Roger Stein: A bold new way to fund drug research

Roger Stein: A bold new way to fund drug research #TED :

Interesting. Curious how this turns out. If he’s right, this could be a paradigm shift. Although, 80-150 seems a very small percentage of all trials, so how do you choose a very small number of the overall potential trials to at least be representative of all trials (or representative of the returns you calculate). It is entirely possible that all 80-150 are duds (our all are winners). What is the selection process (best advertised, most powerful backer…)
Would this actually be much different than the current selection process (which are chosen individually, rather than as a group). How do you determine which go into which pool? If 80-150 represented nearly all the drug trials that were waiting, than I say, at face value, it is fundamentally different, and could work.

His final line makes me skeptical.. “we don’t want to do it, we want someone else to do it..we’re not scientists”.
Yes, but you are finance guys. You put the fund together, with your name on it. You do your finance thing to allow the scientists to do their research and trials. Put your “money” (name, effort, money) where you mouth is.

Chicken do do a financial experiment? If you won’t, why should we listen to you. We’ll do as you do.. or not do, as the case may be.