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But it is - a few examples: - bankruptcy laws in the US encourage more risk taking by not financially punishing founders/investors in case of failure - more d
by nxm 3y ago
But it is - a few examples:
- bankruptcy laws in the US encourage more risk taking by not financially punishing founders/investors in case of failure
- more dynamic labor market… hire fast but also fire fast if required
- less of a work/life balance culture
- fewer government regulations
- NoZZz 3y agoThis. Many banks as a condition of giving out a loan require a house as collateral. A house that's underwater also tacks a debt to your personal name for instance.
- jjeaff 3y agoVery few tech startups are working with bank loans. Banks in the US will almost never loan to a new business without a personal guarantee and collateral.
- csomar 3y agoMost of the tech is concentrated in California. If this was about regulation/labor market, it would have happened some place else in the US. That was not the case. Regarding taxes/gov. regulations, the US also has its own share of crazy. I don't think all of these elements matter much (otherwise Estonia and Malta would be the tech hubs of Europe).
- pfannkuchen 3y agoI believe California was much less regulated as you go back in time. Once a hotspot has started it might persist even into conditions that would have choked it early on.