Name a company outside the valley that does do a ton of business in Indonesia or Indiana?
Texas Instruments? Nope
Digital Equipment or Compaq? Nope, and they got bought out by HP, that standard-bearer for the Valley.
It would be great if more African-Americans and Latinos were in tech, but they tend not to get the college degrees you need to work in technology. Also, you talk about whites and Asians ruling the Valley, which is true. However, you will be hard-pressed to find a more diverse group of whites and Asians working in one place than you find in the Valley. Silicon Valley has historically pulled in (and still largely pulls in) a truly impressive amount of engineering and scientific talent from Germany, the UK, Taiwan, Egypt, mainland China, India, Pakistan, Iran, Italy, Singapore, Vietnam, South Korea, Japan, France, Russia, Romania, Spain, etc.
The Valley has its problems, and it can certainly be clubby, however, name any major business center for any industry where breaking into the club is not a problem.