Are technological innovations and new business starts driving economic growth? Prominent innovators and entrepreneurs express diff ering views. In 2011, Peter Thiel lamented that “we wanted flying cars, instead we got 140 characters” (Thiel 2011). That same year, Marc Andreessen took the opposite view, arguing that “software was eating the world,” a trend that made him “optimistic about the future growth of the U.S. and global economies” (Andreessen 2011). The ensuing decade has provided evidence to support both the optimistic and pessimistic views of the role of innovation and entrepreneurship in economic growth.
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