Silicon Valley returns to glory days

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Silicon Valley returns to glory days

Silicon Valley is starting to wake up after its long recession hit slumber, according to the BBC.

The broadcaster says that Wall Street and Silicon Valley inverters are a lot more optimistic as they are watching an enormous amount of really good companies coming up and good people leaving their jobs and joining start-ups.

There have been a lot of buy outs in the hi-tech field too.  This includes the purchase of Mint.com by Intuit for $170m,  Adobe buying Omniture for $1.8bn the sale of Skype to a private equity syndicate for $2bn and the purchase of SpringSource by VMware for $420m.

Analysts think this splurging is a sign that Silicon Valley is feeling more self confident and is interested in flashing a bit of cash.

Empty offices still dot the Silicon Valley landscape and the unemployment levels are only slightly down from a record high of 11.9% but it seems that people are starting to hire again.

However companies are still a little shell shocked.  Kevin Rose, who founded Digg was quoted as saying that businesses today are undoubtedly leaner and smarter.

There are no lavish parties and hiring crazy rock starts to perform at your events as there once was in the past.  These days it is all tweet-ups and meet-ups at bars and stuff, he said. More here.

* Co-founder of Netscape,  Marc Andreessen has signed on to joined the board of Hewlett-Packard.
Andreessen, 38, co-founded  Web-browser pioneer Netscape Communications in 1994 with Eric Bina as an undergraduate at the University of Illinois at Urbana-Champaign. It was sold to AOL after it lost the browser war to a small upstart Microsoft.