Modern life may be full of comforts, but as Derek Thompson and Ezra Klein argue in their new book, Abundance, we are still squandering our potential to create a future that is vastly better for everyone. In a recent conversation on YCombinator’s YouTube channel (hosted by Garry Tan), Thompson dives into how bureaucracy, outdated regulations, and a lack of vision have put the brakes on large-scale innovation. He also highlights the immense possibilities awaiting us—if we can find the courage and the systems to accelerate real progress.
Thompson begins by painting a vivid “sci-fi” picture of daily life in 2050 if society commits to creating genuine abundance. Clean energy flows from a multitude of sources, from solar and wind to nuclear and enhanced geothermal. Homes and offices are cocooned in near-limitless green power. Water is plentiful, thanks to new large-scale desalination technologies. Agriculture has made leaps via vertical farming and lab-grown meats. Meanwhile, supersonic jets—fueled by sustainable options—make intercontinental travel a breeze.
Such an energy-rich world makes it feasible to tackle climate change head-on with large-scale carbon removal. But this aspirational future requires rigorous innovation—especially in “hard tech,” which solves real-world problems with tangible products and infrastructure.
America’s golden age of building took place roughly between the 1930s and 1960s. Roads, dams, and entire suburbs sprang up at breathtaking speed. But this relentless growth exacted a social and environmental toll: air pollution, toxic waterways, and the destruction of low-income neighborhoods. Regulators and activists responded in the late 20th century by introducing a host of environmental and legal safeguards—powerful tools that also made building anything new extraordinarily difficult.
Thompson cites the example of high-speed rail in California. Despite a massive budget, the project has languished for years in part because of endless lawsuits and overlapping regulations. Similarly, the expansion of rural broadband has been stuck in a 14-step review process, leaving critical projects unbuilt even when funding is available. Thompson underscores that while none of these individual regulations are inherently “evil,” their sheer accumulation becomes paralyzing.
One of Thompson’s focal points is modernizing the National Institutes of Health (NIH), an 80-year-old system that, while historically successful, is showing signs of stagnation. The peer-review process, geared toward safe and predictable research, often overlooks bold, paradigm-shifting projects. Moreover, scientists can spend up to 40% of their time writing grant proposals rather than doing actual research.
Thompson envisions “metascience,” an experimental overhaul of existing grant-making rules. Ideas include awarding “golden tickets” for the most high-risk, high-reward endeavors and guaranteeing research funding over 10 or 15 years so scientists can truly dig deep. This flexible approach could accelerate breakthroughs in fields ranging from immunology to cancer research.
Abundance is not just about distributing money or offering subsidies (what Thompson calls “push funding”). It also requires “pull funding,” in which the government guarantees sizable rewards or large-scale purchase agreements to whoever meets a specified goal first. This encourages fierce competition, draws in private investors, and spurs robust innovation. Thompson praises the success of Operation Warp Speed, which ensured multiple pharmaceutical companies raced to develop effective COVID-19 vaccines quickly, thanks to advanced market commitments.
By applying similar models to renewable energy, green cement, or carbon capture technology, we can dramatically expand both the speed and scope of scientific and engineering efforts. This mixture of visionary policy and entrepreneurial energy could help deliver the cleaner, safer, and more efficient planet Thompson envisions by mid-century.
For would-be founders, Thompson’s advice is clear: recognize that our time on Earth is brief, and we can choose to spend it on the most important work of our generation. Whether that means building new AI tools to expedite drug discoveries or pioneering breakthroughs in fusion energy, the opportunity to shape the future is enormous.
Technology does not have to mean despoiling the Earth. If done wisely, it can reduce hardship and expand human agency. In Thompson’s words, “[We want] people in 2050 to look back at our era and say, ‘That world was stuck—but here we are now, and it’s so much better.’”
In highlighting the transformations that occurred during the 1930s–1960s, Thompson and Klein emphasize an overarching lesson: every generation must find the courage to rebuild its institutions. Updating outdated regulatory frameworks, redesigning how we fund scientific research, and renewing our belief in the transformative power of technology are all crucial to forging an abundant future.
As Thompson puts it, the current moment is ripe for a new ethos of speed and accountability that still respects the need for safety, equity, and environmental protection. Balancing these goals is challenging, but the stakes are high. If we summon the will, we can usher in an era in which supersonic travel is clean, housing is affordable, and biotech breakthroughs cure diseases once thought incurable. It’s a future in which society looks back at the 2020s as an inflection point—a moment when we collectively chose to reclaim a vision of true abundance.
