The topic for today is “How to Make a Billionaire.” Los Angeles entrepreneur, Elon Musk, has built a multi-billion dollar fortune running companies that make electric cars, sell solar panels and launch rockets into space. And he has built those companies with the help of billions in government subsidies.
Is his model of public private financing the future for the US to support long shot startups? Should the US and state and local governments be providing funding for economic development with taxpayer dollars? It is a question that Michigan’s legislature is considering now as they prepare the budget, and try to provide funding for the roads. Should governments pick winners and losers for funding assistance?
