Silicon Valley Tech Leader Taking Cautious Approach In The New Year

SAN JOSE (KCBS) – It was seen as a banner year in 2013 for many high tech companies in Silicon Valley, though it’s still unclear if they can maintain that momentum in 2014.

Carl Guardino with the Silicon Valley Leadership Group said there are some potentially troubling signs ahead.

“Innovation is on fire in Silicon Valley. That usually means the economic outlook for Silicon Valley is strong,” Guardino said. “The challenge is the unknown. That can be the unknown catastrophe that happens anywhere in the globe, it can be the unknown economic impacts that hit China, South America, Europe or other areas that are key customers in the global marketplace.”

The Silicon Valley Leadership Group represents almost 400 companies in Silicon Valley.

Guardino said one of the biggest potential stumbling blocks is a lack of help from Washington.

“It’s almost like a tale of two cities. You have the private sector economy, especially the innovation economy in America booming, and driven right here in Silicon Valley” he said. “And then we look at our public sector partners that we really rely upon, to help us up our game in a global competition. And they have not been able to work well together.”

Guardino said 2013 was solid across industry clusters in Silicon Valley, including in terms of job growth, economic growth and innovation.

(Copyright 2014 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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