Is There a Difference Between Silicon Valley and AT&T?

The CEO of PayPal talks about the differences between Silicon Valley and traditional companies. He says there are many more similarities than differences in how they approach product development. At AT&T, functional background is really important to rise through the ranks at a company like PayPal or others where software is the business. The other thing though that was remarkable at AT&T and then at Kodak and at Kaiser was the caliber of leadership.