Wealthy people drive innovation. When cellular phones were first being developed, they were sold for thousands of dollars because wealthy people bought them as a status symbol. The R&D departments at these companies only managed to create smaller, more efficient devices because they had that initial influx of revenue from expensive sales to the "1%." If it weren't for that segment of the population that had the resources to purchase those devices, they never would've been sold.
Under socialism, there will be no rich people because everyone will be consigned to brutal, crushing, inescapable poverty. Because of this, there will be no innovation either. The only advancements you see under socialism are in the realm of military technology (socialists, despite all else you might say about them, are great at killing people).
I mean, aside from everything else, this is not how business actually works here in the real world. If a business tried to fund investment entirely from retained earnings, it would very quickly find that it was no longer in business.
(especially in the case of mobile phones, where so much of the technology they use was either the direct or partial result of government investment or research)
Congrats on the argument from emotion though.
