I see it personally. People who are awesome. Their FAANG desperately wants to get them to come to the US. They can't for years. Then they give up and open an office in India or Eastern Europe and the US loses hundreds of jobs and great talent.
This teaches such companies to go overseas. And once they have taken on the burden of doing so expanding is much easier there than here.
It's amazing to see a country that has everything and every advantage throw it all away. But I guess Europe did the same thing a century ago.