Biden wants to expand tech hubs in US

[LateToCult 41,831]

The Biden administration on Monday designated 31 technology hubs spread acorss 32 states and Puerto Rico to help spur innovation and create jobs in the industries that are concentrated in these areas.

“We’re going to invest in critical technologies like biotechnology, critical materials, quantum computing, advanced manufacturing — so the U.S. will lead the world again in innovation across the board,” President Joe Biden said. “I truly believe this country is about to take off.”
…

The $500 million came from a $10 billion authorization in last year’s CHIPS and Science Act to stimulate investments in new technologies such as artificial intelligence, quantum computing and biotech. It’s an attempt to expand tech investment that is largely concentrated around a few U.S. cities — Austin, Texas; Boston; New York; San Francisco; and Seattle — to the rest of the country.

https://abcnews.go.com/amp/US/wireStory/president-joe-biden-naming-tech-hubs-32-states-104216200

Will be very fascinating if this actually works. Every city in this country wants to be a “tech city” but the five cities mentioned all have a chokehold on the industry. You need a large pool of talent, infrastructure for fundraising, an ambitious start-up culture, etc. AI is gonna be (and some would say already is) the next big thing in tech and San Francisco/San Jose have been gearing to pounce on that technology to hold their title as THE tech hub of the US. 

[Dennis 8,391]

Me when I see all the billion figures thrown around
 

 

[AsleepOnTheCeiling 6,940]

Invest in education. Not enough smart people to drive innovation and the ones that have the potential can't afford to go to college. Tax breaks for corporations isn't going to be enough. 

[Ayesha Erotica 1,924]

6 hours ago, LateToCult said:

You need a large pool of talent, infrastructure for fundraising, an ambitious start-up culture, etc. AI is gonna be (and some would say already is) the next big thing in tech and San Francisco/San Jose have been gearing to pounce on that technology to hold their title as THE tech hub of the US. 

I doubt that the US will be the world-leader in future technology in the long-term, maybe for the next 10 years but not much longer because China is taking over and making bigger progress and the US desperately tries to slow down China's rise by banning chips exports, which leads to China developping their own chips and the Chinese will make them better and cheaper for the world markets in the long-run, they have a whole techno eco-system around it.

China has larger pools of talent, a better infrastructure to support its technology hubs and they have clusters of mega-cities with 30 million+ people. It is all in the progress. US will be #2 which still is better than any other country except China.

Also the American start-up culture isn't as beneficial as it seems, once they grow bigger they are often being bought by a few monopolists (Google, Zuckerberg, etc.) and then there is no real competition on the American market, just some techno monster-monopolists ruling the market. This doesn't lead to innovation, it leads to stagnation and charging higher prices for products that could be much cheaper. [I'd compare it to Medicaments in India: they are so much cheaper than in the US because of US pharma monopolies, whereas Indian gov wants medicaments to be affordable for its population] We also have to blame the Europeans for not developping anything on their own.