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Google Maps, Uber, and Wall Street Run on Socialism: How the U.S. Government Built the Global Positioning System
['Matt Stoller']
BIG by Matt Stoller
If Elon Musk ran the GPS system, you’d hear about it nonstop, valorizing this great man who built something so remarkable and valuable.
Public ownership, and putting these stakes in a sovereign wealth fund, would ostensibly do both.
The creation of the GPS system was situated in a Cold War industrial complex shaped by antitrust battles that took place during the New Deal.
When the space race started in the 1950s, the culture of openness led to the GPS system.
Today, the timing of these clocks is so good that high frequency trading on Wall Street is timestamped using the GPS system.