Yes but that's my point! It was empty lands, then entrepreneurship moved there after the gold rush, and now it's slowly changing as people are moving out California to Austin/Colorado/Arizona etc.
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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
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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So, yeah it overlaps with the venn diagram of "empty lands" both abstract and concrete but I feel like there are better ways to explain it, especially with the haigui or 海龟 or sea turtle phenomenon. Chinese are going back to China from the USA to build wealth.
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AFAIK, Eric Yuan is one of the last of his generation. The guys like that don't foudn companies in American anymore because it's better for them to be in China.
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