Even within the USA you can see how entrepreneurship moves towards the empty lands. East Coast -> West Coast -> remaining midlands.
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1. Land prices. I don't think cheap land is all that important. Plus, it tends to be correlated with lack of economy dynamism. Even after controlling for that, it doesn't matter. Sure SV is more expensive today than 10 years ago, but 10 years ago it was fucking expensive!
The most valuable new companies in the world are getting build where land is expensive, not cheap. When you raise the type of money necessary to build a billion dollar startup you can pay $10k/month in personal rent.
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2. Cheap land in the abstract sense. One of the most powerful, replicate-able effects in psychology is anchoring. This manifests itself in effort and ambition. Whether it's an immigrant who sees how much more he earns per hour in America vs. his home country or a 1st generation
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American, seeing how much better off he is than his parents who toiled, day-in and day-out in their laundromat so he could be the first in his family to attend an ivy league school. That matters a lot for motivation. It might be driving China's resurgence now in fact.
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