- cross-posted to:
- technology@lemmy.zip
- cross-posted to:
- technology@lemmy.zip
Jack Dorsey, co-founder of Twitter (now X) and Square (now Block), sparked a weekend’s worth of debate around intellectual property, patents, and copyright, with a characteristically terse post declaring, “delete all IP law.”
X’s current owner Elon Musk quickly replied, “I agree.”
Companies will not — ever — dump hundreds of millions/billions into developing a drug only to have it be sold at cost or even worse, completely losing out on it when a competitor sells a copy of it at a price you can’t match.
And even if they did suddenly turn to altruism like that, they’d very quickly go bankrupt.
Why would anybody spend billions making new drugs if they knew with 100% certainty that they’d never make the money back?
We may not like it, but that’s the system that we have. Some form of IP law should exist to encourage these companies to continue putting out medicines that better our lives, it’s just that our current ones go way too far.
We already fund the research of new drugs almost entirely through publicly funded projects which then HAND OVER the patent rights to whichever company has the most former board members in the executive branch at the time.
I watched it happen in real time during covid while working for the DPH. Those companies produce NOTHING. They are the literal obstacle to creating new medicines and making them widely available.
I’m against the context of the main post but putting on a cape for medical patents is wild. The entirety of healthcare in america is inexcusable. Let’s stay focused on the AI tech oligarchs robbing us of our futures and attempting to frame it as a concern with intellectual property.
If it’s state funded then that’s obviously a different matter.
But usually it’s a company making drugs, and they’d go bust if they spent billions developing a drug and got zero money back. Then there would be far fewer drugs made.
Be practical. Letting people die for ideological reasons is not a good thing.
How, when more companies would be able to develop the same drug? And they don’t develop drugs, they develop ways to extend their patents.
More companies will develop that drug.
But think of it this way. You’re the CEO of a pharmaceutical company that makes drugs, vaccines, etc that saves lives. You do this for a profit.
You’re presented with a plan to make a drug that, idk, lessens the symptoms of Crohn’s Disease. It’ll cost $2 billion to create and bring to market.
After it’s done being created, and the drug spends 10+ years in clinical testing, it’s on shelves. You have to price each box at $10 in order to break even after 5 years, so you do so.
But the law has changed, now anybody can manufacture the drug. A competitor who didn’t foot any of the development costs or do any of the hard work is selling each box at $0.80. you can’t compete with that, you make an enormous loss and your company edges closer to bankruptcy.
One of your workers comes to you with plans for a $2bn project that will hopefully reduce migraines. Given lessons learned from the previous example, do you go ahead with the plan? Will the board even let you?
I agree that IP laws in the sector need to be pared down, but scrapping them entirely would prevent any company from creating new drugs, as they’d be absolutely certain they wouldn’t be able to recoup development and regulatory hurdle costs.
In an ideal world, all drugs would be made by governments, for a loss, and open sourced, so the market could compete on price. But that’s not the world we live in.
If you only funded drugs through public funding, that means the government has a say in what drugs get funded and which don’t, meaning any and all drugs that don’t affect the broadest number of people simply won’t get funded.
Drugs will no longer be for all people, it’ll be strictly the people that vote for the government in charge. So… No hormone treatments, no birth control, no vaccines, no aids research, nothing that doesn’t explicitly align with the government.