A friend of yours just bought a Samsung smartphone equipped with the Android operating system. While showing it to you, he said, “You think entrepreneurial firms are so smart, look at what Samsung has done. It has produced a smartphone that allows me to make calls, take pictures, run apps, surf the Internet, and perform dozens of other tasks. Samsung’s a big company, not a small entrepreneurial firm. What do you have to say to that?”

If you were to defend the role of entrepreneurial firms in developing new technologies, how would you respond?