[wacki]

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Private industry sucks when it comes to novel innovation. They simply don't like taking chances with the unknown.

Please tell me you're joking.

natedogg

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Kind of..... There are a few exceptions like IBM and Intel. When it comes to medicine private industry does have major problems. They simply won't invest in researching a drug unless there is a minimum market for 1 billion american dollars. Simple cures/prevention are overlooked and only expensive treatments are usually explored.

If you don't believe me look at all of the major breakthroughs lately. The paralysis cure, HIV vaccine, eye implants for the blind, transparent aluminum, artificial spider silk, are all university innovations that have occured this year. Compare the amount of novel, and I am being very specific when I say novel, innovation in university/grant funded vs. private industry and you will see university/grant funded comes out way ahead. Private industry does have it's use, they are unbeatable at coming up with cheap answers quickly in the technology field. (These answers aren't always the best) But the king of novel innovation is always a non profit organisation. Just look at NASA.

There are exceptions to this rule of course. 3M, Dupont, IBM, and Intel are very good at what they do. Some areas, particularly medical, private interest does not always line up with the public interest.

Private industry is very good at comming up with answers if the projected profits are high enough and the answer is close enough to reach.