Yet another misguided populism from Robert Reich

Robert Reich says:

Problem is, financial entrepreneurship is becoming more and more dominant in the economy. Thirty years ago, finance was the handmaiden of American industry. Now industry is run by finance. For every budding Steve Jobs or Bill Gates there are now thousands of aspiring private equity or hedge fund managers. That’s because this is where the big bucks are. Which means, it’s where some of our most talented young people are going.

Why is it a problem ? Robert, I respect you a whole lot but you are missing the point. Even product developers do it for the money. Bill Gates was no bleeding heart and Steve Jobs was no artist. Making money off of money is no easy fit and there is plenty of technological innovation in that field. You are probably forgetting ECNs, algorithmic trading, etc.