref 1 New Edinburgh, founding of, ref 1 New Labour, see Labour News International, ref 1 Newsweek, ref 1 Nicklaus, Jack, ref 1 9/11, ref 1 Noble Grossart, ref 1 Norman, Montagu, ref 1 North Sea oil, ref 1 Northern Rock, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8 battle-hardening effect of, ref 1 Obama, Barack, ref 1 Open Championship, ref 1 Orcel, Andrea, ref 1 O’Roarke, John, ref 1 Osborne, George, ref 1, ref 2, ref 3 Panama Canal, ref 1 Paterson, William, ref 1, ref 2, ref 3, ref 4, ref 5 Paulson, Hank, ref 1 Paulson, John, ref 1 payment-protection insurance (PPI), ref 1, ref 2, ref 3, ref 4, ref 5 Pell, Gordon, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9, ref 10 personal debt, ref 1 Peston, Robert, ref 1, ref 2, ref 3, ref 4 Philip, Prince, Duke of Edinburgh, ref 1 Phillips & Drew, ref 1 Phillips, Peter, ref 1 Phillips, Zara, ref 1 Pickford, Steve, ref 1 Port Financial Corporation, ref 1 Prince Trust, ref 1 Project Columbus, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7 property prices, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9, ref 10, ref 11 see also sub-prime mortgages Prudential Regulation Authority, ref 1, ref 2 ‘Prufrock’, ref 1 Punta Escocés (Scottish Point), ref 1 Purves, Willie, ref 1, ref 2 Putin, Vladimir, ref 1 PWC, ref 1, ref 2 Rafferty, Jim, ref 1 Randall, Jeff, ref 1 RBS, see Royal Bank of Scotland RBS Americas, ref 1, ref 2, ref 3 RBS Greenwich, ref 1, ref 2, ref 3, ref 4 new premises of, ref 1 see also Greenwich Capital RBS Insurance, ref 1 Reagan, Nancy, ref 1 Reagan, Ronald, ref 1 Rebonato, Riccardo, ref 1, ref 2 Reid, John, ref 1 Rell, Jodi, ref 1 Retail Direct, ref 1 Richardson, Gordon, ref 1 Rick, Steve, ref 1, ref 2 Rob Roy, ref 1 Robert Fleming & Co., ref 1 Robertson, Iain, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6 Robertson, Leith, ref 1, ref 2, ref 3, ref 4, ref 5 Robson, Steve, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9, ref 10 FG recklessness worries, ref 1 Roden, Neil, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6 Roosevelt, Theodore, ref 1 Rosenfield, Dan, ref 1, ref 2, ref 3, ref 4 Rosyth Dockyard, ref 1 Rowland, David, ref 1, ref 2, ref 3, ref 4 Roxborough Manayunk Bank, ref 1 Royal Bank Group, ref 1 Royal Bank International, ref 1 Royal Bank of Scotland (RBS): and ABN Amro, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9 acquisitions of, ref 1, ref 2, ref 3, ref 4, ref 5 aggressive targets set at, ref 1 auditing of, ref 1, ref 2 away days of, ref 1, ref 2 bailouts of, ref 1, ref 2, ref 3 passim, ref 1, ref 2 balance sheets of, ref 1, ref 2, ref 3 Bank of Scotland early rivalry with, ref 1 becomes Scotland biggest, ref 1 bets against, ref 1 bicentenary of, ref 1 bids for Birmingham and Midshires, ref 1 and car dealership, ref 1 cash-credit system refined by, ref 1 Christmas lunches at, ref 1 and Citizens Bank, see Citizens Bank City editors’ meeting with, ref 1 compensation claim against, ref 1 confused reporting lines in, ref 1 Corporate Banking and Financial Markets (CBFM) within, ref 1, ref 2, ref 3 Corporate Banking and Financial Markets within, ref 1, ref 2 corporate carnage in, ref 1 depositors move money out of, ref 1, ref 