Stripe CEO Patrick Collison on Supercharging Science in the U.S. | Progress Summit 2022

The pursuit of progress faces two primary obstacles: a decline in the productivity of scientific research and a diminished capacity to build physical infrastructure. Modern scientific funding, dominated by centralized, bureaucratized institutions like the NIH and NSF, has become excessively standardized, stifling radical innovation. Experimenting with diverse funding models, such as the rapid, targeted approach of Fast Grants, offers a potential remedy to this institutional calcification. Simultaneously, the ability to execute large-scale projects—from subways to energy grids—has slowed dramatically since the 1970s. This stagnation stems from a combination of regulatory hurdles and broader cultural shifts that have altered the societal appetite for ambitious construction. Addressing these challenges requires a multifaceted approach that integrates science, technology, policy, and a renewed cultural commitment to rapid, tangible development.