I wonder if other (smaller?) countries trying to be more competitive will be able to outperform California over the long term. I.e. if a small country focuses o

I wonder if other (smaller?) countries trying to be more competitive will be able to outperform California over the long term. I.e. if a small country focuses on changing its laws to be the best in the world for startups, can that break through the incredibly strong network effect of Silicon Valley. The amount of Bitcoin startups in Singapore makes me think this is likely.