alt Hacker Newsi think an important nuance and the reason we don't suddenly have a sovereign wealth fund is it’s not a centralized US Gov buying stakes. It’s a bunch of different government entities using different pools of capital
- Commerce dept: Intel, IBM quantum, GlobalFoundries, D-Wave, Rigetti, xLight
- Dept of "war": MP Materials for rare earths, L3Harris rocket motors for munitions
- Energy dept: Lithium Americas / Thacker Pass, Westinghouse nuclear
- White House: U.S. Steel golden share
Excluding the White House, this is the correct approach. Each department and it's associated agencies have better domain experience in specific niches and access to capital.
This doesn't preclude the creation of a generalized SWF, but there is a difference between an SWF, SDF, and everything in-between.
This is the same approach Japan, South Korea, China, and India use as well.