David Sacks: Silicon Valley Was Built On Permissionless Innovation “ The thing that really makes Silicon Valley special is this concept of permissionless innovation.” “Since Hewlett and Packard 85 years ago started building Silicon Valley, the idea has always been that just a couple of founders can have a great idea, start their company, they get some angel investors to write a check for seed capital.” “Those investors think they're probably going to lose their money, but they figure there's a shot.” “It could be the two guys in their garage, or it could be the college dropout in the dorm room, and they don't need to go to Washington to get permission for their idea, right? It's permissionless innovation.” “That's what has made Silicon Valley the crown jewel of the world.” “It's why so many of the heads of state who are here are always asking, ‘How do we create our own Silicon Valley?’” “That was not the direction we were on when President Trump came into office.” “The new 300 pages of regulations concerning AI the Biden administration left us with would've changed this environment of permissionless innovation to an environment of you have to go to Washington to get approval for your idea.” “And I think that President Trump really corrected that.” “And since then, we've been implementing his AI action plan, which is all about pro-innovation, pro infrastructure, pro-energy, and pro-export.” “So it's been a total change. And I think just in the past year you've seen the results of that.”