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The thing that really makes Silicon Valley special is this concept of permissionless innovation. Since Hulin
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and Packard 85 years ago started building Silicon Valley, the idea has always been that just a couple of
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founders kind of a great idea, start their company, they get some angel investors to write a check for seed
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capital. Those investors think they're probably going to lose their money, but
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they figure there's a shot. It could be the two guys in a garage or it could be
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the college dropout in the dorm room and they don't need to go to Washington to
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get permission for their idea, right? It's permissionless innovation. That's
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what has made Silicon Valley the crown jewel of the world. It's why so many of
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the heads of state who are here are always asking how do we create our own Silicon Valley. That was not the
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direction we were on when President Trump came into office. the new 300 pages of regulations concerning AI the
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Biden administration left us with would have changed this environment of permissionless innovation to an
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environment of you have to go to Washington to get approval for your idea and I think that President Trump really
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corrected that and since then we've been implementing his AI action plan which is
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all about pro- innovation pro infrastructure pro energy and pro export so it's been a total change and I think
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just in the past year you've seen the results of