Then came three enormous waves of academic and scientific talent to the US.
I don't think people have quite internalized *how* the US became the global leader in science and technology. It's partially a story of massive global talent migration.
And it's important to get this story right if we want to maintain
Then came three enormous waves of academic and scientific talent to the US.
In a massive own-goal, 1930s Nazi Germany dismissed ~15% of the physicists who made up a stunning 64% (!) of their physics citations.
With the Cold War looming, the US brought over ~1,600 scientists through Operation Paperclip and the Soviets ~2,500 through Operation Osoaviakhim.
Perhaps an underrated element in the fall of the Soviet Union is how we absorbed most of their top scientific talent as faith in the regime was starting to falter.
— Caleb Watney (@calebwatney) July 6, 2020
A great 1990 NYT article on it here:https://t.co/NXBldbgoV0 pic.twitter.com/TEgytTYsJv
https://t.co/i0QMZeQaEa
Using the Nobel Prize in Physics as a rough proxy, American scientists were involved in only three of the thirty prizes awarded between 1901 to 1933.
And a huge share of these Nobel laureates have been either first- or second-generation immigrants from these three waves.
We were unquestionably the best location for scientific research and so most inventors/promising academics wanted to come here.
1) US immigration restrictions are growing more burdensome
2) There are better opportunities to contribute to cutting-edge research at home
https://t.co/EYSUhofYeO
Today we grudgingly let the most talented individuals apply to live here; we do not actively recruit them.
The main job of immigration agents seems to be “avoid letting in terrorists” rather than “maximize the growth potential of the United States.”
We are the R&D lab for the world and we should act like it.
https://t.co/jwGI6exill
More from Tech
What an amazing presentation! Loved how @ravidharamshi77 brilliantly started off with global macros & capital markets, and then gradually migrated to Indian equities, summing up his thesis for a bull market case!
@MadhusudanKela @VQIndia @sameervq
My key learnings: ⬇️⬇️⬇️
First, the BEAR case:
1. Bitcoin has surpassed all the bubbles of the last 45 years in extent that includes Gold, Nikkei, dotcom bubble.
2. Cyclically adjusted PE ratio for S&P 500 almost at 1929 (The Great Depression) peaks, at highest levels except the dotcom crisis in 2000.
3. World market cap to GDP ratio presently at 124% vs last 5 years average of 92% & last 10 years average of 85%.
US market cap to GDP nearing 200%.
4. Bitcoin (as an asset class) has moved to the 3rd place in terms of price gains in preceding 3 years before peak (900%); 1st was Tulip bubble in 17th century (rising 2200%).
@MadhusudanKela @VQIndia @sameervq
My key learnings: ⬇️⬇️⬇️
Bubble or Bull Market? Join us for a short presentation and candid one on one on 27th Jan, 4pm with Shri \u2066@MadhusudanKela\u2069. \u2066@VQIndia\u2069 \u2066@sameervq\u2069 #bubbleorbullmarket pic.twitter.com/LBvlBrz6mS
— Ravi Dharamshi (@ravidharamshi77) January 24, 2021
First, the BEAR case:
1. Bitcoin has surpassed all the bubbles of the last 45 years in extent that includes Gold, Nikkei, dotcom bubble.
2. Cyclically adjusted PE ratio for S&P 500 almost at 1929 (The Great Depression) peaks, at highest levels except the dotcom crisis in 2000.
3. World market cap to GDP ratio presently at 124% vs last 5 years average of 92% & last 10 years average of 85%.
US market cap to GDP nearing 200%.
4. Bitcoin (as an asset class) has moved to the 3rd place in terms of price gains in preceding 3 years before peak (900%); 1st was Tulip bubble in 17th century (rising 2200%).