There are definitely political - and ultimately, military-industrial - reasons for this. The UK is deeply, deeply embedded in the Anglo-centric 5-eyes criminal superstructure, and plays a huge part in the subversion of human rights at immense scale around the world, that this criminal entity commits every second of the day.

The spook factor bleeds into every technological advancement which occurs in the UK, from GCHQ outwards, like a kraken with deep, deep tentacles.

I've worked with multiple UK-based startups which, as soon as they start to gain traction in international waters/markets, immediately becomes the target for GCHQ embedding/plants. This kills the startup.

Until the British people start prosecuting their war criminals and seeks justice for the immense human rights abuses that occur, every millisecond of every day, as a result of their out of control military-industrial oppression apparatus, there is simply no hope for UK technological industry.

The world sees this, even if the people of the UK do not - and routes around it, accordingly.

Nobody really wants to work with UK-based technology groups, knowing that they are liable for immediate corruption the moment their technology becomes relevant to, say, the people of Brazil, or Africa, or China.