[SequoiaHope]

20 years is an eternity in terms of innovation. This has an extreme effect compared to the natural state (no IP restrictions). I argue that the effects of patents is actually poorly understood, and most arguments for how they work fail to explain how and why open source works, revealing serious flaws in the foundational theories of IP restrictions.

The sole function of a patent is to restrict innovation. That’s the only direct result of patents. All other claims about encouraging innovation rely on beliefs about secondary and tertiary effects which I believe are incomplete, out of date, and often simply incorrect.

Edit: Even the pure capitalists don’t like it: https://youtu.be/hoSWC_6mDCk