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by untilHellbanned
4216 days ago
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> Outside of the obvious issues with implementing crowd funded science in an academic setting (Who owns the IP? How does overhead work? How do you verify that the work is being done if there are no deliverables and a high failure rate? How much money can go to salary? etc). The two obvious problems I see with crowd funding science are lack of ROI and ignorant investors. I guess we will just have to agree to disagree. I'm of the mindset that the market solves everything and will answer all the questions you pose. Academia/govt. is horribly inefficient and the money is running out there for several the reasons such as no deliverables. It academia/govt was forced to bail space exploration (SpaceX), it seems much easier to understand how this will happen in other sectors. |
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The government funds basic science specifically because the market WON'T do it. A classic example is the work done on early cancer research. This breakthrough work along with several blockbuster drugs came entirely out of government sponsored research and work in academia. Pharmaceutical companies weren't interested in performing the basic research because they didn't forsee a good ROI. It was only after basic research was done and the market developed that pharmaceutical companies became interested in what is now one of the most lucrative drug categories.
http://cancerres.aacrjournals.org/content/68/21/8643.long