This article is worth a careful reading. If you care about American Innovation, or UK Innovation for that matter, you’d better realize something; our governments are currently committing economic suicide. They are doing this by not investing in deep theoretical science and in infrastructure.
Small “i” innovation is something we do well in the USA, but we can’t live on that kind of innovation forever. We need to create new markets and build new jobs based on new science and technology, new materials, and new infrastructure.
This means countries like China, who are investing, are paving the way for their future success. I wish them well, but also wish we’d remain competitive.
Big companies don’t do deep research for the most part. They either buy it, or, they wait until the commercial opportunities are closer to hand. Solo entrepreneurs don’t have the resources to create businesses from technology they invent. They take more risk than big companies, but again, they look for platforms to build on. Apple was not created from scratch. It was built on existing technology that was combined in a new and creative way. The chips were there first.
We’re not building platforms right now. The USA investment in NASA for instance has had huge payoffs, and, they’ve taken years to realize. NASA is a great example of the government paving the way for private sector success. I believe in the market, but I also believe the market is not interested in big risk or long term investments.
Read the article and tell me I’m wrong, and if I’m wrong, how I’m wrong. Investment in innovation happened at a mediocre level during the Obama era. It would appear investment is going down further with the current administration.
This is not good.