Molson Hart

We should crowdsource a list of all the potential reasons the United States has become less innovative. I'll start: - Weaker patent protection - No existential threat to incentivize innovation (USSR) - Falling testosterone - Social media changing incentives

- Overfinancialization of our economy (hedge funders make more money than inventors and engineers) - We've found all the good ideas already - Manufacturing has left the United States What else????

I got some outstanding answers to this question. Here they are: - Regulations and our overactive legal system (h/t @mgirdley and @changkelong) - Increased cost of healthcare (h/t @gsvigruha) - increased cost of living expenses (h/t @gsvigruha & @dragosilinca)

- Increased cost of education, resulting in unbearable student debts which must be paid off before risks can be taken (@gsvigruha and @omeratah) Conversely, what's improved since the golden era of innovation? - Lower cost of company formation (software)

- Many dramatic examples of software successes (Mark Z) in media - Shark Tank is a celebration of entrepreneurial ideals and a recent invention - Greater acceptance of failure (i.e. Google's willingness to hire "failed" entrepreneurs) - Diversity and affirmative action programs

- Advent of accelerators (Y Combinator etc.) - Huge amounts of capital being pumped into the space from vc firms It's interesting. Lots of reasons to think that entrepreneurship should be increasing a lot.