Profit over Progress: Elon Musk, Steve Jobs to Jeff Bezos, are they ‘visionaries’?

tech.hindustantimes.com:

Technological innovation in the last couple of decades has brought fame and huge wealth to the likes of Elon Musk, Steve Jobs, Mark Zuckerberg and Jeff Bezos. Often feted as geniuses, they are the faces behind the gadgets and media that so many of us depend upon. Sometimes they are controversial. Sometimes the level of their influence is criticised. But they also benefit from a common mythology which elevates their status. That myth is the belief that executive “visionaries” leading vast corporations are the engines which power essential breakthroughs too ambitious or futuristic for sluggish public institutions.

For there are many who consider the private sector to be far better equipped than the public sector to solve major challenges. We see such ideology embodied in ventures like OpenAI. This successful company was founded on the premise that while artificial intelligence is too consequential to be left to corporations alone, the public sector is simply incapable of keeping up.

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The approach is linked to a political philosophy which champions the idea of pioneering entrepreneurs as figureheads who advance civilisation through sheer individual brilliance and determination.

In reality, however, most modern technological building blocks – like car batteries, space rockets, the internet, smart phones, and GPS – emerged from publicly funded research. They were not the inspired work of corporate masters of the universe.

And my work suggests a further disconnect: that the profit motive seen across Silicon Valley (and beyond) frequently impedes innovation rather than improving it.

For example, attempts to profit from the COVID vaccine had a detrimental impact on global access to the medicine. Or