Why is that relevant? Is your implication that a government-funded pharmaceutical company would be more efficent? If so, why? Just curious.

No, he's just saying that private companies can focus on the long term as well, if it's in their interest.

That's true but I think the pharmaceutical industry is an exception due to all the regulation. If it were possible to market drugs in 5 years instead of 10 most companies would focus on the 5 year drugs. With a 10 year drug there is a lot of uncertainty and is a reason there has been a lot of mergers in the pharmaceutical industry over the past few decades. A big company will contribute a sales force to sell the smaller company's products and then will just acquire them if things are going well.

10 years is still not long term.

Not as long as something like the government could sustain, definitely. People with really long-term plans might get incubated.

Am I allowed to make Bene Gesserit jokes on HN?

It's longer than two presidential mandates in the US.

I was down modded for saying 10 years is not long term but at 25 most people need to think in terms of a 40 year retirement horizon. I am 28 and I am thinking about the cost of heath care in my 80's which is 50+ years from now. So excuse me for saying this but most people under thirty need to be looking 50+ years ahead because there is a good chance we are going to be alive then.

Now most people in power tend to be older which may shorten their views but 100 years is not all that long when you start thinking the people that come after you.