Comment by inglor_cz

"there's no shortage of talent in Europe or France, it's just an issue of available capital"

This is more complicated than you paint it. Countries like UAE have enough capital to throw at things and little-to-no taxation, yet they don't attract as much talent as they would like to.

Preexisting centers of excellence like Silicon Valley are attractive for young talented people precisely because a lot of older talented people are already there. The same reason why a young talented painter in 15th century would prefer Florence to some rich, but boring place elsewhere.

You can only really do a meaningful work in a "heavy" field by tightly cooperating with others, and physical proximity still matters.