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[News] Charity Killer's (Co)Founder Admits Patents Are Like a Bubble or Pyramid Scheme

  • Subject: [News] Charity Killer's (Co)Founder Admits Patents Are Like a Bubble or Pyramid Scheme
  • From: Roy Schestowitz <newsgroups@xxxxxxxxxxxxxxx>
  • Date: Wed, 06 May 2009 08:03:30 +0000
  • Newsgroups: comp.os.linux.advocacy
  • User-agent: KNode/0.10.9
Hash: SHA1

Andy Grove: Patents Are Like Mortgage Backed Securities

,----[ Quote ]
| It's an interesting comparison and one that does seem apt the more you think 
| about it. In separating out the "security" from the underlying asset, we tend 
| to distort things. It was that distortion that resulted in the financial 
| crisis, as it enabled those who wanted to sell risky things to obscure the 
| actual risks and pretend that their securities were safer than they were.    


Grove Says Patent System May Have Same Flaws as Derivatives

,----[ Quote ]
| Andy Grove, who oversaw Intel Corp.’s emergence as the world’s largest chip 
| company, says the U.S. patent system suffers from the same kind of flaws that 
| brought about the global financial crisis.  
| Patents have evolved to a point where they often aren’t developed into 
| products, and instead are instruments traded by speculators looking for the 
| highest possible profit, Grove said May 2 at an event in Mountain View, 
| California. Similar to financial derivatives, the link between patents and 
| the products they protect is getting more tenuous, he said.    


Intel's Grove: Something foul in Silicon Valley

,----[ Quote ]
| Speaking to a diverse Silicon Valley audience that included Gordon Moore 
| (founder of both Fairchild Semiconductor and Intel); Ted Hoff (co-inventor of 
| the microprocessor); Carver Mead (VLSI concept); Intel CEO Paul Otellini; and 
| Apple co-founder Steve Wozniak, Grove said the patent system is slouching 
| toward the model that precipitated the financial crisis in the U.S.    



Intel accused of massive tax evasion

,----[ Quote ]
| Professor Mikkelsen described the level of Intel's tax evasion – believed to
| be Denmark's biggest ever case of transfer pricing – as "shocking".

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