As we move more and more towards collectivism... it was never your money... its the governments money.... they just let you use some of it for a time... if you have the right politics and you don't piss off the wrong people. The China model.
So how did these people use economies of scale AND also have a legal and physical protection against other people stealing it?
In the old days, the rich would have to hire their own small defense/army just to protect their riches from being stolen. And we're not even talking about the public road/education/health/communications system that allows their products to be made and delivered to customers that pay the money that becomes their profits.
From the above you can see that the these people want to "ride free" off the backs of people that pay their share back into the system.
So how exactly do people get educated and products make it to market etc? There's a lot of "soft" infrastructure that you're forgetting too. That was part of Biden's point. There's hard infrastructure that everybody understands, and then there's the soft infrastructure like a well-educated workforce that can quickly adapt to the new market demands.
An efficient (not wasteful, which is tough to make happen) investment in either would help the US in every way, publically and privately.
