• Are markets not the best structure for deep innovation?

  • Many of the most revolutionary innovations were created by governments

  • Market are better at solving and finding unknown whats

    • VC is not going to put money in revolutionary, but uncertain long term project
      • VC looks for (relatively) short-term opportunities to exploit
    • Nuclear fusion and other important innovations require investment too large on too long time scales (for the market to be involved)
    • Markets are better able to explore different options at the edges (unknown), and find the best solution
  • Central organizations better to solve known whats (that require large investments and long time horizons)

    • Examples of internet, the Manhattan Project, NASA

Created on: 2021-04-26 Inspired by: Daniel Schmachtenberger Link: https://www.youtube.com/watch?v=YPJug0s2u4w&t=5966s Related: economics | Book - Doughnut Economics by Kate Raworth