Balaji S. Srinivasan said:
So the reason why is that today it’s Silicon Valley versus what I call the Paper Belt. So there’s four cities that used to run the United States in the postwar era: Boston with higher ed; New York City with Madison Avenue, books, Wall Street, and newspapers; Los Angeles with movies, music, Hollywood; and, of course, DC with laws and regulations, formally running it. And so I call them the Paper Belt, after the Rust Belt of yore. And in the last twenty years, a new competitor to the Paper Belt arose out of nowhere: Silicon Valley. And by accident, we’re putting a horse head in all of their beds. We are becoming stronger than all of them combined.²