At that time, Silicon valley didn’t exist and California was barely getting mass migration. About a century later, now even the car industry seems to move toward California..
Ex: ~1000$ an acre. https://www.landandfarm.com/property/Freeman_Ranch-7072064/
https://en.wikipedia.org/wiki/List_of_U.S._states_by_histori...
I believe the population growth has contributed to the growth of Silicon valley significantly. There seems some feedback loop between the population growth and the industry growth.