My take on this article is this: it's short-sided to put so much money into one particular sector, and to encourage others to pull them out of longer-to-realize-profit sectors. That the end result is a diminishing return in the long run for the country, or region as a whole. This being caused by a lack of "long-term tech investment."
However, the striking problem with the statement is that it is not backed up by data. How much money that would've been invested in "core" technology (technology used to enable other technology), pharmaceutical, or other investments was instead funneled for short-term gains into social start-ups? I'd understand that if one just read tech news, one might think all investment goes to SV software firms these days, but I have a hard time believing that's a fact and not just a matter of media selection.
However, the striking problem with the statement is that it is not backed up by data. How much money that would've been invested in "core" technology (technology used to enable other technology), pharmaceutical, or other investments was instead funneled for short-term gains into social start-ups? I'd understand that if one just read tech news, one might think all investment goes to SV software firms these days, but I have a hard time believing that's a fact and not just a matter of media selection.