Britain's two-front dreadnought competition

What if Germany had invested in naval technology as well as hull numbers?

Germany lacked the infrastructure for both; Britain already faced German numerical pressure plus a separate technology race with Italy and the United States.

Germany concentrated on building enough hulls to challenge Britain and generally matched the British technical standard. Italy and the United States, rather than Germany, drove several of the important advances that pushed dreadnought design forward. Britain had to answer those innovations while also maintaining numerical superiority over the German fleet. The result was a costly two-front competition in both quantity and technology.