Opinion

So many things wrong with Labor’s one huge bet on PsiQuantum

Venture capital investors typically place many best across multiple different companies and technologies. The government is backing one technology and company.

Paul FletcherFederal opposition spokesman for science

May 5, 2024 – 11.57am

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If quantum computing is the future and Australia has some of the world’s best quantum researchers and early stage companies, then what could possibly be wrong with the Albanese Labor government – along with its counterpart in Queensland – putting nearly a billion dollars into PsiQuantum, some of whose founders are Australian?

Actually, there are so many things wrong with this decision, it is hard to know where to start.

Paul Fletcher is Shadow Minister for Science.