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Why Private Capital Is Bad for the Future of Tech
Quantum computing is going the way of other troubled sectors
When any societal good depends upon private investment not just for its implementation, but also its research and development, history has shown that the outcome tends to be negative, both in the long and short terms.
Quantum computing is a computing device that takes advantage of principles of quantum mechanics to calculate far quicker than common digital computers. Its progression so far remains heavily dependent upon private equity, suggesting that its capacity to “change the world” will only come to fruition to the benefit of a very small segment of society. In other words, it might change the world, but how?
One can look at the automotive and streetcar industries in the United States as an early example of the perils of private equity’s control over progress. It provides a useful comparison to the current state of quantum computing, which we return to following.
Private capital derailed American public transportation
Rather than gravitating toward robust public transportation — an ostensibly lower-return commodity — instead focused on developing the personal automobile and its surrounding…
