The big idea this week is to discuss an essay by the renown venture capitalist Marc Andreesen, entitled "It's Time to Build."
For full show notes, see: www.buildbigideas.com/post/it-s-time-to-build-by-marc-andreesen-ep-12
Some key quotes from the essay are found below:
“Every Western institution was unprepared for the coronavirus pandemic, despite many prior warnings. ... Part of the problem is clearly foresight, a failure of imagination. But the other part of the problem …. is a failure of action, and specifically our widespread inability to *build*.”
"Is the problem: Money? Capitalism? Technical competence? No. The problem is desire. We need to *want* these things. The problem is inertia. We need to want these things more than we want to prevent these things. The problem is regulatory capture. We need to want new companies to build these things, even if incumbents don’t like it, even if only to force the incumbents to build these things. And the problem is will.”
“In fact, I think building is how we reboot the American dream. ... We need to break the rapidly escalating price curves for housing, education, and healthcare, to make sure that every American can realize the dream, and the only way to do that is to build.”
“I expect this essay to be the target of criticism. Here’s a modest proposal to my critics. Instead of attacking my ideas of what to build, conceive your own! What do you think we should build? There’s an excellent chance I’ll agree with you. ... There is only one way to honor their legacy and to create the future we want for our own children and grandchildren, and that’s to build.”
I enjoyed Mr. Andreesen's essay. It is a powerful call to action. As an engineer and founder of the "Build Big Ideas" podcast, it shouldn't be surprising that I like the idea of building stuff. You probably agree, if you have read (or listened) this far.
So what should we build?
I brainstormed some ideas, and below is what I came up with.
- Better maintenance of our existing infrastructure
- Zero-emission energy generation: renewables and nuclear
- Smart grid / electric vehicle charging infrastructure
- Parks: Big Dig, Boston; Alaska Way Viaduct, Seattle; and the High Line, NYC are examples of turning ugly, outdated structures into new, beautiful, high-value urban parks
Once we have agreed on what to build, how should we pay for it?
How should we pay for it? - Public vs. Private - Moat vs. consumer surplus - Taxes vs. State-Owned-Enterprises
Is there a way to do a modern version of the Works Progress Administration to build needed infrastructure?
What do you think we should build? How should we pay for it? We would love to hear your ideas.
[Note - we recorded this episode in before now-President Biden recently announced an Infrastructure bill. At this time, it is unknown how that bill may evolve into a future infrastructure funding law.]
Threads to pull for future episodes
What can we learn from studying the original Works Progress Administration?
Questions, Comments, and Suggestions
Hosts: Scott Snelling, P.E. and Jason Toth, P.E., PMP
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