Destined To Fail

Our economic system is capable of producing tremendous new technological advances, however, we are destined to fail because we have taken away our national ability to compete with the rest of the world. While we pit our individual companies against one-another vying for a $10 million prize, other countries assemble their entire national “warchest” to compete on a scale we have never contemplated (except during previous major wars).

Our domestic auto industry is overrun with foreign competition. Our last remaining two car companies are losing vast sums and their receding market share has plummeted well below 50%. Yet US auto exports to Japan account for only 1% of their domestic auto market. They are protecting their home market while taking advantage of the incentives we use to bring them here to give us “jobs” while putting our industries out of business.

Wrightspeed has accomplished a great deal with a few million dollars worth of venture capital. Toyota’s quarterly profit exceeds several billion dollars! Toyota at any point could decide to acquire our best technology, our best innovators, or simply re-design and produce these innovations themselves. We have no restrictions on what other countries may do to our fledgling industries or technologies. Foreign producers armed with our resources from years of their trade surpluses with us can simply out-produce us – Wrightspeed may be able to design a fantastic product, but Toyota could mass-produce this product and sell it for less money than it would cost Wrightspeed to build.

In summary, this $10 million prize has no hope of creating a new industry, new jobs, or new hope for this country as long as we permit other countries to invade and exploit our technologies, innovations, markets, and industries.

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