Great analogy actually, because the President and Krugman are exactly right in this regard. We ignore the ecosystem that was built, and which we benefit from, by those before us at our peril.
You should see technology as a forest. You can mine it for medical cures, for wood, it's an enormous externality that you leverage. And you have a duty to continue planting more back into it to keep it going for yourself and everyone who comes after you.
The Apple narrative is too bound up in heroic origination stories, without due credit and acknowledge to the huge role played by the rest of the industry. I'm only saying that if one profits immensely by using knowledge produced by one's forefathers, one has a duty to reinvest and keep driving it forward, not hoarding piles of cash. (oh, and not going insanely litigious and secretive on discoveries either :) )
You should see technology as a forest. You can mine it for medical cures, for wood, it's an enormous externality that you leverage. And you have a duty to continue planting more back into it to keep it going for yourself and everyone who comes after you.
The Apple narrative is too bound up in heroic origination stories, without due credit and acknowledge to the huge role played by the rest of the industry. I'm only saying that if one profits immensely by using knowledge produced by one's forefathers, one has a duty to reinvest and keep driving it forward, not hoarding piles of cash. (oh, and not going insanely litigious and secretive on discoveries either :) )