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Myth or reality? The world vs sf and the valley?

I'll go with the world.

history has been with the valley (so far ...)

Money has been with the valley.

Microsoft has brilliant engineers and is in Seattle, for example.

That's interesting topic

What about Tencent? and things like HK's HFT

What about competitive security? here's huge variety in countries e.g 2 very strong teams are Poland based