SolarCross wrote:This is not true at all
I never said the private sector doesn't innovate (I work in tech, and the private sector, Of course I see innovation all the time). I said the private sector doesn't innovate on
long pole technologies. That is, things that need a heavy amount of upfront investment that will not see profit in very long time horizon (10 years +). Like, GPS, fracking, solar, the internet, rocketry/space, etc.
The private sectors time horizon is usually more on the 2-5 year window. For example, investors never invest in startups unless they can be profitable within 2-3 years. Large private companies will often have larger windows too, but it's rarely 10+ year windows on tech development. Private companies will only go on a long pole tech, if there are incremental steps in which they can make profit. This isn't always possible with many innovations (like the one's I mentioned). They often rely in the government to do the initial path clearing on tech. This has historically held true for many technologies. Earth changing technologies.
The US government in particular (but also European, Japanese, Korean, and now Chinese governments too) have been critical to seeding all sorts of industries, this is an indisputable fact people like to ignore, intentionally.
I can think of 11780 reasons Trump shouldn't be president ever again.