[HWR_14]

Let's suppose you had some novel idea that would greatly increase the value of a social network, idea X. In the current system, you can patent it, build a working version, and then either sell out to FB or another major tech company (ala Instagram) or go public (like Snapchat). Without patents at all, FB sees your app start to take off, looks at it's key feature, assigns N engineers to duplicate it and rolls it out to billions of users. Your app then is a sad knockoff of FB's shiny new feature, withers and dies.

Meanwhile, with a Georgist tax, either you have to raise hundreds of millions just to pay the tax when created, or FB buys your patent for peanuts.

[michaelt]

Has anyone ever had a novel idea for a social network, patented it, and been paid for it by FB?

Because it seems to me, the way the patent system is supposed to work, and the way it actually works in practice, are very different.