4 ms·
Thiel-Schmidt Brawl
- tagawa 14y ago"In places like China, India, Africa, Latin America, there's zero need for innovation. All they need to do is copy things that work. But the part of the world where technology is really necessary for things to get better is the developed world, U.S., Western Europe, Japan." - Peter Thiel What utter rubbish.
- tagawa 14y agoI'm confused by the downvotes without comment. Have I misunderstood something? Or was he being sarcastic and I missed it?
- marshallp 14y ago(I didn't downvote) His point is that economic growth in developed countries requires advances in technology (to get beyond the 0-4% gdp growth) while in developing countries copying can do (that's why china has 10% gdp growth). i.e. the average chinese can earn a living just by importing technologies (in the short run), while an american need to invent new technology to earn a living.