Thread by @balajis

If you're a city or country that wants the next Silicon Valley, the recipe is simple: abolish obsolete regulations.

- Fully legalize crypto
- Carve out zones for self-driving cars
- Allow expanded right-to-try in biomedicine

Here's more from 2014.
politico.com/magazine/story…

Focus on abolishing old regulations over subsidies or tax breaks. Here's why:

- legalizing something new is a true 0-to-1 step
- it gives instant global advantage vs other jurisdictions
- it's free & costs the jurisdiction nothing

Legalize innovation and the talent will follow.

It's hard to specifically attract the *digital* part of Silicon Valley, because it can be funded from anywhere and scaled online.

Instead, unlock innovation in the *physical* world by creating special innovation zones for particular technologies like self-driving cars.

Some people mention things like non-enforcement of non-competes as the main attractor for Silicon Valley. That's fine but way down the list. It's nothing compared to legalizing defi or challenge trials.

Be bold to make your city a world leader. Legalize innovation.