Yeah, wealth has legs, and we increasingly have this wealth meta-economy where different states are good at producing wealthy people (CA, NY) and different states are good at giving them a hospitable place to live. Sources and sinks.
This is probably good in some sense - you can argue that it's not healthy for states like CA to "own" so much of GDP end-to-end - but I wonder where this leads us in a couple of decades. Does it continue to be like this, or does it mean that more tech hubs pop up elsewhere because in the long haul, people probably prefer to work and invest close to home?
A big problem is that some of these places - e.g., Wyoming - don't have the higher-ed infrastructure that would foster new startups and high-tech research. On the flip side, California is now importing most of its entrepreneurs anyway.
This is probably good in some sense - you can argue that it's not healthy for states like CA to "own" so much of GDP end-to-end - but I wonder where this leads us in a couple of decades. Does it continue to be like this, or does it mean that more tech hubs pop up elsewhere because in the long haul, people probably prefer to work and invest close to home?
A big problem is that some of these places - e.g., Wyoming - don't have the higher-ed infrastructure that would foster new startups and high-tech research. On the flip side, California is now importing most of its entrepreneurs anyway.