Thanks for reading.

But I don't buy the Republican libertarian talking point of the private sector as better allocator of capital. The private sector is just as prolific a misallocator of capital as government, while we owe most technological innovations to the public sector: GPS, mobile phones, the internet, radar, nuclear power, universities' government-funded drug research.

Watch George Friedman's video about how everything in the iPhone is Pentagon-developed tech. Also, read Marcia Angell's 2004 NYRB article The Truth About the Drug Companies to see how this socialism for Big Pharma system works.

As a capitalist who's a partner in a small VC firm, I have to make it my business to know how the system works.

https://medium.com/age-of-awareness/youre-not-a-capitalist-until-84870880fbf0