That gave me an interesting thought. This would probably tend to make other countries catch up in the software industry, who don't have VC money, because they have to actually compete on merit and profit. This means they tend to take on problems with a real world application.
This isn't to say that they don't have funding, but the funding takes a more strategic approach of requiring real developments and profit, whereas a lot of US talent is tied up in adtech giants who cut products or in VC companies with no real path forward.
What we see is the opposite. Money gratituiously thrown at things like Uber and AirBnB destroys any profitability in those market segments and affect business models and profitability in related market segments.
This isn't to say that they don't have funding, but the funding takes a more strategic approach of requiring real developments and profit, whereas a lot of US talent is tied up in adtech giants who cut products or in VC companies with no real path forward.