Investing in Innovation

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Invest In InnovationIf you take the long view of things, you will realize that we are living in history’s greatest era. Wars are less frequent. Life expectancy has doubled from less than a century ago. More people are going to school and overall, the World is better than it has ever been.

But we can’t stand still and focus on only enjoying this era. We need to make it better for the next generation. We need to leave our World better than it was when we arrived. If we want to continue progress, we need to persistently pursue the same kind of breakthroughs achieved by individuals such as: Nikola Tesla, Thomas Edison, Albert Einstein, Isaac Newton, Jonas Salk, Neils Bohr, Charles Darwin, Michael Faraday, Henry Ford, John D Rockefeller, beforeAfterAndrew Carnegie and much more.

I believe the idea is simple: Innovation helps make the World better.

If we want to make the World better, we need to innovate more. However, we need to focus on what innovations give back to society in a way that has the most impact. We need to look for opportunities with the largest returns.

The Government can’t do much to drive innovation. It’s too large and too slow. It also, can’t allocate funds towards innovation. If it allocated a lot of funds towards innovation it may be seen as “discriminating” and investing in innovation is very risky, with no guarantee of rewards.

FoodForThoughtThe chances of failure when trying to discover or invent something are much, much higher than success. This is where individuals can allocate their
philanthropic funds. When a certain invention or discovery proves to be successful, I believe, this is when the Government can increase the scale in a way where this innovation has the most impact. This will help more people live better lives and create more jobs.

We should want to give our wealth back to society. We need to fill a function in which Government can’t. We need to take risks by investing in research and development for eradicating diseases, increasing food production without the use of harmful pesticides, decreasing harmful gasses in the atmosphere, increasing cyber security and much more. Innovation and philanthropy will give the next generation a chance to live in “history’s greatest era”.

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