2, ref 3 early Edinburgh premises of, ref 1 early rivals of, ref 1 Edinburgh booms because of, ref 1 and ‘efficient capital’, ref 1 exposure of, ref 1, ref 2, ref 3, ref 4, ref 5 extraordinary general meeting of, ref 1 falling share price of, ref 1, ref 2 FG arrives at, ref 1 FG becomes CEO of, ref 1 FG first year at, ref 1 financial monster, ref 1 fines paid by, ref 1 first governor of, ref 1 and Forbes, ref 1 founding of, ref 1, ref 2, ref 3, ref 4 and FSA, ref 1, ref 2 on FSA watch-list, ref 1 FSA failure to investigate, ref 1, ref 2 FSA post-collapse meeting with, ref 1 Global Banking & Markets (GBM) within, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9, ref 10, ref 11, ref 12, ref 13, ref 14, ref 15, ref 16, ref 17, ref 18, ref 19, ref 20 Gogarburn premises of, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6 growing profits of, ref 1 Hampton verdict on, ref 1 Harvard study on, ref 1, ref 2 Hester becomes CEO of, ref 1 Hester verdict on, ref 1, ref 2 history of (20C), ref 1 passim; see also Royal Bank of Scotland: originsand early history of horrific annual results of (2009), ref 1 HSBC in secret talks with, ref 1 investment-banking division of, ref 1 and Irish banks’ meltdown, ref 1 as joint stock-bank, ref 1 lagging share price of, ref 1 lay-offs from, ref 1 liquidity concerns of, ref 1, ref 2, ref 3, ref 4, ref 5 losses of, ref 1, ref 2, ref 3 McKillop arrives at, ref 1 McKillop assumes chairmanship of, ref 1 McKillop confirmed as chairman of, ref 1 ‘Make it Happen’ slogan of, ref 1, ref 2 market turbulence worries, ref 1 Mathewson arrives at, ref 1 Mathewson invites FG to, ref 1 modern British banking pioneered by, ref 1 morning meetings at, ref 1, ref 2, ref 3 and NatWest, ref 1, ref 2, ref 3, ref 4, ref 5 and NatWest integration, ref 1, ref 2, ref 3 new Bishopsgate offices of, ref 1 new chairman sought by, ref 1 New York office of, ref 1 opens for business, ref 1 origins and early history of, ref 1; see also Royal Bank of Scotland: history of (20C) overdraft invented by, ref 1 overextension of (1830s), ref 1 privatisation of, ref 1, ref 2 profits rises of, ref 1, ref 2, ref 3, ref 4, ref 5 profits warning by, ref 1 and Project Columbus, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7 promotion for women in, ref 1 in Queen Gogarburn speech, ref 1 ratings agencies’ downgrading of, ref 1 ‘RBS’ becomes preferred name of, ref 1 reconstruction of, ref 1 rights issue of, ref 1, ref 2, ref 3 sports sponsorship by, ref 1 sub-prime mess entered by, ref 1 ‘sues for peace’, ref 1 tier 1 capital of, ref 1, ref 2 twice-suspended shares of, ref 1, ref 2 wholesale reorganisation of, ref 1 widening funding gap of, ref 1 Younger becomes chairman of, ref 1 Younger enters, ref 1 see also Goodwin, Fred; Mathewson, George; RBS Americas; RBS Greenwich; RBS Insurance Rumsfeld, Donald, ref 1 Salmond, Alex, ref 1, ref 2, ref 3, ref 4 Salomon Brothers, ref 1, ref 2 Samuels, Simon, ref 1 Sandler, Ron, ref 1 Santander, ref 1, ref 2, ref 3, ref 4, ref 5 Sants, Hector, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6 Schofield, Tony, ref 1, ref 2 Scholar, Tom, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6 Schroders, ref 1 