The one thing I want to say is that 92% of the value of the Standard and Poor's 500 is now intangible assets, up from 17% in the middle to late seventies. The game has changed from supply chains to value chains. You can appreciate how maniacally predatory and competitive the positions on value chains are, and how they can move non-linearly. The most elite expert SWAT teams, highly trained and aligned all through their system, are focused on the upstream appropriation game. If you don't appropriate up front, you have nothing to commercialize, and then your companies have nothing to sell or grow.
I think Canada has all the ingredients to create multiple $100-billion companies in the intangibles economy. That's why it's such a shame. Then, when you make that money, you can turn it right back to the universities and get that flywheel going like crazy.
My one message is that upstream appropriation structure in a maniacally predatory mercantilist game is what we are missing in our policy and institutional architecture.