Labor In The Network Society Lessons From Silicon Valley

During the dramatic Internet-driven boom of the 1990s, Silicon Valley was described as the home of “the greatest-ever legal creation of wealth in the history of the world.”1 For the young entrepreneurs, engineers, and computer professionals who benefited from abundant job offers, high wages, and sky-rocketing stock options during this time, Silicon Valley offered seemingly limitless opportunities for economic prosperity. By 2003, however, conditions for workers in the region had radically changed. Stock prices crashed, making most stock options worthless, while in the space of only two years, more than 18 percent of total jobs in the Valley disappeared and average pay declined by an astonishing 22 percen