Chapter
The Benefits of Scale in Business and Technological Progress
58:32 - 1:05:40 (07:08)
The ability of businesses to accumulate large pools of capital and take on multi-billion dollar projects has led to significant progress and technological advancement in our society that wouldn't have been possible otherwise.
Clips
The speaker argues that capitalism plays a fundamental role in technological progress by providing businesses with the necessary resources for research and development, allowing them to take on high-risk bets that benefit society as a whole.
58:32 - 1:05:40 (07:08)
Capitalism
Summary
The speaker argues that capitalism plays a fundamental role in technological progress by providing businesses with the necessary resources for research and development, allowing them to take on high-risk bets that benefit society as a whole. While acknowledging the hard work required for innovation, the speaker also highlights the importance of scale and centralized distribution.