This former Apple executive is betting on Shenzhen, not Silicon Valley, to create the 'next Apple'
Startups building consumer electronics will have a better shot at becoming the next Apple in Shenzhen than in Silicon Valley, said Will Wang, CEO of China's smart-glasses startup.
The increasing geopolitical competition and the maturing of supply chains and innovation ecosystems outside of Silicon Valley is enabling new centers of tech development to emerge.
This highlights the decentralization of global tech innovation and manufacturing, challenging the long-standing dominance of Silicon Valley and indicating a shift in future consumer electronics leadership.
The perceived essentiality of Silicon Valley as the sole innovation hub for 'next big things' in consumer electronics is being re-evaluated, with Shenzhen gaining strategic importance.
- · Shenzhen tech ecosystem
- · Chinese consumer electronics companies
- · Hardware-focused startups
- · Silicon Valley startups (hardware)
- · US venture capital focused solely on Silicon Valley hardware
- · Traditional tech innovation hubs
More hardware startups and investment will flow into Shenzhen, further strengthening its manufacturing and innovation capabilities.
This could lead to a bifurcation of global consumer electronics markets, with distinct ecosystems and product philosophies emerging from East and West.
Long-term, this decentralization might foster greater global resilience in technology supply chains but could also intensify competition and potential fragmentation of technology standards.
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Read at CNBC — Technology