Excellent interview. Working in both the quantum and fusion spaces, discussions on the need for pull funding is frequent and Operation Warp Speed is often cited as precedent. I didn’t know about this NBER paper and this other useful comparison. Thank you!
"The Longitude Prize example also demonstrates some of the problems with prizes as an incentive mechanism. Anything that is government-directed will potentially be loaded with preconceived notions as to what the innovation “should” look like. Indeed, the Longitude Prize administrators refused to award Harrison for his invention, arguing that the solution needed to be based on celestial navigation, not timekeeping. Harrison spent decades lobbying for his prize money; he never received the full award and was never formally declared the winner."
Prizes have their own baggage and loath as I may be to say this, an improved patent system would probably do more good.
Excellent interview. Working in both the quantum and fusion spaces, discussions on the need for pull funding is frequent and Operation Warp Speed is often cited as precedent. I didn’t know about this NBER paper and this other useful comparison. Thank you!
Wonderful piece Santi, on advanced market commitments to spur innovation. This is just one tool in a toolkit for sure.
It is funny how often The Longitude Price comes up when it really is not the example most believe it to be. As I wrote here: https://www.lianeon.org/p/patents-or-prizes
"The Longitude Prize example also demonstrates some of the problems with prizes as an incentive mechanism. Anything that is government-directed will potentially be loaded with preconceived notions as to what the innovation “should” look like. Indeed, the Longitude Prize administrators refused to award Harrison for his invention, arguing that the solution needed to be based on celestial navigation, not timekeeping. Harrison spent decades lobbying for his prize money; he never received the full award and was never formally declared the winner."
Prizes have their own baggage and loath as I may be to say this, an improved patent system would probably do more good.