‘It’s Time to Build’

Marc Andreessen, on the opportunity this crisis presents:

And we need to separate the imperative to build these things from ideology and politics. Both sides need to contribute to building.

The right starts out in a more natural, albeit compromised, place. The right is generally pro production, but is too often corrupted by forces that hold back market-based competition and the building of things. The right must fight hard against crony capitalism, regulatory capture, ossified oligopolies, risk-inducing offshoring, and investor-friendly buybacks in lieu of customer-friendly (and, over a longer period of time, even more investor-friendly) innovation.

It’s time for full-throated, unapologetic, uncompromised political support from the right for aggressive investment in new products, in new industries, in new factories, in new science, in big leaps forward.

The left starts out with a stronger bias toward the public sector in many of these areas. To which I say, prove the superior model! Demonstrate that the public sector can build better hospitals, better schools, better transportation, better cities, better housing. Stop trying to protect the old, the entrenched, the irrelevant; commit the public sector fully to the future. Milton Friedman once said the great public sector mistake is to judge policies and programs by their intentions rather than their results. Instead of taking that as an insult, take it as a challenge?—?build new things and show the results!

I find this essay inspiring, and I’m baffled?—?but unsurprised?—?that anyone considers it controversial. (Even better are the folks asking who this Andreessen guy is to be telling anyone to build anything. What does some rich VC know about building new things, right?)

Friday, 24 April 2020

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