In the 1950s, the cutting-edge technology of the day was automobiles, not computers. At the time, Detroit was on top of the world. The top three global car companies were headquartered there. The world’s leading entrepreneurs flocked there for access to talent, capital, and culture. Detroit was leading the way in automotive technology, which promised to reinvent the ways we built our cities, organized our society, and lived our lives. Then innovation started to take root all over the world. Car companies emerged in France, Italy, Germany, Poland, Sweden, and Japan. Over time, certain regions specialized, and in time surpassed Detroit. Italy became the home of the best and fastest sports cars, and Germany to raw engineering. Silicon Valley and Shenzhen are the leaders in electric cars. The playbook on car making was also rewritten abroad. Toyota, for instance, pioneered the transformative approach of “just in time” manufacturing. Detroit was left behind. advertisement advertisement Silicon Valley may be headed for a similar fate. Again, we’re seeing innovation today taking root everywhere. There are over 480 startup hubs around the world and 1.3 million startups. The best place in the world to create super-apps is China. The largest digital bank is… Read full this story
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