I don't see the chicken and egg problem. The company has lots of money to spend on R&D. So they can spend money on competing ideas and choose winners. Not all companies have money to spend on R&D.
and where does the company get the money to spend on R&D? That is the chicken and egg problem. That's like saying Warren Buffet is good at picking stocks because he is rich and can afford to spend more money picking stocks.
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I don't see the chicken and egg problem. The company has lots of money to spend on R&D. So they can spend money on competing ideas and choose winners. Not all companies have money to spend on R&D.
and where does the company get the money to spend on R&D? That is the chicken and egg problem. That's like saying Warren Buffet is good at picking stocks because he is rich and can afford to spend more money picking stocks.
Generally by borrowing it, if they don't have a cash surplus.