Rich US high-tech firms may be blunting innovation: OECD

Washington

IT'S practically an article of faith in Silicon Valley: high-tech companies are an unalloyed good for the US economy, generating the innovation that is critical to its long-term success.

That's not always the case, according to the Organisation for Economic Co-operation and Development (OECD). The Paris- based group argues that rich, entrenched technology companies may be dampening rather than promoting innovation by buying up fledgling firms.