Alan Meckler Interviewed by ‘Bloomberg Markets’ and Expresses Concern US is Trailing China in Quantum Tech

(Bloomberg.com) Alan Meckler, Managing Partner of Asimov Ventures, was interviewed by Lisa Abramowicz and Paul Sweeney, co-hosts of “Bloomberg Markets” after last week’s the ‘Inside Quantum Computing’ Conference in Boston last week–produced by 3DR Holdings and Inside Quantum Technology.
Meckler explained that he has been “good at spotting trends and doing shows on those trends.”
Describing quantum tech, Meckler elaborated, “Quantum makes super computing look like the stone age with the speed and rapidity of what it can solve. The technology has huge ramification for cybersecurity, as for bank accounts.
Moving to presentations at the recent conference, Meckler said that IBM-Q has set up a whole division for quantum computing and Microsoft has set up their own division that concentrates on AI, financial services and chemistry.
Current initiatives are linking up with universities with substantial quantum tech research coming out of universities.
Meckler stressed the “Key issue is security” and expressed concern that “The US taking a backseat to China” in quantum tech. He explained that China is spending $10B to build a centralized institution to study and develop quantum. The US is spending $1B a year in all forms versus China’s $5 billion development expenditures on top of the $10B center. Mr. Meckler also discussed China’s quantum satellite, which “they said couldn’t be done.”
He stressed that we must begin now to protect future networks against quantum threats. “We foresee a quantum internet threat like Y2K–called Y2Q–in which security for all financial institutions will have to be installed. For finance and the government NOT to focus on the Y2Q would be a real problem.
Abramowicz asked about the need for future technical professionals in quantum technology and Meckler explained that training and education is part of the recently funded US Quantum Initiative.