How China's Tech Revolution Threatens Silicon Valley

"The spring of investment has come," declares a banner hanging over Zhongguancun Inno Way, a pedestrian walkway tucked behind the high-rise superstores of Beijing's high-tech electronics zone in the city's northwest. Twenty-somethings bustle by clutching coffee and take-out KFC, only the tops of their heads visible as they bury their attention in Chinese-made smartphones. Now the alley--whose Chinese name translates roughly as "Entrepreneurship Street"--is saturated with co-working spaces, cafés, and start-up accelerators. Inside Garage Café, a dark space on Inno Way filled with bleary-eyed entrepreneurs hunched over laptops, I meet 27-year-old Tian Yang. Tian studied at Sydney University, then worked for two years at the Chinese computer company Lenovo.