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The study, which looked at the behavior of people who had registered at least two patents from 1975 to 2005, focused on Michigan, which in 1985 reversed its longstanding prohibition of non-compete agreements. The authors found that after Michigan changed the rules, the rate of emigration among inventors was twice as a high as it was in states where non-competes remained illegal. Even worse for Michigan, its most talented inventors were also the most likely to flee. "Firms are going to be willing to relocate someone who is really good, as opposed to someone who is average," says Lee Fleming. For the inventors, it makes sense to take a risk on a place such as California, where they have more freedom. "If the job they relocate for doesn't work out, then they can walk across the street because there are no non-competes."
The biggest challenge however is one that both Apple and Google face: Only a small fraction of the 10 million or so retail outlets in the U.S.–220,000 at last count–have checkout readers that can accept payments from either system. Both wallets use a radio technology called Near Field Communication to send payment, and it's expected to take years for most stores to be upgraded. What's at play? The big tech companies and carriers seem convinced that our phones will eventually replace our wallets. For carriers, that could make mobile wallet technology table stakes over the next few years as they compete for consumers.