Probably because the US let software be a breeding ground for monopolies. People invest there because they understand that's the best sector to, if the company

Probably because the US let software be a breeding ground for monopolies. People invest there because they understand that's the best sector to, if the company works out, get unreasonable returns. As an example, the current AI valuations make no sense if the industry doesn't solidify around one or two companies. If you have money, the returns you'll get elsewhere are much less attractive, and can only be justified if they're very safe investments.