A great post from Austin with an interesting reference to Randy Komisar (VC partner with KPCB and author The Monk & the Riddle) in an interview with Brown Hen where he points to a critical aspect of the Silicon Valley culture of innovation:

Successful people also reinvest in innovation; they want to be a part
of the next big thing; they want to help mentor, guide and support
aspiring entrepreneurs. This reinvestment is probably the most
significant reason Silicon Valley is so prolific in terms of
innovations.

To create this community we need to bring together the entrepreneurs and angel investors from successful companies that feed the density of intensity (i.e. Lot’s of deals with experienced mentors occurring quickly within the same geographic area).

Amen to that.