Scotsman, ref 1, ref 2, ref 3 Scott, Bob, ref 1, ref 2, ref 3, ref 4, ref 5 bailout terms heard by, ref 1 Scottish Development Agency (SDA), ref 1 Scottish Enlightenment, ref 1, ref 2, ref 3 Scottish National Party (SNP), ref 1 Scottish Parliament, opening of, ref 1 Scottish Point (Punta Escocés), ref 1 Scottish Reformation, ref 1 Securities and Investments Board (SIB), ref 1 S.G. Warburg, ref 1 ‘Silicon Glen’, ref 1, ref 2 Silver Jubilee Trust, ref 1 single currency, ref 1 Six Nations Championship, ref 1 Skilling, Jeffrey, ref 1 Smart, Alan, ref 1 Smart, Ian, ref 1 Smith, Adam, ref 1, ref 2, ref 3, ref 4, ref 5 Smith, John, ref 1 Société Générale, ref 1 Sorrell, Martin, ref 1 Souter, Brian, ref 1 Spence, Geoffrey, ref 1, ref 2 Stagecoach, ref 1 Standard Chartered, ref 1 Standard Life, ref 1, ref 2 Standard and Poor, ref 1 Stevenson, Lord, ref 1, ref 2 Stewart, Jackie, ref 1, ref 2 Stuart, Charles Edward (‘Bonnie Prince Charlie’), ref 1, ref 2 Stuart, James Francis Edward (‘Old Pretender’), ref 1 sub-prime mortgages, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9 beginning of crisis of, ref 1 first securitisation of, ref 1 see also collateralised debt obligations; property prices Sunday Telegraph, ref 1 Sunday Times, ref 1 Sutherland, Peter, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9, ref 10 Swiss Bank Corporation, ref 1 tax revenues, fall in, ref 1 TCI, ref 1 Thatcher, Margaret, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6 ousted, ref 1 Thorburn, David, ref 1 3i, ref 1 Times, ref 1, ref 2 Tiner, John, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7 Tories: 1983 victory of, ref 1 1987 victory of, ref 1 1992 victory of, ref 1 1997 defeat of, ref 1, ref 2 2001 defeat of, ref 1 2005 defeat of, ref 1 and bank regulation, ref 1 not blameless, ref 1 Tosca, ref 1, ref 2 Touche Ross, ref 1, ref 2, ref 3, ref 4, ref 5 Treaty of Union, ref 1 Tucker, Paul, ref 1 Turner, Adair, ref 1, ref 2 UBS, ref 1, ref 2, ref 3, ref 4, ref 5 Ulster Bank, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9 unemployment, ref 1 Vadera, Baroness (Shriti), ref 1, ref 2, ref 3, ref 4, ref 5 Vallance, Lord, ref 1 Value at Risk (VaR), ref 1, ref 2 Vanity Fair, ref 1 Varley, John, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8 Wallace, William, ref 1, ref 2 Walpole, Robert, ref 1 Walters, Humphrey, ref 1 Wanless, Derek, ref 1 Waples, John, ref 1 Wark, Kirsty, ref 1, ref 2 Washington Mutual, ref 1, ref 2 Watt, Fred, ref 1, ref 2, ref 3, ref 4 Wealth of Nations, The (Smith), ref 1, ref 2, ref 3 Weir Group, ref 1 Welch, Jack, ref 1 Western Bank, ref 1 Westminster Bank, ref 1 ‘What Went Wrong with RBS’ (Crutchley), ref 1 Wheatcroft, Patience, ref 1 Whelan, Kevin, ref 1 White, John, ref 1 Whittaker, Guy, ref 1, ref 2, ref 3, ref 4, ref 5, ref 6, ref 7, ref 8, ref 9, ref 10, ref 11, ref 12, ref 13 bailout terms heard by, ref 1 and RBS losses, ref 1 William III/II, ref 1 Williams Deacon, ref 1, ref 2 Williams & Glyn, ref 1, ref 2 Willis, Graham, ref 1 Winter, Charles, ref 1, ref 2, ref 3, ref 4 Winters, Bill, ref 1, ref 2, ref 3, ref 4 Wolfe, Tom, ref 1 Wood, Peter, ref 1, ref 2 World Trade Center, ref 1 Wright, Alexander K., ref 1 Yahoo!

