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The Silicon Valley Loop, Malcolm Harris’s Palo Alto

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How the dot-com crash created Palo Alto’s clueless investor class.

Photo-Illustration: Intelligencer; Photos: Getty Images It’s difficult to narrativize Silicon Valley history. Narratives usually have a rising and falling action. Conflicts build, peak, resolve. The end. How, then, to tell the story of Palo Alto, where the conflicts swell but never seem to crest? Here, Icarus dusts himself off and pivots to zeppelins. Once again, the tech industry finds itself in a contrite low-altitude phase. Having benefited from a generally hot stock market and a specifically hot sector amid a pandemic turn to online spending, tech has suffered from the Fed’s rate hikes and

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