It's a good environment for doing business. There is plenty of capital available, and the laws are usually reasonable. It's a large country that's sufficiently centralized that you don't have to localize everything for each state. And it's a stable environment that has mostly been isolated from the rest of the world and not touched by war in over 150 years.

As a drawback, the system really favors those who own over those who work. Even in places like the Silicon Valley, how much of the wealth goes to those who innovate and how much goes to those who fund the innovations? And how much goes to local property owners who just happened to be in the right place at the right time?

Americans don't study STEM as often as people in other developed countries, because they correctly see where the money is. There are many top STEM schools, but even they largely consist of foreign talent teaching foreign talent.

If the US went the way of Europe and stopped attracting foreign talent, I have no idea what would happen to tech innovation. The innovators and the innovations would still be there, but maybe there would not be as many people capable of taking advantage of the innovations.