[ale] will R&D run dry?

[Jim]

Business Week is running a fascinating interview with Greg Blonder, a 
long time researcher for Bell Labs, holder of more than 70 patents and 
currently a venture capitalist. He says that the dot com revolution 
diverted too much capital from long term research--in favor of short 
term gains--and that eventually we will hit a wall on innovations. He 
puts a lot of the blame on other venture cpitalists. But he says the 
recent innovations we have had come from research done 15 and 20 years 
ago. Equivalent R&D is not being done now. He says that if we don't 
change this, China and India will become the technological leaders (with 
a tilt towards India). It's fascinating--and scary--reading. What do you 
think? Does he have a point?

The interview is here:

http://www.businessweek.com/smallbiz/content/jul2002/sb2002072_0601.htm


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