A Quote by Robert X. Cringely
The companies that can afford to do basic research (and can't afford not to) are ones that dominate their markets. ... It's cheap insurance, since failing to do basic research guarantees that the next major advance will be oened by someone else.
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They really can’t afford to be contrarians. A major investment house can’t afford to do research for five customers who won’t generate a lot of commissions.
Government support is not only investing in upstream areas like basic research, but also in downstream areas like applied research and early-stage financing for the companies themselves. This means there are great risks.
Drug companies spend more on advertising and marketing than on research, more on research on lifestyle drugs than on life saving drugs, and almost nothing on diseases that affect developing countries only. This is not surprising. Poor people cannot afford drugs, and drug companies make investments that yield the highest returns.
It was basic research in the photoelectric field-in the photoelectric effect that would one day lead to solar panels. It was basic research in physics that would eventually produce the CAT scan. The calculations of today's GPS satellites are based on the equations that Einstein put to paper more than a century ago.
If you don't invest in basic research at some stage you start losing the basis of applied research.
Exploration, of course, is going to new places, but I don't think we go to new places just solely to say: "Well, we've been there," and come back, interesting though it may be. To me, each time we go farther into space we should use that to do basic research - basic research that can't be done before you go there.
Large companies can afford to file patents on every idea they have. Small companies, we have to weigh our options, do the research. We have to decide where to place our bets. We can't just cover everything we do.
In basic research, the use of the electron microscope has revealed to us the complex universe of the cell, the basic unit of life.
Government investment unlocks a huge amount of private sector activity, but the basic research that we put into IT work that led to the Internet and lots of great companies and jobs, the basic work we put into the health care sector, where it's over $30 billion a year in R&D that led the biotech and pharma jobs. And it creates jobs and it creates new technologies that will be productized. But the government has to prime the pump here. The basic ideas, as in those other industries, start with government investment.
The U.S. can still maintain research institutions, such as Caltech, that are the envy of the world, yet it would be hubristic and naive to think that this position is sustainable without investing in science education and basic research.
Government isn't that good at rapid advancement of technology. It tends to be better at funding basic research. To have things take off, you've got to have commercial companies do it.
I am happy that I have so many friends all over the world who contributed to my research work, and I believe that also in the future, basic research offers the best opportunity of reaching across borders and overcoming ideological barriers.
We have health insurance companies playing a major role in the provision of healthcare, both to the employed whose employers provide health insurance, and to those who are working but on their own are not able to afford it and their employers either don't provide it, or don't provide it at an affordable price. We are still struggling. We've made a lot of progress. Ten million Americans now have insurance who didn't have it before the Affordable Care Act, and that is a great step forward.
Right now in the insurance markets, we have sort of a disaster unfolding, a downward spiral, adverse selection, premiums in the individual market going through the roof. People can't afford insurance and insurance companies are losing hundreds of millions of dollars. If you repeal part of Obamacare to get rid of the individual mandate but keep some of the ideas, that people can still buy insurance after they're sick, the situation gets extraordinarily worse. And so what we're seeing now could be tenfold greater if you only repeal part of Obamacare.
In a world of widely distributed knowledge, companies cannot afford to rely entirely on their own research, but should instead buy or license processes or inventions (i.e. patents) from other companies. In addition, internal inventions not being used in a firm’s business should be taken outside the company.
We do all that [ represent companies], because we have a lot of research in Japanese companies, and that research educates investors around the world. It allows us to sell stocks and bonds in Japanese companies.
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