How to Save the Global Economy: Think Small foreignpolicy.com
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So far, though, President Barack Obama has mainly thought big. Big loans to electric-car makers and solar panel manufacturers. Big loans to Wall Street banks. He needs to think smaller. Sponsor more innovation contests. Make it easier for small companies to get started and get seed funding; if their technology is really good, they would cross the chasm to real funding in the next round. Rather than awarding $500 million to a single Solyndra, place small bets on 100 companies and let the marketplace of ideas sort it out.
So far, though, President Barack Obama has mainly thought big. Big loans to electric-car makers and solar panel manufacturers. Big loans to Wall Street banks. He needs to think smaller. Sponsor more innovation contests. Make it easier for small companies to get started and get seed funding; if their technology is really good, they would cross the chasm to real funding in the next round. Rather than awarding $500 million to a single Solyndra, place small bets on 100 companies and let the marketplace of ideas sort it out.