Youtube comments of Dr Ben Miles (@DrBenMiles).
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@SyntheticAccord Hey, appreciate your comment, maybe not the tone, but hey, its the internet.
The point behind the IP discussion is that in a IP protection-free scenario, raising the capital to build an affordable insulin company becomes very difficult. We have insulins that are off-patent, if teams were keen to mass produce them they could. The cost of setting up the factories, QC, and regulation is still very high. That's starting to change as we get a better set of tools for biodesign. But its still high.
There's a generic-like insulin in Walmart for $25, its the old type of insulin. It's okay, but there are continually improvements to make it safer and less damaging to the body.
(Are they coming out slower than they should due to low competition, yes, but that's a different video topic)
The problem pharma is facing is blatant price gouging. The tools they are using to enforce it are: the patent system, the FDA, America's private healthcare system, and some anti-competition behaviour.
The desired outcome is a lower price. I think an inelegant solution is an IP-waiver, as its once-removed from the problem, only one of the factors preventing mass production, litigiously complicated, and sets an unnecessary precedent.
Regulating the price forces companies to sell it at what its worth (or what's affordable). It's a more practical and immediate, with less consequences that are harder to map, and its the end goal that's desired anyway, rather than a round about way of maybe achieving the same goal.
Thanks for your comment
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Great questions. Apologies for the slow response, I wanted to find time to read in full.
First point, "would you recommend focusing on an minimum viable product that's less impactful but starts generating profits, or lean towards attaining significant capital investment to develop a product that's more impactful and inline with the original vision?"
Good question, you can really go either way on this depending on your context. Investors like to see a faster time to revenue whenever possible, so sometime we advise looking for "stepping stone" markets that let you build an easier product and start selling it to show customer care, thereby derisking future development. Sometime though, this can be a distraction and push back your time horizon for getting your core product to market, where first mover advantage might be really important. A classically frustrating answer of "it depends"
"Also, do you intend to expand your venture capital investments to people outside of the traditional post secondary system? I worry that limiting yourself to students might hinder your ability to invest in the most impactful startups."
Absolutely, its the quality of the idea, market, and team we look at primarily. A great group to look at is Deep Science Ventures which focuses on building ventures around problems, regardless of having a core starting technology or not.
"I find that universities are increasingly becoming focused on job preparation instead of fostering our innate passion for research and academia" - I agree, this is my experience coming out of Uni, but also I don't think they do a good job at all of upskilling people for the world of work either 😃
Re Rant #2
Totally, I think the higher education system at the moment is anything too exciting to write home about. There is a lot of structural inequalities and problem baked into the system, and ultimately it's more about "regularising" people to fit into the job world than it is about making exceptional candidates, which I think is a shame considering the cost.
Let's overthrow it and start a new system 😂
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