Wall Street's myopic PROFIT Hunger pushing big Firms to abandon R&D , is it good or bad for mankind ?
Across industry consolidation over past couple decades , convertes small family owned firms into cortporate giants through mergers or acquisitions. Despite having it's downside , that process came up with an upside , which was bigger muscle for individual giants to invest in R&D for their own competitive survival from which mankind also got benefited to some extent as innovations got much more speed and big giants commercial muscle helped innovation to reach bigger population quicker than ever.
Though innovation always suffered from having slower speed as our ethical standard and regulatory frame work always had far less speed compared to innovation. Moreover due to psychological reason also diffusion of innovation is slow in society always which is on discussion in other thread here.
Behind the scene in recent time Wall Street become the BOSS of BIG Corporate Giants. The myopic hunger for PROFIT of Wall Street pushing big Firms to abandon R&D as their non core function , which should be taken care of somebody else !!! As process of innovation is uncertain, sometimes slow , needs lot of fund. To make BIG BOSS Wall Street happy big corporates freeing up those money to put somewher else to gain immediate profit. Recent trend in Healthcare industry is the proof.
That means innovation will suffer from funding problem as was echoed in passionate talk of Nina Tandon at Columbia University.
In this era when Innovation become ever costly & commercialization become far more complex, we can't push innovation to individual labs of scientists like Thomas Alva Edison or Alexander Fleming, when it was cheaper and simpler.
In such situation it seems to me in near future Innovation can come at much slower pace due to funding reason, and mankind will miss the benefit of the same.
Agree or disagree?
Or you have other perspective of same ?
What is your idea abo