Grove knows how to build a near-monopoly in a single capital-intensive industry with giant returns to scale (and occasional government favors). I wouldn't necessarily trust him with tax policy, trade policy, international relations, or anything related to small or service businesses. I would not want any more of the economy dominated by Intel-like enterprises (funded by investments from his giant government-run 'scaling fund').

And, if you really want jobs in a particular favored strategic industry, shouldn't you penalize scale -- force multiple redundant companies to operate below optimal scale?

Sure, you're penalizing the rest of the economy, burning more resources than necessary for a given level of production, but you do get more people employed in your chosen industry. Just like Grove wants to penalize Asia and world living standards, to reserve for domestic manufacturers a protected market. No, thanks.