Britain, however, has ended up specializing in the ones you don't see as much of: defense aerospace, making drive shafts for cars, pills and drugs, designing chips that go into 94 percent of the world's mobile phones.
“In California, we have some of the strongest consumer protection laws in the country. While it is easy to conceive of innovation and regulation as mutually exclusive, California is proof that we can do both. We can innovate responsibly.”