Most venture capital funds are too short-termist and exit-driven to deal with the highly uncertain and lengthy innovation process.

My specific concerns with Trump's plans are that they are likely to investments in infrastructure where the private returns are highest (for example toll roads and bridges) rather than where the public gains are greatest.

We should be investing where the public returns are greatest - that is in innovation.

Once we admit that the public sector takes an immense amount of risk along the entire innovation chain, it becomes crucial to find ways to share both risks and rewards.

Rethinking capitalism means rethinking the role of the public sector, the role of the private sector, the role of finance, and the relationship between them all.

If we look at the complexity of the challenges facing western societies today, we see that the problems are not really about outsiders, but have their roots much closer to home.

Fixing markets isn't enough. We have to actively shape and create them and tilt the playing field in the direction of the growth we want.