4 ms·

You shouldn't look at R&D on one product, since lots fail. Would be like saying a record label that funds 100 artists with 1 being profitable should have a str

by cma 2y ago

You shouldn't look at R&D on one product, since lots fail. Would be like saying a record label that funds 100 artists with 1 being profitable should have a strict 20% profit cap on the profitable one. That wouldn't allow ongoing funding of the broader pool of bets.

givemeethekeys 2y ago
How much of the record label's music production is funded by tax dollars?
- throwup238 2y ago
  David Bowie, Mick Jagger and Keith Richards, John Lennon and Paul McCartney. The list of musicians who were “on the dole” to support their music careers before they made it big is huge. It’s almost a cliche at this point. And when they do make it big, their biggest concerts are usually held in stadiums that were heavily subsidized by tax payers. Besides, Bristol Meyers Squibb acquired this drug for $14 billion which is bigger than the annual budget of the entire NSF. For a single drug. Tax payers weren’t the ones on the hook for that.
  - givemeethekeys 2y ago
    Do record labels in the UK get funding too? I'd imagine artists getting funding is like scientists getting funding, where as record labels getting funding is more like pharmaceuticals companies getting funding.
- cma 2y ago
  That's fine but even considering that, is 20% only on successes enough to fund the rest of the portfolio that fails? And will it pass the risk free rate of return you can get from money markets or treasuries or whatever?
- s1artibartfast 2y ago
  In what sense are you proposing pharma production is funded by tax dollars? Selling a product to the taxpayers is not the same as funding.
  - cma 2y ago
    Fundamental research slants towards public institutions, advertising and the clinical trials are the main spending the drug companies do, though they have research beyond trials too. Lots of acquiring university spinouts as well.
    - wbl 2y ago
      The gap between "one chemical that targets this thing" and a drug is massive. And basic research might not even end up with the first, just the target idea.
  - pjmorris 2y ago
    'Bristol Myers Squibb executives say most eligible patients are covered by Medicare or Medicaid and wouldn’t pay the list price.'
    - s1artibartfast 2y ago
      That's kind of like saying hamburger buyers are funding McDonalds. Buyer typically do not have a direct say in how businesses are run. They exert influence by either buying a product or not.
      - pjmorris 2y ago
        > That's kind of like saying hamburger buyers are funding McDonalds. If Medicare and Medicaid cover hamburgers. I could be wrong, but it looks to me like the fact that there's a built-in government-funded ('tax dollars') market is an aspect of pharma calculations.
        2y ago

by cma 2y ago

givemeethekeys 2y ago

How much of the record label's music production is funded by tax dollars?

throwup238 2y ago
David Bowie, Mick Jagger and Keith Richards, John Lennon and Paul McCartney. The list of musicians who were “on the dole” to support their music careers before they made it big is huge. It’s almost a cliche at this point. And when they do make it big, their biggest concerts are usually held in stadiums that were heavily subsidized by tax payers. Besides, Bristol Meyers Squibb acquired this drug for $14 billion which is bigger than the annual budget of the entire NSF. For a single drug. Tax payers weren’t the ones on the hook for that.
- givemeethekeys 2y ago
  Do record labels in the UK get funding too? I'd imagine artists getting funding is like scientists getting funding, where as record labels getting funding is more like pharmaceuticals companies getting funding.
cma 2y ago
That's fine but even considering that, is 20% only on successes enough to fund the rest of the portfolio that fails? And will it pass the risk free rate of return you can get from money markets or treasuries or whatever?
s1artibartfast 2y ago
In what sense are you proposing pharma production is funded by tax dollars? Selling a product to the taxpayers is not the same as funding.
- cma 2y ago
  Fundamental research slants towards public institutions, advertising and the clinical trials are the main spending the drug companies do, though they have research beyond trials too. Lots of acquiring university spinouts as well.
  - wbl 2y ago
    The gap between "one chemical that targets this thing" and a drug is massive. And basic research might not even end up with the first, just the target idea.
- pjmorris 2y ago
  'Bristol Myers Squibb executives say most eligible patients are covered by Medicare or Medicaid and wouldn’t pay the list price.'
  - s1artibartfast 2y ago
    That's kind of like saying hamburger buyers are funding McDonalds. Buyer typically do not have a direct say in how businesses are run. They exert influence by either buying a product or not.
    - pjmorris 2y ago
      > That's kind of like saying hamburger buyers are funding McDonalds. If Medicare and Medicaid cover hamburgers. I could be wrong, but it looks to me like the fact that there's a built-in government-funded ('tax dollars') market is an aspect of pharma calculations.
      - 2y ago