If we can't clearly explain why innovation is ultimately a moral necessity, the entire tech industry will eventually follow in Boston's footsteps—first taxed, then eroded, and finally drained.

Back in 2004. At that time, if you asked a top-tier tech investor where the world's leading software companies were clustered, they would give you two names: Boston and San Francisco.

Now? Everything has turned upside down. In the past twenty years, San Francisco has created $14 trillion in enterprise value. And Boston? $100 billion. This number says it all.

Back then, if you told that investor that New York—famous for "cocaine and gray-striped suits" financial brilliance—would steal Boston's status as a regional tech hub, they would surely think you were crazy.

So, what exactly went wrong with Boston? That’s a question worth digging into.

From a hardware perspective, this city lacks nothing. Harvard and MIT, two of the world's top universities, are right here. The cradle of well-known startup incubator Y Combinator is also here. Scenic beauty? This city is one of the most beautiful in the United States. Talent? Need I say more—Mark Zuckerberg studied here, Stripe’s founders studied here, Cursor’s founder, Dropbox’s founders, a bunch of top talents all hail from this place. Just based on these conditions, Boston should be a permanent beacon of technological innovation.

But reality is so ironic. No matter how good the conditions are, if they can't inspire genuine innovative spirit, if they can't make entrepreneurs feel that this is a moral mission rather than just profit-seeking, then all efforts are in vain. When other places better understand how to protect, support, and encourage innovators, Boston’s advantages become history.