[knuththetruth]

It only works when you're talking massive, government-backed support for basic scientific and technological research. The tech industry likes to lean on this narrative, but the reality is they just exploit the gains of basic research and are probably reaching the limit of what can be drawn from the last time this happened (i.e. when governments created the internet). This is why you see tech shifting into so much rent-seeking nonsense and bizarre financialization strategies that mirror Wall St/the banking industry. They're scraping the bottom of the government-financed research well and don't have much actual ability to create fundamental technological innovation themselves.

The good news is all we have to do is shift back to massive government investments in basic research to course correct and compete with entities like China(who seem to have a clearer picture of how Capitalism actually works in practice).