I honestly cannot speak for any Gujarati in SV or even tech, but in my experience, I don't think that Gujaratis are significantly different in terms of skills, morality, or values than any other Indian or non-Indian group of people. It is very easy to say Gujaratis are shrewd or follow the old-boys-club tactics but those are just typical human traits passed on culturally and sociologically instead of genetically. The basic Gujarati values mirror the basic Indian values (be peaceful, love everyone, respect elders, help the poor, be studious, work hard) but some are emphasized a lot more than others.

For every commenter in here saying Gujarat is a backwards place, I personally know a Gujarati who has donated large amount of money to non-religious public service projects. My uncle sponsors the education of 10 kids in our village in India and feeds 100+ people on the death anniversary of my grandfather. I am not saying he is a saint, I am saying he is just one data point among the tens of thousands of successful Gujaratis. It's not fair to measure charity, benevolence, and kindness because one's native place is not Singapore or Zurich just yet.

In the past few decades, our village has progressed significantly, with wealthier Gujaratis awarding scholarships to kids in need ( http://www.balasinorcollege.com/found_trust.html ). Is that enough to wipe out poverty from Gujarat or India? Absolutely not. Gujaratis are NOT any different from other people. Few great, most decent, and a handful of bad apples (e.g. Harshad Mehta). I don't think the article was trying to highlight Gujaratis are some uber-exceptional race. It was just highlighting how ingrained business acumen is in the Gujarati ethos.