So to solve this problem you need billions to burn on gambles. I guess that's how we ended up with VC's.
How do you reconcile that with the fact that Western society has invented, improved, and supplied many of the things we lament that other countries don't have (and those countries also lament it - it's not just our own Stockholm Syndrome).
Are there specific historical examples of this that come to mind?
But I don't know of anything nearly as extreme as destroying an entire invention. Those tend to stick around.
There are a number of counterexamples though. Henry Ford, etc.
It’s rather hard to imagine even something like that (and it’s pretty limited in scope compared to the grand conspiracy above) working today, though; the EC would definitely stomp on it, and even the sleepy FTC would probably bestir itself for something so blatant.
In reality, the biggest problem was they had no incentive to invest in new lighting technology research, although they had the money to do so. It takes a lot of effort to develop a new technology, and significantly more to make it practical and affordable.
I think the story of the development of the blue LED which led to modern LED lighting is more illustrative of the real obstacles of technological development.
Companies/managers don't want to invest in R&D bc it’s too uncertain and they typically are more interested in the short term.
And it’s hard for someone without deep technical knowledge to identify a realistic worthwhile technical idea from a bad one. So they focus on what they can understand and what they can quantify ().
And even technical people can fail to properly evaluate ideas that are even slightly outside their area of expertise (or even sometimes the ones that are within it )
Then there would be a violent revolution which wrestles it out of their hands. The benefits of such a technology would be immediately obvious to the layman and he would not allow it to be hoarded by a select few.
The invention would never see the light of day. If someone were to invent Star Trek replicators, they'd be buried along with their invention. Best Case it would be quickly captured by the ownership class and only be allowed to be used by officially blessed manufacturing companies, and not any individuals. They will have learned their lesson from AI and what it does to scarcity. Western [correction: all of] society is hopelessly locked into and dependent on manufacturing scarcity, and the idea that people have to pay for things. The wealthy and powerful will never allow free abundance of physical goods in the hands of the little people.