Hey all you smarties (and you know who you are), how about chewing on this for a while? There was a time when we built things and got things done. We did it as a nation, with national pride and national inclusion. It felt like we were a real country. What happened?
Steve Jobs was the ultimate entrepreneur. As Walter Isaacson noted in his biography, Jobs revolutionized seven industries and created the most valuable company in the world. We revere people like him, because they help create the future.
However, they do not do it alone. One fact that often gets lost is that the basic technologies that Apple AAPL +0.74% products are built on (and those of all tech firms), from the chips, to the Internet, to GPS, to the software protocols, were all supported or wholly developed by government programs.
As Bruce Upbin pointed out in a recent article in Forbes, while we like to think of daring entrepreneurs and venture capitalists taking all the risk, they are more akin to the “last mile,” building on top of technological infrastructure built by the public sector. Government programs are often a crucial ingredient in the growth of the private economy.
Full article here.