William Janeway on What's Needed for the Innovation Economy

Bloomberg Opinion columnist Barry Ritholtz interviews the venture capitalist and economist William Janeway. Janeway discusses how much of America’s innovative technologies began with a helping hand from the U.S. government. Transistors, ARPAnet (the predecessor to the internet), semiconductors, cellular technology, microwaves, even stealth technology, got their start as government research projects. An updated edition of his book, "Doing Capitalism in the Innovation Economy: Reconfiguring the Three-Player Game between Markets, Speculators and the State," was released in May.