00:00:00
Japan, Australia, Singapore, etc. They all want to recreate what we have here. Well, what we've created here in Silicon
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Valley and in America is these diasporas that start when a company like Google goes public and then those people go
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create Facebook or go work at Facebook like Cheryl Samberg did and they accelerate the growth there and then
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those people become angel investors. They become LPs. This incredible flywheel was cooking. I mean, it was so
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smooth and now we've literally stuck a stick in it. On top of that, when these people die, most of them gave all their
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money away to foundation, which is something very different between the US and Europe. In America, these people
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build companies, create new companies, invest in new companies, coach new companies, mentor new companies. And
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when they die, all that money goes to foundations that continue to promote and do some of the work that governments
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would do. And finally, how great is it that some foundations are competing with the government to decide what needs to
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be