I think this may be missing the difference in differential risk.

If I live in a place with constant uncertainty, taking one uncertain bet over another makes little difference.

If I instead live in a place of relative historic stability with (real or perceived) short-term uncertainty, it makes a lot of sense to wait until the relative stability has returned.

Entrepreneurs in Ukraine have other options. Instead of building a restaurant or factory they could sit on their money for a few years until the war ends.

And do you think that is an equal differential in risk compared to someone in the US doing the same? I can think of at least a handful of reasons why that may not be the case.

If you had a sane administration that actually had anything resembling of a plan to bring back US manufacturing, then it would be a different story.

Betting on insanity is not "courageous risk taking"

>> Not willing to take risks to build something great.

8 of the top 10 companies in the world we're started in America in the last fifty years. If you were try to guess where the next world beating companies are going to come from I am sure some will come from China, Europe, South America, but still most from the US. The US still puts the world to shame in putting capital at risk on new ideas.

Building a factory for billions isn't the same thing as opening a restaurant.