The Great Economists Ten Economists whose thinking changed the way we live-FT Publishing International (2014)
by Phil Thornton
Published 7 May 2014

The areas of industrial dynamics, which looks at the growth of capabilities within an industry rather than just a firm, and economic geography, which looks at how economic activity is organised, that feed into today’s government business policies, are in part a reflection of the way that Marshall saw the world. The focus on finding a way to mimic the modern high-tech industrial districts of Silicon Glen near Cambridge and the Silicon Roundabout in London’s East End reflect his contribution. Marshall opens Principles of Economics with the grand claim that economics is a ‘study of men as they live and move and think in the ordinary business of life’. He wanted the book 88 The Great Economists to be read and used by business leaders of his time.

pages: 271 words: 62,538

The Best Interface Is No Interface: The Simple Path to Brilliant Technology (Voices That Matter)
by Golden Krishna
Published 10 Feb 2015

Silicon Allee, 23. Silicon Alley, 24. Silicon Anchor, 25. Silicon Beach, 26. Silicon Border, 27. Silicon Bridge, 28. Silicon Canal, 29. Silicon Canal, 30. Silicon Cape, 31. Silicon Coast, 32. Silicon Corridor, 33. Silicon Desert, 34. Silicon Dock, 35. Silicon Docks, 36. Silicon Fen, 37. Silicon Forest, 38. Silicon Glen, 39. Silicon Goli, 40. Silicon Gorge, 41. Silicon Gulf, 42. Silicon Harbor, 43. Silicon Hill, 44. Silicon Hills, 45. Silicon Lagoon, 46. Silicon Lane, 47. Silicon Mall, 48. Silicon Mallee, 49. Silicon Mill, 50. Silicon Peninsula, 51. Silicon Pier, 52. Silicon Roundabout, 53. Silicon Sandbar, 54.

pages: 791 words: 85,159

Social Life of Information
by John Seely Brown and Paul Duguid
Published 2 Feb 2000

Death of Distance Despite our various mixed metaphors, when we talk about the region and related notions of place and locality, we mean these terms quite literally. Even for information technology firms, neighborhoods and regions remain significant. The namesnot only Silicon Valley, but less-familiar names from the Silicon family ("Silicon Glen" (Scotland), "Silicon Alley" (New York), "Silicon Forest" (Oregon), and many more) as well as others such as "Multimedia Gulch" and "Audio Alley''suggest the continuing formation (and imitation) of clusters. Like firms, ecologies need a range of overlapping but also complementary practices and organizations.

pages: 414 words: 128,962

The Marches: A Borderland Journey Between England and Scotland
by Rory Stewart
Published 14 Jul 2016

But the rapid Swedish construction method was pushing up a steady 1,000 houses a year, encircled by a ring road. Underpasses connected car-parking space to Scotland’s largest indoor mall. Livingston was dominated by Japanese electronics companies. It had grown from a hamlet into one of the ten largest towns in Scotland, and the centre of Scotland’s silicon glen, pumping out about a third of the PCs in Europe and most of Europe’s ATMs. The corporation’s motto was ‘Creating a future where there was only a past’. Susan had felt the absence of this past. Although her father was an engineer, and her grandparents and great-grandparents had run a large coach business in Edinburgh, she thought of herself as working class.

From Airline Reservations to Sonic the Hedgehog: A History of the Software Industry
by Martin Campbell-Kelly
Published 15 Jan 2003

In the last 20 or 30 years, in Europe and many other parts of the world, planners have attempted to reproduce the success of Silicon Valley in their local economies. Great Britain, for example, has a Silicon Fen (in the lowlands around Cambridge), a Silicon Ditch (in the Thames Valley corridor to the west of London), and a Silicon Glen (in Scotland). When planners attempt to clone Silicon Valley, they generally do so by trying to establish an economic and physical environment similar to that which enabled the original Silicon Valley to flourish. Such attempts are always deeply informed by history. For example, it is widely understood that Silicon Valley did not happen overnight.

pages: 460 words: 131,579

Masters of Management: How the Business Gurus and Their Ideas Have Changed the World—for Better and for Worse
by Adrian Wooldridge
Published 29 Nov 2011

Far from being sworn enemies, startups and established companies usually exist in a codependent symbiosis. Many of the silliest government policies are driven by what might be called “Siliconitis”: the conviction that encouraging entrepreneurialism is synonymous with creating your own version of Silicon Valley—hence Silicon Alley, in New York; Silicon Glen, in Scotland; and even, depressingly, Silicon Roundabout, in London. But most Silicon knockoffs are failures. There is no point in trying to create the next Silicon Valley if you lack the Valley’s remarkable resources: two world-class universities, Stanford and Berkeley, and a major financial center, San Francisco.