The alternative to private business developing these things is that the alternative is to have it in control and development in the hands of the government.
Which means higher taxes
I am okay with this.
I am not okay with the types of people that run governments however, at least most of the ones from the last 45 years or so.
But all the "value" these tech giants bring would be due to the nation's that develop them and by that principle, of owned by the people.
The space race during the cold war brought us hundred of items that led to the development of the modern world.
Email changed everything. Then globally connected computers.
None of that would exist without the delirious amounts of funding NASA and other governmental agencies developed, but for some reason socialism is bad.