Google didn't happen in the US because the US is a big country.
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Google happened partly because the US had a bigger economy which translated into VC funds abounds.
VC money comes from LPs. They don't have to be in the same country.
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I wonder if you saw my essay/overview on Google.
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The current debt-based economy based on the dollar is fundamentally flawed, BTW.
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But, It’s an undeniable fact that LPs have much focus on local startups before looking elsewhere.
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Baillie Gifford one of the big LPs is actually British.
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Are you ready to strike the geographical location balance on LPs? About 45% of funds-of-funds comes from US; AIG, GoldMan Sachs, Lehman Brothers and a bunch more. EU which includes BR as you mention have less than 20% of the entire global LPs cake.
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"They don`t have to be from the same country" does not mean, that LPs in US VCs predominantly come from outside US. This is possible, but rare event, considering, abundance of local money. Both economy and VC industry are world`s largest. Tech is arguably function of economy.
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