ARM Holdings changed the world with their ARM processor design. Android devices, iPhone, iPad, Kindle eReader, Samsung Galaxy all made possible with the chip design from ARM.
Just one problem.
We have learned from the 2008 Financial Crises, investor experience, and employment rate that GDP is not significantly defined by intangibles like processor designs or software systems. They help productivity but not nearly as much as actually tangible goods through and industrial process.
I like software. I have written it. I like computers. Even I can see that in terms of massive job opportunities for and productive exports from a large population, such things don’t scale.
Brexit was made possible because a large number of people lost jobs in the industrial sector. Intangibles could not replace the jobs. Recovering to a better place for more people means accepting that economic activity among most people is centers around the tangibles first. Intangibles work best when paired with industrial production.
The buyers of ARM are accurate in their vision. They will likely be a big part of that. Will it create jobs the scale of the industrial sector? You can definitely say that is not the purpose of the technology or typical arrangements governing its release.
SoftBank made a great deal. ARM exited the scene in the best way possible. This is not the only deal of its kind in recent weeks with MasterCard buying VocaLink. I suspect for the UK this about getting back to basics.