The Idea That Built Silicon Valley: Permissionless Innovation

The thing that really makes Silicon Valley special is this concept of permissionless innovation. Since Hulin and Packard 85 years ago started building Silicon Valley, the idea has always been that just a couple of founders kind of a great idea, start their company, they get some angel investors to write a check for seed capital. Those investors think they're probably going to lose their money, but they figure there's a shot. It could be the two guys in a garage or it could be the college dropout in the dorm room and they don't need to go to Washington to get permission for their idea, right? It's permissionless innovation. That's

what has made Silicon Valley the crown jewel of the world. It's why so many of the heads of state who are here are always asking how do we create our own Silicon Valley. That was not the direction we were on when President Trump came into office. the new 300 pages of regulations concerning AI the Biden administration left us with would have changed this environment of permissionless innovation to an environment of you have to go to Washington to get approval for your idea and I think that President Trump really corrected that and since then we've been implementing his AI action plan which is

all about pro- innovation pro infrastructure pro energy and pro export so it's been a total change and I think just in the past year you've seen the results of