Balaji has a theory that cloud-based cultures are forming and superseding geographic cultures. That may be true, but it hasn't happened comprehensively yet. Finally, there's an issue of the local culture accepting foreigners. There's a saying that anybody can be an American, meaning that anyone can be a first-class citizen here, but not anybody can... See more

Whatever your exact view of the Solow and increasing returns models, the logic of the increasing returns model will likely carry significant weight in our final evaluation. In many cases our best answer, given current knowledge, is that a given cost brings some probability of an ongoing growth effect (as in the increasing returns model) and some pr

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