Silicon Valley isn't the same anymore

In 1999, Silicon Valley VCs were video-taped saying that a 28-yr-old executive was better equiped to navigate the new market than the seasoned executive. VCs, established executives, investors, and peers all put faith in the talents of anyone who demonstrated the slightest inkling of ability.

Now the 28-yr-old executive doesn't exist. Even those in their 30's with proven track-records of success after success have a hard time getting promoted. The meritocracy is gone. The most desirable candidates are brand name individuals with personal ties to Steve Jobs or John Doerr or Eric Schmidt. The role should not be a stretch because you're a proven commodity; a career position player with 10 years under your belt in that position. Mentorship is not part of the benefits package. Ambition in not a desirable trait.

Update: Oct 11

After thinking about this further, I've decided the data doesn't support my statements. The YouTube execs are in their 20's. Larry and Sergei are in their early 30's. The founders and executives of thefacebook are similarly young. The venture capital community does seem willing to continue to support the young entrepreneur, which is terrific and necessary.

Unfortunately, I think my own company fits the description above, but I no longer attribute that to the Valley as a whole.