>the market is actually not at all interested in the satisfaction and well-being of the people in society.

The biochem industry is extremely bad at creating things that increase the satisfaction and well-being of society; the vast majority of products are failures with few users. The reason tech companies make money is because they make things people actually want to use.

If that were the case then public services would be paid better.

Wages simply go to the industries that make the most money. There’s nothing more insightful than that.

Would you count Borlaug’s work as biotech?

Most ad-blockers are non-profits, how does that fit in your picture?

>The biochem industry is extremely bad at creating things that increase the satisfaction and well-being of society

I'd argue the "satisfaction" of society has been hijacked. We cannot even, as a society, understand the impact on medicine, nutrition, agriculture and the well-being we could harness from focusing on the long term, rather than seeking dopamine hits through screens.

I blame Moloch. https://www.slatestarcodexabridged.com/Meditations-On-Moloch

At least you're honest enough to admit ignorant tech bro status out loud.