Thanks for the post. Straight forward report of k
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Posted On: 03/03/2020 10:55:50 AM
Thanks for the post. Straight forward report of key elements of the exchange between the President and major players. The Administration is playing catch up. An Administration that relies heavily on gut reaction and intuition is confronting a world health issue that, to be confronted, requires counterintuitive thinking and data driven decision making. This is also a critical issue that requires multiple low percentage shot at the target.
“I know the companies very well, some of them are so rich I think they can actually loan money to the federal government,” he said. “They don’t need money, they need time. Having money and spending money are not the same thing. The Administration assumes these for-profit giants will turn all their resources and wealth toward a long-shot cure (vaccine or treatment), at the expense (operative word), of active programs and risk to bottom line.
Trump is half right, they need time. Regulatory agencies can streamline process, remove impediments to review, testing and approval. They can even lower the “approval” bar and provide cover, protection, against future lawsuits should accelerated and streamline review result in the distribution and use of an indication which later demonstrates negative results/side effects. But he’s wrong to assume they will, or should be expected to, spend their own money. The risk/reward game BP plays ( we play), does not support moonshots. Sticking with that analogy; no aerospace giants would have satisfied Kennedy’s plea to put a man on the moon by the end of the decade. “We chose to do these things. Not because they are easy...but because they are hard.” WE is government and in that case and in the current crisis the US government and people.
The Administration (the Federal government), needs to get out the check book and start spending. Did someone forget a key principle on Capitalism? Corporations, no matter how deep their pockets, invest when the scales tip toward reward and profit. (Too often on too short a return timeline.) Why do we think there hasn’t been a new class of antibiotic in 30 years? The companies represented at the table, University research departments and, yes, small bio tech needs to be funded and funded quickly. A CEO who green lights funding on a high risk, low return, and ultimately, failed Corona drug will be out on his/her ear. Conversely, a President who fiddles while America fever-burns will be reviled not re-elected. BP can safely stay on the sideline, the government cannot.
Read More: https://investorshangout.com/post/view?id=569...z6FdizhWc1
“I know the companies very well, some of them are so rich I think they can actually loan money to the federal government,” he said. “They don’t need money, they need time. Having money and spending money are not the same thing. The Administration assumes these for-profit giants will turn all their resources and wealth toward a long-shot cure (vaccine or treatment), at the expense (operative word), of active programs and risk to bottom line.
Trump is half right, they need time. Regulatory agencies can streamline process, remove impediments to review, testing and approval. They can even lower the “approval” bar and provide cover, protection, against future lawsuits should accelerated and streamline review result in the distribution and use of an indication which later demonstrates negative results/side effects. But he’s wrong to assume they will, or should be expected to, spend their own money. The risk/reward game BP plays ( we play), does not support moonshots. Sticking with that analogy; no aerospace giants would have satisfied Kennedy’s plea to put a man on the moon by the end of the decade. “We chose to do these things. Not because they are easy...but because they are hard.” WE is government and in that case and in the current crisis the US government and people.
The Administration (the Federal government), needs to get out the check book and start spending. Did someone forget a key principle on Capitalism? Corporations, no matter how deep their pockets, invest when the scales tip toward reward and profit. (Too often on too short a return timeline.) Why do we think there hasn’t been a new class of antibiotic in 30 years? The companies represented at the table, University research departments and, yes, small bio tech needs to be funded and funded quickly. A CEO who green lights funding on a high risk, low return, and ultimately, failed Corona drug will be out on his/her ear. Conversely, a President who fiddles while America fever-burns will be reviled not re-elected. BP can safely stay on the sideline, the government cannot.
Read More: https://investorshangout.com/post/view?id=569...z6FdizhWc1
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