I think all those investors and the tech activity in the SV area is a side effect of one big DoD's initiative: to build a world-class surveillance network with all the infra around it. They expressed this desire to spend trillions on this and a few companies who made it happen are now valued at 1-2 trillions. Attempts to replicate SV by "investing into startups" is like crafting a wooden airplane to summon goods.