This is more complicated than you paint it. Countries like UAE have enough capital to throw at things and little-to-no taxation, yet they don't attract as much talent as they would like to.

Preexisting centers of excellence like Silicon Valley are attractive for young talented people precisely because a lot of older talented people are already there. The same reason why a young talented painter in 15th century would prefer Florence to some rich, but boring place elsewhere.

You can only really do a meaningful work in a "heavy" field by tightly cooperating with others, and physical proximity still matters.