The exponential growth of this industry was correlated with the phenomenon famously discovered by Moore, who in 1965 drew a graph of the speed of integrated circuits, based on the number of transistors that could be placed on a chip, and showed that it doubled about every two years, a trajectory that could be expected to continue. This was reaffirmed in 1971, when Intel was able to etch a complete central processing unit onto one chip, the Intel 4004, which was dubbed a "microprocessor." Moore's Law has held generally true to this day, and its reliable projection of performance to price allowed two generations of young entrepreneurs, including Steve Jobs and Bill Gates, to create cost projections for their forward-leaning products. The chip industry gave the region a new name when Don Hoefler, a columnist for the weekly trade paper Electronic News, began a series in January 1971 entitled "Silicon Valley USA." The 40-mile Santa Clara Valley, which stretches from South San Francisco through Palo Alto to San Jose, has as its commercial backbone El Camino Real, the royal road that once connected California's 21 mission churches and is now a bustling avenue that connects companies and startups accounting for a third of the venture capital investment in the United States each year. "Growing up, I got inspired by the history of the place," Jobs said. "That made me want to be a part of it."