Government Quote by Glenn Kelman
“The really basic stuff that fuels 30-year job booms almost always comes from government research, stuff like biotech, the transistor, the Internet. The idea that private capital can handle the early spade work is a joke.”
About This Quote
Source Speech: Interview on technology policy, 2022
Government research often creates foundational breakthroughs that private firms later commercialize, driving long‑term economic growth.
In simple terms: Public research fuels major industries.
Key Takeaway
Support public R&D funding.
Themes
innovation
economics
public policy
Mood
optimistic
critical
Type
analytical
informative
When to use this quote
- venture capital
- startup funding
- policy making
- industry strategy
Key Concepts
technology transfer
market failure
long‑term investment
Questions to Reflect On
- How should governments prioritize research areas?
- What incentives can align private and public goals?
A Different Perspective
Private capital alone cannot bear high‑risk early research costs.
