We need to make sure that we're winning on the technologies of today. But the government has a very important role in funding the technologies of the future. And We spend about $200 billion a year on federally funded research and development. And the question always is, what should we spend that money on? And sort of the first order question is we should be spending it on things that the private sector is least incentivized to do. (18:07–18:12)
CLAIM
Asserts that the U.S. spends about $200 billion annually on federally funded research and development.
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