Many people still don't truly understand: why the most hardcore innovations in the world have almost all gone to the United States, and why the U.S. stock market has been able to rise for over a hundred years, getting stronger and stronger. Most people's understanding stops at superficial notions like 'American companies are impressive' and 'American technology is strong.' The fundamental reason is not the companies themselves, but the system itself. To be precise, it's a super moat that other countries do not have and cannot replicate: the global talent siphoning capability. In other countries, the talent pool is limited to their own population; but the U.S. has directly expanded its talent pool to the global population. Others are selecting the smartest people locally, while the U.S. is selecting the smartest people globally. This gap is structural and overwhelming. Why do the world's geniuses ultimately flow to the U.S.? Because there is the strongest research system in the world, the densest top universities, the most mature entrepreneurial environment, the fiercest incentive mechanisms, the most tolerant trial-and-error soil, and the deepest capital market. Simply put, in the U.S., 'smartness' can quickly be turned into 'results,' and results can immediately be capitalized. Thus, the U.S. has formed a completely positive feedback loop: Talent → Technology → Enterprises → Profits → Stock Prices → More Talent. This feedback loop is spinning faster and faster, and the harder it turns, the more difficult it becomes to catch up; the U.S. itself cannot meet its own demand for talent, but that's okay, they directly supplement from the global pool. This is the core logic behind the U.S. stock market being able to emerge from a century-long bull market: you are not buying a few companies; you are buying the long-term compound returns brought about by the continuous innovation of the strongest group of people in the world. Investing in U.S. stocks, in essence, means you are reaping the dividends of the smartest 0.1% of people globally. Such things, other countries cannot learn, no matter how hard they try. $BTC $BNB
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