Tech has stolen the market cap crown from the oil tycoons. This change is perfectly natural according to a panel of regional experts last month at Innovation Weekend in Tokyo, but the Silicon Valley kingdom is also teetering on being overthrown.
“The day of America as the single IT leader is over,” writes founding partner Takeshi Ebihara of Rebright Partners on his blog. Citing PricewaterhouseCoopers’ MoneyTree report, Takeshi emphasises that the amount of funding for startups in China grew eightfold in just two years to US$37 billion in 2015.
