ABSTRACT
The knowledge-intensive entrepreneurial small business ventures are the most desirable, since they produce high-paying jobs with unlimited earning potential. Few areas compare to Silicon Valley as a center for scientific and technological innovation. Silicon Valley also accounts for one-third of all of the venture capital investment in the United States, which has helped it to become a leading hub and startup ecosystem for high-tech innovation and scientific development. Before 1965, the US immigration policy severely curtailed foreign entry by mandating small quotas according to national origin. High-impact firms generate all net jobs in the economy, and their job creation capacity is largely immune from the expansions and contractions of the business cycle. Gazelle firms also display rapid sales growth in a short period of time. Bad luck surely plays a role, but disaster usually strikes because of a more fundamental flaw: in the original idea, the strategy, and the execution —that is, the "secret sauce."
