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“The United States now faces a new era of global competition, which requires more investment in future generations,” Snapchat’s CEO told the BBC.
Evan Spiegel, who understands the company he runs, said the United States faces a “century of strategic competition” with rapidly growing economies such as China.
“We haven’t seen this competition in the past,” he added.
Spiegel, who hosts BBC Radio 4’s Today morning show, said the United States needs to put in place long-term plans that will allow it to be competitive in the future.
Spiegel, who started Snapchat while studying at Stanford University and became one of the world’s youngest billionaires at the age of 25, also said he would be “happy” to pay more. taxes.
He added that he believed the growth and power of Silicon Valley tech companies through the advent of the internet was “inevitable”, adding that it was “reasonable” to have increased regulatory oversight of the giants. of technology.
About 250 million people used Snapchat daily in October.
“Governments and technology have a close relationship with each other, and if the tech giants pay more taxes, then at least some of those amounts should be invested in funding research related to the development of new technologies such as artificial intelligence, ”Spiegel said.
“The history of great nations actually tends to be based on huge technological breakthroughs, and often technology depends on government investment,” he added.
“I think it’s really easy today in our political system to focus on our failures, not on these amazing successes,” he said.
“Regulating (the sector) is part of the overall technology regulation strategy – the rest of the aspects need to be reoriented … investment in new technologies”, he concluded.
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