Mark Zuckerberg’s knockoff site was a hit on campus, and so he and a few school chums decided to move to Silicon Valley after finals and spend the summer there rolling Facebook out to other colleges, nationwide. The Valley was where the internet action was. Or so they thought. In Silicon Valley during the mid-aughts the conventional wisdom was that the internet gold rush was largely over. The land had been grabbed. The frontier had been settled. The web had been won.

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