Can America Continue Its Bull Run?

In this episode of Culture and Code, Rei and Tara explore one of the most consequential questions facing the tech industry: whether America can maintain its technological dominance in an era of geopolitical turbulence. Drawing from Tara's analysis of Nvidia's first-ever Washington D.C. summit, they examine historical patterns of technological revolution, the critical role of rare earth minerals in the AI race, and why the relationship between the U.S. and China will define the next 70 years of innovation. Through an anthropological lens spanning 130 years of economic history, they reveal why we may already be living in a "bridge period", an uncomfortable era of chaos that precedes the next great technological leap.

Key Takeaways

The Bridge Period Hypothesis

Historical pattern: Major technological revolutions (35-40 years of growth) are separated by bridge periods (30-40 years) of intense social, political, and economic turbulence
First Industrial Revolution (1830-1870): European dominance, followed by U.S. agricultural economy
Second Industrial Revolution (1870-1915): U.S. emergence through steam engines, railroads, and infrastructure
Bridge Period 1 (1915-1950): Two World Wars, extreme turbulence, but also massive technological invention (transistors, foundational science)
Information Age Boom (1950-2020s): America's GDP per capita skyrocketed for 70 years
Bridge Period 2 (2020s-?): We are likely already in the next bridge period, characterized by AI innovation alongside geopolitical tension

The Rare Earth Reality

Rare earth minerals aren't rare. They're just difficult and environmentally toxic to refine
China dominates global rare earth supply: 40% of reserves, 69% of mining, 90% of refining
U.S. position: Only 1.6% of reserves and less than 5% of refining capacity
The U.S. relinquished manufacturing starting in the 1980s, focusing on the "knowledge economy"
China made a strategic sacrifice in the 1990s: reduced environmental regulations to monopolize rare earth refining over 30 years
This creates a fundamental asymmetry: U.S. owns the "top of the stack" (software, IP, cloud), China owns the "bottom" (manufacturing, materials, processing)

The New Apollo Moment

Nvidia's D.C. summit marked a clear pivot: announcing AI factories for government, supercomputers, and quantum initiatives
Jensen Huang explicitly framed this as an "Apollo moment"—echoing the 1960s Space Race against the Soviet Union
Unlike the Cold War, today's competition is more complex: the U.S. needs China's manufacturing capabilities
The next 5-10 years will be "absolutely critical" in determining who leads for the next 70 years
We're witnessing not just a tech race, but a simultaneous trade war and battle for technological dominance

Navigating Turbulence

The bridge period mindset: "wartime CEO" versus "peacetime CEO"
For investors and technologists: stay nimble, understand where the world is heading, identify what technologies will be needed
Despite the chaos, there's still work to be done and business to be built
Historical lesson: the most uncomfortable periods often yield the greatest technological breakthroughs

The Cultural Paradox

Tara's "underrated opinion": Americans and Chinese are surprisingly similar in personality- outgoing, with complementary humor and ways of being
This stands in contrast to the structural similarities between Scandinavians and Japanese (formality, tradition, structure)
The people-level compatibility suggests potential for collaboration despite political tensions
Decoupling is unlikely: interdependence is too deep, especially given manufacturing realities