Nathan Myhrvold: The Wealthy Should Fund Innovation

For some technologists, it's enough to build something that makes them financially successful. They retire happily. Others stay with the company they founded for years and years, enthralled with the platform it gives them. Think how different the work Steve Jobs did at Apple in 2010 was from the innovative ride he took in the 1970s.

A different kind of challenge is to start something new. Once you've made it, a new venture carries some disadvantages. It will be smaller than your last company, and more frustrating. Startups require a level of commitment not everyone is ready for after tasting success. On the other hand, there's no better time than that to be an entrepreneur. You're not gambling your family's entire future on what happens next. That is why many accomplished technologists are out in the trenches, leading and funding startups in unprecedented areas.

Jeff Bezos has Blue Origin, a company that builds spaceships. Elon Musk has Tesla, an electric-car company, and SpaceX, another rocket-ship company. Bill Gates took on big challenges in the developing world—combating malaria, HIV, and poverty. He is also funding inventive new companies at the cutting edge of technology. I'm involved in some of them, including TerraPower, which we formed to commercialize a promising new kind of nuclear reactor.