Azeem Azhar

I remember talking to somebody very senior at one of the foundation AI labs a couple of months ago, and they said to me, what we can't figure out is how this technology doesn't become a giant vacuum cleaner, sucking all of the wealth to

to San Francisco.

And this is obviously not an interest rates question, but it is a challenge, I think, about how you revitalize local economies, because local economies are fundamentally where people live.

It's where they have their roots.

When I got involved in the tech industry, you know, the ratio of San Francisco to Boston was about two to one.

And now it's whatever, 50 to one or 30 to one.

I mean, it's really, it's really changed.

And I agree.

It's a really, it's a glomeration problem that you know so well.

Very, very hard to find great policy solutions, solutions towards, I suppose,

The only things that start to perhaps be a little bit rosier, I mean, I wonder the extent to which the IRA, which was one of Biden's flagship policies, has been able to revitalize manufacturing in places that are not San Francisco or New York.

And with that, you can start to see local ecosystems and expertise in those areas.

And, you know, further down the track, ultimately local economies can function because there are people there.

But it doesn't feel like you're going to have the anchor tenancy of the big 10 or 20 companies.

I mean, of the big 10 companies in the US, I think every single one is on the West Coast.

So, you know, there are things I can't predict.

You can't predict events.

I can't predict the breakout of a war and I can't predict

a crazy, extreme diplomatic position that might emerge.

But I think the US is just really, really well positioned.