> A company facing market dynamism, price competition... Is unlikely to be investing billions in speculative r&d, for example.

Simple solution: tax companies more heavily and use the money for public investment in research.

The problem with people like Thiel is they’re incapable of thinking past their own self-interest, which makes many perfectly good solutions seem unthinkable to them. No one should listen to them when it comes to anything resembling public policy.