The leading digital platforms control access to an increasing share of the world’s data. Here’s why we need policies that level the playing field.
Joseph Schumpeter was deeply worried about innovation. The renowned economist, who coined the term creative destruction, championed entrepreneurship as the engine of economic growth but feared that small players lacked the key re-source needed to implement their pathbreaking ideas: capital. Fortunately, he turned out to be wrong. Since the 1950s, a thriving ecosystem of angel investors and venture capitalists has supplied enough money to startups for their ideas to change the world.