The great Innovation melting pot happens in the US for very specific reasons.

For great innovation to happen these four things are essential for large-scale digital innovation to flourish:

  1. Great research universities, big fundamental pursuits
  2. The rule of law and respect for contracts and property, intellectual and civil protection
  3. Large pools of innovation-seeking capital
  4. A cultural acceptance of risk and failure.

America’s combination of these is “unprecedented and unparalleled in the world. I note that one other country I can think of with all four of these in ample supply is Israel, which has a large (especially for its size) and thriving tech sector.

Tim Bates