Except that it has no 'headquarters' and all the important decisions, revenues, hiring, marketing, PR, taxation is happening elsewhere. Outside of 'Element AI' - which has yet to prove itself - we have a lot of work to create an actual industrial base.

This is a great point. Canada has a long history of developing branch plants to the US and selling mid-sized companies rather than growing them.

I mean, there are worse things. It took a long time before the country realized that inward flowing FDI was not a bad thing.

On the other hand, we live in complex times and Silicon Valley companies aren't making a great reputation for themselves as trustworthy partners.

How is it any different than Hollywood becoming a centerpoint for making movies, even though most decisions are made in New York? At least, that was how the first several decades of Hollywood worked. And still, some studios or their executives who approve projects are headquartered actually in New York.

How so? A remote research lab is often time, a trophy, but usually not a powerhouse. The rule of thumb is still the same, you need to get close to the center, the center of decisions, to get your ideas and plans implemented.