> "Narrow" given there is a vast global economy in need of hard engineering innovations - agriculture, mining, construction, energy, chemicals, biotech, manufac

> "Narrow" given there is a vast global economy in need of hard engineering innovations - agriculture, mining, construction, energy, chemicals, biotech, manufacturing, machinery, vehicles, aerospace, science/discovery, environment/planet, telecomm, computer hardware, robotics I think he makes a very important point about the role of the state. These hardcore engineering innovations and definitely cool and are interesting problems to work on, but I don't think the economics of it work out for startup companies given the amount of R&D it requires and probably lack of clear path of monetization. It reminds me of a fact I recently saw, the largest patent holder in China isn't Huawei or Tencent or any of the large tech companies, its the State National Grid or something like that, a state entity. That being said, I don't think its necessarily good or bad, its just the way the ecosystem works. Even with the hard engineering innovations, in my opinion oftentimes the application/monetization of it into the form of a working product is still non-trivial, and that's the value captured by startups, so both are necessary in my view