there used to be a "Silicon Valley" that was home to all these tech booms. now, "smart kids" supposedly want to do seemingly stupid stuff like make the "next tik tok". During "dot-com 1.0", a bunch of pundits and consultants said "bits, not atoms" - only deal with "digital", not "real world" tech, software not hardware. Of course they were right in the short term (Facebook, Google, Amazon, Netflix, etc.). But wrong in the long term.
Probably more going on than a "americans are too fat and lazy for the factory to be productive" story since this industry and related ones are considered "strategic".