[enraged_camel]

Inefficient when it comes to innovating, yes. In any industry dominated by powerful incumbents and where the startup capital costs are extremely high, you do need outside intervention (I.e. a subsidy in the form of a loan) to help newcomers.

[bob13579]

So any startup that competes in the pharmaceutical sector or biotechnology industry should be given hundreds of millions of dollars in taxpayer-funded loans?

[enraged_camel]

Not any startup. Only those who qualify for the stict conditions for the loan. Like Tesla did.