Singapore Urges U.S. to Accept China's Rise, Spare Other Nations

Re:Singapore Urges U.S. to Accept China's Rise, Spare Other ... by nosianu on Thursday May 16, 2019 @06:16AM (#19927645)

You may be mistaken about the source of a lot of "deep innovation". I know I was, when I was younger. Here is a nice example that helped shatter some of the myths I myself believed, in this case it was that Silicon Valley was the product of free enterprise:

https://youtu.be/ZTC_RxWN_xo (Secret History of Silicon Valley - Computer History Museum, Mountain View)

In reality capitalism only took over after massive (debt based!) spending by (US) government during WWII. The risky stuff doesn't happen in companies. Even things like e-cars and rockets, see Elon Musk and his companies as the most prominent examples, didn't invent any of the basics. They just take well-established concepts.

It's not either or, it's specialization: The low-probability-of-success stuff for larger society (government mostly, at this point), and when there is something to build on the more focused business people and entrepreneurs who want to see an ROI are better at executing from there on.

But, back to the comment you replied to, basic research, the risky stuff, is better off being open and available.

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Re:Singapore Urges U.S. to Accept China's Rise, Spare Other ... by blago on Thursday May 16, 2019 @09:21AM (#19928751)

Define "deep innovation". Are you saying that private enterprise is only capable of "shallow innovation"?

If so, do you think that the world will do just fine if we removed large financial rewards for "shallow innovation" like the smartphone, new drugs, medical devices, software, etc?

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