American politicians love to gush about the US’s innovation and entrepreneurship prowess. Notable names like Hillary Clinton and Paul Ryan have in the past referred to the nation, as the world’s most innovative.
Nevertheless, an alarm is sounding over the States “innovation crisis.” Fewer startups are taking root, and older ageing behemoths have stagnated. Federal funding cuts, as well as unfriendly SEC and IRS regulations, are causing brain drain that will adversely affect the nation’s future economic prosperity.
As an illustration, American electronics engineers and Apple’s co-founder Steve Wozniak has moved to Malta. The brain behind the first commercially viable personal computer has moved to the small Southern European island nation to open a blockchain startup. The brilliant engineer is investing in Efforce, a business focused on energy efficiency.