Michael Brown, director of the Defense Innovation Unit, said focusing more on stock prices and quarterly earnings than research and development could result in the U.S. losing its technological edge over China, FCW reported Friday.
"You're never going to win in a technology race with defense,” Brown said Friday at a Brookings Institution virtual event. “What do we do to reform our business thinking and our capital markets to move away from short-term thinking to be more long-term oriented.”
He said the U.S. government should provide incentives to U.S. firms to encourage them to focus on R&D efforts and long-term investments and such incentives could be in the form of tax advantages.
