yego.me
💡 Stop wasting time. Read Youtube instead of watch. Download Chrome Extension

Why There Is No Alternative to Publicly Funded Science Research | Avideh Zakhor | Big Think


2m read
·Nov 3, 2024

They call it "Little Science versus Big Science." So the trend in big science is now, "Okay, wow. We’re going to have a mega-center of $50 million a year going to University of X, and a hundred scientists are all going to be working on this one gigantic project." And examples of those are particle physics experiments where you need a huge amount of capital.

The trend in government funding is more towards more and more big science, and little science is kind of getting ignored. But small science is, you know, individual investigators or scientists thinking about an idea that is very risky. You still don’t know whether it warrants $50 million worth of investment in terms of further scientific inquiry, but a little bit of money could go a long way.

When I visited Capitol Hill I didn’t feel that there was a lot of scientific ignorance going on but more like political ideology as to how government funding and where government funding should be applied. So, for example, when I described the project that we were working on at the time at UC Berkeley that was being commercialized by the Department of Energy into a "real" company, some of the people that we met in Capitol Hill thought that government should not be in the business of funding companies to make products.

They thought that venture capitalists should. And my response to that was, "Well, if you visit run-of-the-mill Sandhill Road venture capitalists in the Bay area, they’re mostly interested in social media kind of companies: 'Who’s going to beat Facebook? Who’s going to be the next Twitter? Who’s going to be the next Linked In? Or who’s going to be the next Google,' which has a huge advertising revenue."

And so there’s two things there: One is, smaller projects that have bigger impact and societal impact kind of get ignored. Also, niche technologies that we can build on for future things will not thrive; they will go away. I mean a lot of the things that we’re reaping the benefit of today are because of the basic scientific research that we funded in the 60s and the 70s and the 80s.

So if they stop doing that kind of funding by the government, after a while we just won’t have anything to build on top of. We’ll just be advertising to each other and connecting with each other on social media. And that’s it. And that’s not where we want to end up.

So there is a role for government in terms of promoting scientific research for both the sake of scientific research and also for commercializing the scientific research. The government is the only entity that can take a slightly longer point of view in terms of these developments. But I think it’s good for that to happen because sometimes good ideas need a little bit of funding before they can become bigger ideas.

More Articles

View All
Pick Partners With Intelligence, Energy and Integrity
In terms of picking people to work with, I have high intelligence, high energy, and high integrity. I find that’s the three-part checklist that you cannot compromise on. You need someone who’s smart or they’re heading in the wrong direction, and you’re no…
2014 Berkshire Hathaway Annual Meeting (Full Version)
Thank you. Good morning. Uh, before we start, there are two very special guests that I’d like to introduce. Have stand up. Uh, the first, uh, even though he was on tour, he, uh, took a quick, uh, detour to Omaha to be here today, and will my friend Paul A…
Charlie Munger: How to Invest
Charlie Munger is without a doubt one of the most respected names in the value investing world. He’s been Buffett’s right hand man for many decades and still serves as the vice chairman of Berkshire Hathaway at 99 years old. But as many of you may know, h…
The Mobile Home Economics | Explorer
[music playing] Frank Rolfe? Yes. Billy Mintz. Hi, Billy. How are you? BILLY MINTZ (VOICEOVER): Frank Rolfe’s company is the fifth largest owner of mobile home parks in the United States. BILLY MINTZ: Beautiful place. FRANK ROLFE: Thank you very…
Touch - Mind Field (Ep 6)
- When it comes to illusions, optical illusions get all the attention. But the whole body you have can be fooled and can fool the brain. One of my favorite physical illusions is the thermal grill illusion. And you can do it right at home. I have some hot…
First Ascent of a Sky Island | Podcast | Overheard at National Geographic
El Dorado, the legendary city covered in gold, doesn’t seem like a place that could really exist. But then, neither did tapuis in the Guyana Highlands, a remote region of South American rainforest. Flat mountains with vertical walls rise high above the fo…