I think it is indisputable that microcaps do better R&D, in part because they form and raise funds around a good idea or the vision of a group of scientists.
What I don't see at all is where the funding will come from. Most of these companies are money loosers, and the few that make money make money many years out.
Obvious solutions like encouraging SBIR/STTR collaborations are at odds with the free exchange of scientific knowledge within the academy. If people go further towards sitting on data for financial gain, we all suffer.
I'm sure there's a solution out there, but it isn't obvious to me what it is.
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