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"I think Silicon Valley has been toppled from its pedestal. I think information technology is much less important in the global picture today than it was even 10-20 years ago. ... I think the areas where people will be making a difference and making important social and economic contributions will be in the area of energy and bio-engineering. While there will be contributions in bio-technology and bio-engineering and energy technology that will come out of the valley, I do not believe it will have the type of global leadership position in those areas that it did in information technology."

— Tom Siebel, founder of Siebel Systems, tells the BBC that Silicon Valley's days as the epicenter of innovation are behind it. 2009