Should we let tech companies run the world?

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Yes, like, even more than they do today. This is Tyler Cowen’s question and here are two views: 

Under one view, the major tech companies lucked into some pieces of rapidly scalable software.  They are phenomenal at producing and distributing such software, but otherwise they put on their pants one leg at a time, just like the rest of us.  They are not especially productive at marginal activities beyond their core competencies.

Under the second view, the major tech companies have developed new managerial technologies for hiring, handling, and motivating super-smart employees.  That is the reason why the tech companies have become phenomenal at producing and distributing rapidly scalable software.  But if tech companies turn their attention to other productive activities, they would do very very well.  Alex for instance thinks that Apple ought to buy a university. Or you might expect that Google’s “scallion fried fish” dish would be especially tasty.  After all, do not smarter people make for better cooks?

[Source: Marginal Revolution]