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Author(s): Bryant Walker SmithPublication Date: October 24, 2016Publication Type: Other WritingAt the outset, it's not clear to me what Silicon Valley is and isn't — or why that matters. Companies like Google are often contrasted with companies like General Motors, and yet, according to an automotive industry group, automakers spend over $100 billion every year on research and development worldwide. R&D is a form of tech innovation. Energy companies, pharmaceutical firms and financial institutions are also technological powerhouses. Innovation is central to telecommunications, defense and health care.