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These employees are well paid in terms of both salary and stock options and are much more likely to jump to another digital giant or a nearby startup than to a company outside the region.
Because insiders and venture capitalists closely hold the stock of many of these companies, wealth tends to stay within any given region.
Yet, all companies and countries—including the US and China—have a vested interest in a winner-take- outcome.
Alibaba, which manages the world’s largest money market fund, is assuming a similar role in financial services.
The creation phase of the cycle is likely to occur further in the future. Will the two centers of gravity hold, or will the gains be more widely distributed?
By default, the two gold coasts have a built-in edge: they have accumulated massive value, wealth, and power by taking advantage of the winner-take-all economics that govern many digital business models.
Executives and public officials alike can play active roles in shaping this future by thinking about three major uncertainties and the options available to address each of them: Winner-take-all economics favored the companies in the US and China that were able to take advantage of large domestic markets to achieve scale and to surround themselves with rich ecosystems of startups, suppliers, and customers.
Thus, companies on the gold coasts of the US and China have essentially won in the arenas of online search, social media, and e-commerce.
The unicorns are repeating this pattern of concentration.