Teletype and Arpanet (Internet), microwave ovens and color TV were also available in the 1970s.
They didn't take off until the 1990s because they were too expensive for the average consumer. In the 1990s, thanks to Moore's Law, technology finally saw an explosion of efficiency in manufacture of those things, along with the increase of the power of the chips that run those things. People could then afford those things and so it spread like a virus. Some may call it "runaway-consumerism", but I call it progress.
As to who made the investment into the massive infrastructure of high-tech? It wasn't a head of state, it was private industry.