The Valley has a fascination with cool ideas rather than products. And, over time, more suits will move in. Some elements of the social divide in Silicon Valley are not acknowledged. There are also infrastructure problems which will not be solved by the next cool idea. While Silicon Valley is good at creating wealth, it is less good at doing something with this wealth.
Globalization exaggerates weaknesses and strengths.
It hands power to individuals but it also increases inequality. While some people are left behind, millions more leap ahead. The winners hugely outnumber the losers. It can make bad government worse, but the onus should be on crafting better government, rather than blaming globalization. While it curtails some of the power of nation-states, they remain the fundamental unit of modern politics.