On one hand, you limit (beneficial) mutation.
On the other hand, you limit (harmful) mutation.
An organization usually doesn't scale past a certain size without stabilizing its ability to copy itself. For better and worse.
also it is good that corps and governments try to innovate and spend money on it.
Can it be more efficient?
Always(!)
Can it be more focused?
Sure.
But a big innovation takes a lot of factors to be well balanced and that alone is often not guaranteed nor possible given the circumstances. You just might not find the kind of devs it really needs (and not even knowing about it). So you hire the best thats available but it won't work...
Bad luck. At least you tried.
I see it that way. Whether vcs pump millions into 100 startups so that one succeeds or corps pump millions into 100 projects... Who cares? The money is not burned. It hopefully ends in my pocket
People spending their lives pushing a boulder up a hill.
People paying taxes to pay for people pushing boulders up hills.
The problem is wasting human life on wildly inefficient endeavors.
because that's what you will get!
I have worked in tiny very early stage startups and old dinosaur companies. What comes across loud and clear is that early stage companies could use a bit more organization and dinosaurs could cut huge portions of what they “do” and then both would be in a similar situation to get things done reasonably well.
The bulk of the waste is an attempt to get people who don’t know what they’re doing into a position of getting things done. Sometimes it works.