There is a problem with this line of thinking. The major technological developments of the 20th century were only made possible by blue skies research, funded by governments through universities and labs. There is no evidence that private companies provide as much basic science. https://twitter.com/asi/status/1295271072137437184

Yes the big tech developments were made by private companies like IBM etc. However, they rest on the scientific understanding of things like the inner workings of atoms, laid down decades before by state funded research. The silicon chip does not work without quantum mechanics.

Without this underpinning none of the computer revolution would have happened, or at least not at nearly the same rate.

Private and public research can work together, but only when we appreciate that they do different things. In Britain we have been incredibly poor at this. We are often the ones to create new ideas, but never the ones to utilise them in business. That is where the effort must go.