> Where is the risky investment in research that patents are supposed to be making possible?
Focusing on the "risky investment" part, the investment is not just monetary: I spent a full year of my grad research barking up the wrong tree. All I got out of it was a few pages to pad my thesis with.
Just like publications, as useful as it is to future researchers, you can't make a thesis out of "we tried this, it doesn't work", and a huge chunk of research work is exactly that.
Focusing on the "risky investment" part, the investment is not just monetary: I spent a full year of my grad research barking up the wrong tree. All I got out of it was a few pages to pad my thesis with.
Just like publications, as useful as it is to future researchers, you can't make a thesis out of "we tried this, it doesn't work", and a huge chunk of research work is exactly that.