Regulatory Constraints Stifle Innovation

Biotech innovation faces significant hindrance from the regulatory environment, which can dramatically increase development costs and reduce the quality of healthcare. The concept of Eroom's Law illustrates this phenomenon, demonstrating that while technology in other fields, like computing, advances rapidly (as seen in Moore's Law), drug development has experienced a reverse effect. Since the establishment of the FDA, the cost of developing drugs has surged by over 1,000 times, highlighting the inefficiencies within the regulatory state that obscure the potential for progress in healthcare.