Jack Dorsey, co-founder of Twitter (now X) and Square (now Block), sparked a weekend’s worth of debate around intellectual property, patents, and copyright, with a characteristically terse post declaring, “delete all IP law.”
X’s current owner Elon Musk quickly replied, “I agree.”
In the US the tax payer subsidizes almost all drug research. Between 2010 and 2019 the NIH spent $184 Billion on all but 2 drugs approved by the FDA.
It worked out to about $1.5 Billion for each R&D product with a novel target and about $600 mill for each R&D product with multiple targets.
https://pmc.ncbi.nlm.nih.gov/articles/PMC10148199/
Or
https://jamanetwork.com/journals/jama-health-forum/fullarticle/2804378
The cost to develop each drug is between about $1 and $2.5 Billion
I’m not sure how much is subsidized outside of NIH but I’d imagine other countries are doing the same.
Why should companies own the whole IP or perhaps why should they have any ownership if most of the funding is from the public?
This is a great point. I know that some pharmas actually do internally funded research, it’s a thing, it happens, but it’s completely dwarfed by shareholder giveaways and government subsidies ofc.