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To help make sense of the Facebook IPO, we caught up with Steve Blank,
a professor at Berkeley and Stanford and serial entrepreneur from
Silicon Valley. This conversation has been edited and condensed.
THOMPSON: What does the Facebook IPO mean for Silicon Valley?
I think it's the beginning of the end of the valley as we know it.
Silicon Valley historically would invest in science, and technology,
and, you know, actual silicon. If you were a good VC you could make $100
million. Now there's a new pattern created by two big ideas. First, for
the first time ever, you have computer devices, mobile and tablet
especially, in the hands of billions of people. Second is that we are
moving all the social needs that we used to do face-to-face, and we're
doing them on a computer. And this tren
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