There's still a lot of chip design and electronic design automation going on in Silicon Valley. The actual manufacturing has moved to lower cost areas.
That's not TSMC's gig though, they make the chips.
We should rename SV to Social Media Valley :)
I've been a long-time fan of "Silly Valley"
+1 for Silly Con Valley.
It's a quite accurate name for its phony startup culture (no offense to real startups).
Superhighway Valley. A good name to show its historical root on the Valley's current iteration of life.